GTS Securities LLC Sells 53,256 Shares of Targa Resources Corp. (NYSE:TRGP)

GTS Securities LLC decreased its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 96.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,776 shares of the pipeline company's stock after selling 53,256 shares during the quarter. GTS Securities LLC's holdings in Targa Resources were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC raised its stake in Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Atala Financial Inc acquired a new position in Targa Resources during the fourth quarter worth about $31,000. Cary Street Partners Financial LLC acquired a new position in Targa Resources during the fourth quarter worth about $31,000. Rakuten Securities Inc. raised its stake in Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after acquiring an additional 146 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in Targa Resources during the fourth quarter worth about $36,000. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada lowered their target price on Targa Resources from $199.00 to $191.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Barclays lowered their target price on Targa Resources from $206.00 to $178.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. The Goldman Sachs Group lowered their target price on Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Truist Financial upped their price objective on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley upped their price objective on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $198.79.

Targa Resources Stock Down 0.5%

TRGP stock traded down $0.78 during midday trading on Friday, hitting $157.71. The stock had a trading volume of 4,020,354 shares, compared to its average volume of 1,813,152. The firm has a market cap of $34.21 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22. The business has a 50-day moving average of $170.23 and a two-hundred day moving average of $186.67. Targa Resources Corp. has a 52-week low of $114.51 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The company had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. As a group, equities research analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued 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 payout ratio is currently 73.66%.

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.