Mill Creek Capital Advisors LLC Takes $311,000 Position in Targa Resources Corp. (NYSE:TRGP)

Mill Creek Capital Advisors LLC bought a new position in Targa Resources Corp. (NYSE:TRGP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,745 shares of the pipeline company’s stock, valued at approximately $311,000.

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

Targa Resources Stock Down 1.3 %

Shares of NYSE TRGP opened at $203.33 on Wednesday. The firm has a fifty day simple moving average of $193.30 and a two-hundred day simple moving average of $171.95. The firm has a market capitalization of $44.34 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a 12 month low of $87.37 and a 12 month high of $218.51.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.48%. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

Analyst Upgrades and Downgrades

TRGP has been the topic of several analyst reports. Bank of America initiated coverage on Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective on the stock. Truist Financial decreased their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Scotiabank started coverage on shares of Targa Resources in a report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Company Profile

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.