Targa Resources Sees Unusually High Options Volume (TRGP)
Targa Resources, Inc. (NYSE:TRGP) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 2,201 put options on the company. This represents an increase of approximately Infinity compared to the typical daily volume of 0 put options.
Shares of Targa Resources (NYSE:TRGP) opened at $42.04 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources has a fifty-two week low of $39.59 and a fifty-two week high of $61.83.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 8.66%. The ex-dividend date of this dividend was Tuesday, October 31st. Targa Resources’s dividend payout ratio is currently -143.31%.
A number of institutional investors have recently made changes to their positions in TRGP. Shine Investment Advisory Services Inc. bought a new stake in Targa Resources in the second quarter valued at about $105,000. Bollard Group LLC increased its holdings in Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after buying an additional 27 shares during the last quarter. Ffcm LLC increased its holdings in Targa Resources by 237.0% in the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock valued at $122,000 after buying an additional 1,910 shares during the last quarter. Van ECK Associates Corp increased its holdings in Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after buying an additional 524 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Targa Resources by 20.6% in the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock valued at $192,000 after buying an additional 726 shares during the last quarter. 86.84% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on TRGP. BidaskClub upgraded Targa Resources from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Wells Fargo & Company cut Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Tuesday, November 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $49.00 target price (down previously from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Barclays PLC reiterated a “hold” rating and issued a $50.00 target price on shares of Targa Resources in a report on Thursday, October 19th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $53.00 target price on shares of Targa Resources in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.44.
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Targa Resources Company Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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