Valley Brook Capital Group Inc. Sells 75 Shares of Targa Resources Corp. (NYSE:TRGP)

Valley Brook Capital Group Inc. decreased its holdings in Targa Resources Corp. (NYSE:TRGP) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,225 shares of the pipeline company’s stock after selling 75 shares during the period. Valley Brook Capital Group Inc.’s holdings in Targa Resources were worth $397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. DT Investment Partners LLC purchased a new stake in Targa Resources during the third quarter valued at $29,000. Prospera Private Wealth LLC purchased a new stake in Targa Resources during the third quarter valued at $35,000. Rosenberg Matthew Hamilton increased its position in Targa Resources by 49.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 89 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Targa Resources during the fourth quarter valued at $49,000. Finally, UMB Bank n.a. increased its position in Targa Resources by 39.6% during the fourth quarter. UMB Bank n.a. now owns 374 shares of the pipeline company’s stock valued at $67,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.3 %

Shares of TRGP stock opened at $203.33 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $193.30 and its two-hundred day simple moving average is $171.95. Targa Resources Corp. has a 1 year low of $87.37 and a 1 year high of $218.51. The company has a market cap 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.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 dividend yield of 1.48%. Targa Resources’s payout ratio is 54.25%.

Analysts Set New Price Targets

A number of research firms recently commented on TRGP. Bank of America began coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 price objective for the company. Truist Financial reduced their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Morgan Stanley boosted their price target on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price target on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company upped their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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.