Metis Global Partners LLC Raises Stock Position in Targa Resources, Inc. $TRGP

Metis Global Partners LLC grew its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 22.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,745 shares of the pipeline company’s stock after acquiring an additional 6,101 shares during the period. Metis Global Partners LLC’s holdings in Targa Resources were worth $5,654,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caprock Group LLC purchased a new position in Targa Resources in the 3rd quarter valued at approximately $3,820,000. Advisors Asset Management Inc. grew its holdings in Targa Resources by 12.6% in the third quarter. Advisors Asset Management Inc. now owns 11,057 shares of the pipeline company’s stock valued at $1,852,000 after purchasing an additional 1,239 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Targa Resources by 1.3% in the third quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock valued at $845,000 after buying an additional 64 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in shares of Targa Resources by 25.4% in the third quarter. Stratos Wealth Advisors LLC now owns 2,860 shares of the pipeline company’s stock valued at $479,000 after buying an additional 580 shares in the last quarter. Finally, Navellier & Associates Inc. raised its stake in shares of Targa Resources by 1.0% during the 3rd quarter. Navellier & Associates Inc. now owns 64,901 shares of the pipeline company’s stock worth $10,873,000 after buying an additional 624 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Transactions at Targa Resources

In related news, insider Gerald R. Shrader sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the transaction, the insider owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. This represents a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TRGP shares. Royal Bank Of Canada increased their price objective on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. BMO Capital Markets increased their price target on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded Targa Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reaffirmed an “outperform” rating and issued a $224.00 target price on shares of Targa Resources in a research note on Friday, January 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $266.00 price target on shares of Targa Resources in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Targa Resources currently has an average rating of “Moderate Buy” and an average price target of $213.50.

Targa Resources Trading Up 2.5%

Shares of Targa Resources stock opened at $223.73 on Friday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $225.35. The business’s fifty day moving average is $190.15 and its two-hundred day moving average is $173.41. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 5.91. The firm has a market cap of $48.02 billion, a PE ratio of 29.75, a P/E/G ratio of 0.94 and a beta of 0.88.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio (DPR) is currently 53.19%.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.