Yousif Capital Management LLC Reduces Holdings in Targa Resources Corp. (NYSE:TRGP)

Yousif Capital Management LLC lowered its position in Targa Resources Corp. (NYSE:TRGP) by 25.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 28,187 shares of the pipeline company’s stock after selling 9,800 shares during the quarter. Yousif Capital Management LLC’s holdings in Targa Resources were worth $5,031,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TRGP. DT Investment Partners LLC purchased a new position in shares of Targa Resources in the third quarter worth about $29,000. Prospera Private Wealth LLC purchased a new position in Targa Resources in the 3rd quarter valued at approximately $35,000. Rosenberg Matthew Hamilton raised its holdings in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the period. UMB Bank n.a. raised its holdings in Targa Resources by 39.6% during the 4th quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 106 shares during the period. Finally, Huntington National Bank lifted its position in shares of Targa Resources by 22.9% during the third quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after acquiring an additional 89 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRGP. Truist Financial dropped their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Morgan Stanley raised their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays upped their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Scotiabank started coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $189.21.

Targa Resources Trading Down 2.8 %

Shares of TRGP stock opened at $198.72 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The firm has a market cap of $43.33 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The business has a 50-day moving average price of $193.19 and a two-hundred day moving average price of $170.26. Targa Resources Corp. has a 12-month low of $85.73 and a 12-month high of $218.51.

Targa Resources (NYSE:TRGP) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities analysts anticipate that Targa Resources Corp. will post 6.41 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.51%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.