Braun Stacey Associates Inc. Sells 5,861 Shares of Targa Resources, Inc. (NYSE:TRGP)

Braun Stacey Associates Inc. lessened its holdings in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,728 shares of the pipeline company's stock after selling 5,861 shares during the quarter. Braun Stacey Associates Inc. owned 0.06% of Targa Resources worth $25,205,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. World Investment Advisors grew its holdings in shares of Targa Resources by 6.8% in the 1st quarter. World Investment Advisors now owns 1,720 shares of the pipeline company's stock valued at $345,000 after acquiring an additional 109 shares in the last quarter. Olde Wealth Management LLC bought a new stake in shares of Targa Resources during the first quarter worth approximately $52,000. Truist Financial Corp boosted its holdings in shares of Targa Resources by 5.5% during the first quarter. Truist Financial Corp now owns 874,538 shares of the pipeline company's stock worth $175,319,000 after acquiring an additional 45,508 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of Targa Resources by 9.1% in the first quarter. Catalyst Capital Advisors LLC now owns 163,214 shares of the pipeline company's stock valued at $32,720,000 after buying an additional 13,570 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Targa Resources by 6.4% in the first quarter. IFM Investors Pty Ltd now owns 62,937 shares of the pipeline company's stock valued at $12,617,000 after buying an additional 3,791 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Ratings Changes

TRGP has been the subject of several research analyst reports. Truist Financial boosted their price objective on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Morgan Stanley upped their price target on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $205.00 price objective (up previously from $191.00) on shares of Targa Resources in a report on Thursday, June 26th. Finally, Barclays dropped their price objective on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a report on Tuesday, May 20th. Twelve investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $209.67.

Targa Resources Stock Down 0.1%

TRGP stock traded down $0.26 during trading on Friday, reaching $173.52. The stock had a trading volume of 760,692 shares, compared to its average volume of 1,840,013. Targa Resources, Inc. has a one year low of $122.56 and a one year high of $218.51. The company's 50 day moving average is $166.38 and its two-hundred day moving average is $182.30. The company has a market capitalization of $37.64 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 0.62 and a beta of 1.07. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Equities research analysts forecast that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were given a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date was Wednesday, April 30th. Targa Resources's dividend payout ratio is currently 73.66%.

Targa Resources 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.