Targa Resources, Inc. (NYSE:TRGP) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 2,313 put options on the company. This represents an increase of approximately 872% compared to the average volume of 238 put options.

A number of analysts have weighed in on TRGP shares. BMO Capital Markets set a $51.00 target price on shares of Targa Resources and gave the company a “hold” rating in a research report on Tuesday, August 15th. Citigroup lowered shares of Targa Resources from a “buy” rating to a “neutral” rating and cut their target price for the company from $54.00 to $52.00 in a research report on Tuesday, October 10th. Guggenheim upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, August 14th. TheStreet lowered shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. Finally, Wells Fargo & Company cut their target price on shares of Targa Resources from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.33.

In other Targa Resources news, VP John Richard Klein sold 2,292 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.93% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in shares of Targa Resources during the second quarter valued at $105,000. Van ECK Associates Corp raised its stake in Targa Resources by 24.0% during the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after buying an additional 524 shares during the last quarter. Ffcm LLC raised its stake in Targa Resources by 237.0% during the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after buying an additional 1,910 shares during the last quarter. Penserra Capital Management LLC raised its stake in Targa Resources by 20.6% during the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after buying an additional 726 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. bought a new position in Targa Resources during the third quarter worth $206,000. 87.42% of the stock is owned by hedge funds and other institutional investors.

Targa Resources (TRGP) opened at $44.20 on Friday. Targa Resources has a 52 week low of $39.59 and a 52 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend was Tuesday, October 31st. Targa Resources’s payout ratio is currently -136.84%.

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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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