McClarren Financial Advisors Inc. Increases Stake in Targa Resources Corp. (NYSE:TRGP)

McClarren Financial Advisors Inc. boosted its position in shares of Targa Resources Corp. (NYSE:TRGP) by 18.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,084 shares of the pipeline company’s stock after acquiring an additional 172 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Targa Resources were worth $193,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. MML Investors Services LLC boosted its stake in shares of Targa Resources by 65.1% in the third quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock worth $3,791,000 after buying an additional 10,100 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Targa Resources by 85.7% in the 4th quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after purchasing an additional 13,167 shares during the period. Capital Investment Advisors LLC boosted its holdings in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 5,431 shares in the last quarter. Braun Stacey Associates Inc. purchased a new position in Targa Resources in the third quarter valued at $11,042,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Targa Resources in the fourth quarter worth about $271,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

NYSE:TRGP opened at $200.57 on Thursday. The company has a market cap of $43.74 billion, a P/E ratio of 36.27, a P/E/G ratio of 0.59 and a beta of 2.29. Targa Resources Corp. has a twelve month low of $87.44 and a twelve month high of $218.51. The company’s 50-day moving average price is $193.42 and its 200-day moving average price is $172.45. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, January 31st. Targa Resources’s dividend payout ratio is currently 54.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TRGP shares. Morgan Stanley raised their target price on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Scotiabank initiated coverage on Targa Resources in a report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price objective on the stock. UBS Group boosted their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Targa Resources presently has an average rating of “Buy” and an average target price of $189.21.

Targa Resources Company 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.