Catalyst Capital Advisors LLC Acquires 74,586 Shares of Targa Resources, Inc. (TRGP)
Catalyst Capital Advisors LLC raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 28.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 336,942 shares of the pipeline company’s stock after purchasing an additional 74,586 shares during the period. Targa Resources makes up about 0.7% of Catalyst Capital Advisors LLC’s portfolio, making the stock its 15th largest holding. Catalyst Capital Advisors LLC owned approximately 0.16% of Targa Resources worth $15,937,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Aviva PLC lifted its holdings in shares of Targa Resources by 8.9% during the 2nd quarter. Aviva PLC now owns 128,243 shares of the pipeline company’s stock worth $5,797,000 after acquiring an additional 10,500 shares during the period. Andra AP fonden lifted its holdings in shares of Targa Resources by 46.2% during the 2nd quarter. Andra AP fonden now owns 46,500 shares of the pipeline company’s stock worth $2,102,000 after acquiring an additional 14,700 shares during the period. Stonepeak GP Investors Manager LLC bought a new stake in shares of Targa Resources during the 2nd quarter worth approximately $15,551,000. Usca Ria LLC lifted its holdings in shares of Targa Resources by 3.7% during the 2nd quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 178 shares during the period. Finally, GAM Holding AG lifted its holdings in shares of Targa Resources by 63.5% during the 2nd quarter. GAM Holding AG now owns 28,325 shares of the pipeline company’s stock worth $1,280,000 after acquiring an additional 11,000 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts recently issued reports on TRGP shares. Stifel Nicolaus lowered their price objective on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Monday. BidaskClub cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Guggenheim upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, August 14th. TheStreet cut shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. Finally, BMO Capital Markets set a $51.00 price objective on shares of Targa Resources and gave the stock a “hold” rating in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.33.
Shares of Targa Resources, Inc. (NYSE TRGP) traded up $0.14 during midday trading on Monday, reaching $42.04. 999,000 shares of the company traded hands, compared to its average volume of 1,891,046. Targa Resources, Inc. has a fifty-two week low of $39.59 and a fifty-two week high of $61.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were paid a dividend of $0.91 per share. 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 presently -143.31%.
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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