Stratos Wealth Partners LTD. Reduces Holdings in Targa Resources Corp. (NYSE:TRGP)

Stratos Wealth Partners LTD. reduced its position in Targa Resources Corp. (NYSE:TRGP) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,104 shares of the pipeline company’s stock after selling 1,617 shares during the period. Stratos Wealth Partners LTD.’s holdings in Targa Resources were worth $2,696,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Park Avenue Securities LLC bought a new stake in shares of Targa Resources in the third quarter worth $242,000. Czech National Bank grew its holdings in Targa Resources by 5.6% during the 3rd quarter. Czech National Bank now owns 44,628 shares of the pipeline company’s stock worth $6,605,000 after acquiring an additional 2,377 shares in the last quarter. Mather Group LLC. increased its position in shares of Targa Resources by 31.5% in the 3rd quarter. Mather Group LLC. now owns 2,958 shares of the pipeline company’s stock worth $438,000 after purchasing an additional 708 shares during the last quarter. CWM LLC raised its stake in shares of Targa Resources by 7.2% in the 3rd quarter. CWM LLC now owns 5,358 shares of the pipeline company’s stock valued at $793,000 after purchasing an additional 359 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Targa Resources by 5.8% during the third quarter. Wedmont Private Capital now owns 5,375 shares of the pipeline company’s stock worth $850,000 after purchasing an additional 293 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Up 1.2 %

TRGP opened at $201.30 on Friday. The stock’s 50 day moving average price is $193.13 and its 200 day moving average price is $170.46. 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 has a market cap of $43.90 billion, a P/E ratio of 36.40, a P/E/G ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a 12 month low of $86.56 and a 12 month high of $218.51.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period last year, the company earned $0.97 earnings per share. As a group, research analysts predict that Targa Resources Corp. will post 6.41 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.49%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TRGP. Wells Fargo & Company upped their price objective on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Scotiabank began coverage on shares of Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target on the stock. Finally, Bank of America initiated coverage on shares of Targa Resources in a report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $189.21.

About Targa Resources

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.