Stratos Wealth Advisors LLC Has $397,000 Stock Holdings in Targa Resources, Inc. $TRGP

Stratos Wealth Advisors LLC raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 28.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,280 shares of the pipeline company’s stock after acquiring an additional 504 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Targa Resources were worth $397,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in Targa Resources by 57.1% in the second quarter. Private Trust Co. NA now owns 476 shares of the pipeline company’s stock valued at $83,000 after acquiring an additional 173 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of Targa Resources by 5.9% in the second quarter. Values First Advisors Inc. now owns 2,865 shares of the pipeline company’s stock worth $499,000 after buying an additional 159 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Targa Resources by 260.2% in the second quarter. Nordea Investment Management AB now owns 128,911 shares of the pipeline company’s stock worth $22,526,000 after buying an additional 93,119 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Targa Resources in the second quarter worth $792,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Targa Resources by 34.2% in the second quarter. Allianz Asset Management GmbH now owns 1,270,128 shares of the pipeline company’s stock worth $221,104,000 after buying an additional 323,398 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Trading Up 1.5%

Shares of Targa Resources stock opened at $148.51 on Monday. The firm has a market capitalization of $31.96 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 0.89 and a beta of 1.12. The company has a debt-to-equity ratio of 5.93, a current ratio of 0.69 and a quick ratio of 0.56. The company’s fifty day moving average price is $163.54 and its two-hundred day moving average price is $165.86. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $218.51.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. On average, analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Targa Resources’s dividend payout ratio is presently 56.58%.

Analyst Upgrades and Downgrades

TRGP has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada boosted their price objective on shares of Targa Resources from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. BMO Capital Markets began coverage on shares of Targa Resources in a research note on Friday, September 19th. They issued an “outperform” rating and a $185.00 price objective for the company. Finally, TD Cowen began coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a “hold” rating and a $192.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.50.

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.