DekaBank Deutsche Girozentrale Sells 744 Shares of Targa Resources Corp (NYSE:TRGP)

DekaBank Deutsche Girozentrale lessened its stake in shares of Targa Resources Corp (NYSE:TRGP) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 24,829 shares of the pipeline company’s stock after selling 744 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Targa Resources were worth $1,001,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Fluent Financial LLC lifted its position in shares of Targa Resources by 0.9% in the third quarter. Fluent Financial LLC now owns 28,038 shares of the pipeline company’s stock valued at $1,126,000 after acquiring an additional 261 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of Targa Resources by 49.6% in the fourth quarter. Jacobi Capital Management LLC now owns 845 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 280 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Targa Resources by 30.3% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,276 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 297 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Targa Resources by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 8,183 shares of the pipeline company’s stock valued at $329,000 after acquiring an additional 304 shares in the last quarter. Finally, Gould Asset Management LLC CA lifted its position in shares of Targa Resources by 3.9% in the fourth quarter. Gould Asset Management LLC CA now owns 8,773 shares of the pipeline company’s stock valued at $358,000 after acquiring an additional 330 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

NYSE:TRGP opened at $36.89 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $8.59 billion, a P/E ratio of -25.98 and a beta of 1.74. Targa Resources Corp has a 12 month low of $32.00 and a 12 month high of $48.78. The business’s 50-day moving average is $39.17 and its 200 day moving average is $38.39.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a $0.91 dividend. The ex-dividend date is Thursday, January 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 9.87%. Targa Resources’s dividend payout ratio is currently 1,820.00%.

Several equities analysts have recently commented on the company. Piper Jaffray Companies assumed coverage on Targa Resources in a research report on Monday, November 4th. They issued a “neutral” rating and a $43.00 price objective on the stock. Zacks Investment Research upgraded Targa Resources from a “sell” rating to a “hold” rating in a research report on Saturday, January 18th. Capital One Financial downgraded Targa Resources from an “overweight” rating to an “equal weight” rating and set a $42.00 price objective on the stock. in a research report on Thursday, November 21st. ValuEngine upgraded Targa Resources from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Co restated a “hold” rating on shares of Targa Resources in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $45.11.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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