Creative Planning lessened its holdings in Targa Resources Corp (NYSE:TRGP) by 33.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,648 shares of the pipeline company’s stock after selling 10,980 shares during the quarter. Creative Planning’s holdings in Targa Resources were worth $780,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of Targa Resources by 6.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 303,194 shares of the pipeline company’s stock worth $10,921,000 after purchasing an additional 18,766 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Targa Resources by 55.4% during the 4th quarter. SG Americas Securities LLC now owns 75,790 shares of the pipeline company’s stock worth $2,730,000 after purchasing an additional 27,010 shares during the last quarter. Rhumbline Advisers raised its position in shares of Targa Resources by 17.5% during the 4th quarter. Rhumbline Advisers now owns 283,841 shares of the pipeline company’s stock worth $10,224,000 after purchasing an additional 42,211 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Targa Resources by 73.2% during the 4th quarter. Advisors Asset Management Inc. now owns 6,903 shares of the pipeline company’s stock worth $249,000 after purchasing an additional 2,918 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its position in shares of Targa Resources by 39.1% during the 4th quarter. Miller Howard Investments Inc. NY now owns 299,955 shares of the pipeline company’s stock worth $10,804,000 after purchasing an additional 84,302 shares during the last quarter. 93.12% of the stock is currently owned by institutional investors.

Shares of Targa Resources stock opened at $44.42 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.68 and a quick ratio of 0.61. Targa Resources Corp has a twelve month low of $33.55 and a twelve month high of $59.21. The firm has a market cap of $10.19 billion, a P/E ratio of -103.30 and a beta of 2.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, January 30th. This represents a $3.64 dividend on an annualized basis and a yield of 8.19%. Targa Resources’s dividend payout ratio (DPR) is -846.51%.

Several research analysts have weighed in on TRGP shares. Evercore ISI started coverage on Targa Resources in a report on Tuesday, February 5th. They issued a $46.00 price target for the company. ValuEngine downgraded Targa Resources from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. Zacks Investment Research cut shares of Targa Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Bank of America raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, October 25th. They noted that the move was a valuation call. Finally, Mizuho assumed coverage on shares of Targa Resources in a research note on Wednesday, November 28th. They set a “neutral” rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Targa Resources has a consensus rating of “Buy” and an average target price of $56.29.

In other Targa Resources news, Director Chris Tong purchased 2,200 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $47.00 per share, with a total value of $103,400.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.76% of the stock is currently owned by corporate insiders.

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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, 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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