Freemont Management S.A. Lowers Position in Targa Resources, Inc. $TRGP

Freemont Management S.A. trimmed its position in Targa Resources, Inc. (NYSE:TRGP) by 88.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,100 shares of the pipeline company’s stock after selling 23,300 shares during the period. Freemont Management S.A.’s holdings in Targa Resources were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TRGP. Metis Global Partners LLC boosted its holdings in shares of Targa Resources by 22.1% during the 3rd quarter. Metis Global Partners LLC now owns 33,745 shares of the pipeline company’s stock valued at $5,654,000 after buying an additional 6,101 shares in the last quarter. Caprock Group LLC purchased a new position in Targa Resources during the 3rd quarter valued at about $3,820,000. Advisors Asset Management Inc. boosted its stake in Targa Resources by 12.6% during the third quarter. Advisors Asset Management Inc. now owns 11,057 shares of the pipeline company’s stock worth $1,852,000 after acquiring an additional 1,239 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Targa Resources by 1.3% in the third quarter. Stratos Wealth Partners LTD. now owns 5,046 shares of the pipeline company’s stock worth $845,000 after purchasing an additional 64 shares during the period. Finally, Stratos Wealth Advisors LLC increased its stake in shares of Targa Resources by 25.4% during the third quarter. Stratos Wealth Advisors LLC now owns 2,860 shares of the pipeline company’s stock valued at $479,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Down 1.6%

Shares of TRGP stock opened at $218.42 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $224.98. The stock has a market cap of $46.89 billion, a P/E ratio of 29.04, a P/E/G ratio of 0.95 and a beta of 0.88. The company has a 50 day simple moving average of $189.29 and a two-hundred day simple moving average of $173.02.

Targa Resources Dividend Announcement

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

Insiders Place Their Bets

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.34% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the topic of several analyst reports. Stifel Nicolaus set a $213.00 target price on Targa Resources in a report on Thursday, November 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $196.00 price target on shares of Targa Resources in a research note on Monday, January 12th. UBS Group reissued a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. Wells Fargo & Company lifted their target price on shares of Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada upped their target price on shares of Targa Resources from $213.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.50.

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.