Stratos Wealth Partners LTD. Sells 11,526 Shares of Targa Resources, Inc. (NYSE:TRGP)

Stratos Wealth Partners LTD. trimmed its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 76.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,578 shares of the pipeline company's stock after selling 11,526 shares during the period. Stratos Wealth Partners LTD.'s holdings in Targa Resources were worth $717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC grew its stake in shares of Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company's stock valued at $473,000 after purchasing an additional 53 shares during the period. Ritholtz Wealth Management grew its stake in shares of Targa Resources by 1.3% in the 1st quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company's stock valued at $991,000 after purchasing an additional 62 shares during the period. Stratos Wealth Advisors LLC grew its stake in shares of Targa Resources by 3.6% in the 1st quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company's stock valued at $356,000 after purchasing an additional 62 shares during the period. Curated Wealth Partners LLC grew its stake in shares of Targa Resources by 2.2% in the 1st quarter. Curated Wealth Partners LLC now owns 3,344 shares of the pipeline company's stock valued at $670,000 after purchasing an additional 73 shares during the period. Finally, Baker Avenue Asset Management LP grew its stake in shares of Targa Resources by 0.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,234 shares of the pipeline company's stock valued at $1,648,000 after purchasing an additional 74 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Up 0.4%

Shares of TRGP stock traded up $0.62 during trading hours on Thursday, reaching $166.61. The company had a trading volume of 1,451,656 shares, compared to its average volume of 1,845,276. The company has a 50 day moving average of $167.35 and a 200 day moving average of $181.76. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 0.59 and a beta of 1.07. Targa Resources, Inc. has a 1-year low of $122.56 and a 1-year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. On average, equities research analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from Targa Resources's previous quarterly dividend of $0.12. Targa Resources's dividend payout ratio is currently 73.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Securities assumed coverage on Targa Resources in a report on Monday, July 7th. They issued a "hold" rating on the stock. UBS Group reduced their target price on Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. The Goldman Sachs Group reduced their target price on Targa Resources from $218.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Targa Resources from $189.00 to $209.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $205.00 target price on shares of Targa Resources in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Targa Resources currently has an average rating of "Buy" and a consensus price target of $209.86.

Targa Resources 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.