4,196 Shares in Targa Resources Corp (TRGP) Acquired by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC acquired a new position in Targa Resources Corp (NYSE:TRGP) during the 2nd quarter, Holdings Channel reports. The firm acquired 4,196 shares of the pipeline company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Targa Resources in the first quarter worth about $103,000. James Hambro & Partners bought a new stake in shares of Targa Resources in the second quarter worth about $113,000. Sit Investment Associates Inc. bought a new stake in shares of Targa Resources in the second quarter worth about $127,000. IBM Retirement Fund bought a new stake in shares of Targa Resources in the first quarter worth about $206,000. Finally, Benedict Financial Advisors Inc. bought a new stake in shares of Targa Resources in the second quarter worth about $211,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Targa Resources opened at $53.98 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 525.20 and a beta of 2.02. Targa Resources Corp has a fifty-two week low of $39.59 and a fifty-two week high of $54.81.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, July 31st. This represents a $3.64 annualized dividend and a yield of 6.74%. Targa Resources’s payout ratio is -846.51%.

TRGP has been the topic of several recent analyst reports. Jefferies Financial Group reissued a “$51.76” rating and issued a $55.00 target price on shares of Targa Resources in a research note on Wednesday, July 18th. Seaport Global Securities set a $53.00 target price on Targa Resources and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Robert W. Baird reissued a “buy” rating and issued a $58.00 target price on shares of Targa Resources in a research note on Monday, April 23rd. Stifel Nicolaus set a $53.00 target price on Targa Resources and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, Guggenheim set a $50.00 target price on Targa Resources and gave the stock a “buy” rating in a research note on Monday, April 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $55.07.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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