McClarren Financial Advisors Inc. Acquires 172 Shares of Targa Resources Corp. (NYSE:TRGP)

McClarren Financial Advisors Inc. boosted its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after purchasing an additional 633,589 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Targa Resources by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,717,487 shares of the pipeline company’s stock valued at $843,680,000 after buying an additional 97,583 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Targa Resources by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,503 shares of the pipeline company’s stock valued at $197,076,000 after buying an additional 14,287 shares during the period. JPMorgan Chase & Co. boosted its position in Targa Resources by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,257,613 shares of the pipeline company’s stock valued at $186,139,000 after buying an additional 96,268 shares during the period. Finally, Barclays PLC grew its stake in Targa Resources by 19.5% in the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company’s stock worth $153,124,000 after acquiring an additional 168,602 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TRGP shares. US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Bank of America initiated coverage on Targa Resources in a research report on Thursday, October 17th. They set a “buy” rating and a $182.00 target price for the company. UBS Group upped their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stifel Nicolaus raised their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley upped their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources has a consensus rating of “Buy” and an average price target of $189.21.

Targa Resources Stock Down 1.3 %

NYSE:TRGP opened at $200.57 on Thursday. The company’s 50-day simple moving average is $193.42 and its 200-day simple moving average is $172.45. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a fifty-two week low of $87.44 and a fifty-two week high of $218.51. The stock has a market capitalization 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.50%. Targa Resources’s dividend payout ratio (DPR) is 54.25%.

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.