Stratos Wealth Partners LTD. Has $867,000 Holdings in Targa Resources, Inc. $TRGP

Stratos Wealth Partners LTD. grew its position in shares of Targa Resources, Inc. (NYSE:TRGP) by 39.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,982 shares of the pipeline company’s stock after acquiring an additional 1,404 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Targa Resources were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of TRGP. GAMMA Investing LLC lifted its stake in shares of Targa Resources by 13.7% in the first quarter. GAMMA Investing LLC now owns 4,631 shares of the pipeline company’s stock valued at $928,000 after buying an additional 559 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Targa Resources by 5.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,038 shares of the pipeline company’s stock valued at $408,000 after acquiring an additional 111 shares in the last quarter. XML Financial LLC acquired a new position in Targa Resources during the 1st quarter valued at about $200,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Targa Resources by 48.1% in the first quarter. Oppenheimer & Co. Inc. now owns 2,535 shares of the pipeline company’s stock valued at $508,000 after purchasing an additional 823 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Targa Resources by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 82,982 shares of the pipeline company’s stock valued at $16,635,000 after buying an additional 3,188 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

TRGP opened at $154.47 on Thursday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51. The firm has a 50-day moving average of $162.66 and a 200 day moving average of $165.61. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market cap of $33.24 billion, a P/E ratio of 21.85, a PEG ratio of 0.91 and a beta of 1.12.

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

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 31st. Targa Resources’s dividend payout ratio is 56.58%.

Analysts Set New Price Targets

A number of research firms recently commented on TRGP. Wells Fargo & Company reissued an “overweight” rating and issued a $205.00 price target (up from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their target price 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. Cfra Research raised shares of Targa Resources to a “hold” rating in a research report on Friday, August 8th. Barclays boosted their price target on shares of Targa Resources from $178.00 to $195.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Mizuho decreased their price objective on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research note on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.50.

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.