4 Best Energy Stocks to Buy According to Stuart Zimmer’s Hedge Fund

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1. Targa Resources Corp. (NYSE:TRGP)

Zimmer Partners’ Stake Value: $202,373,000
Percentage of Zimmer Partners’ 13F Portfolio: 3.02%
Number of Hedge Fund Holders: 35

Targa Resources Corp. (NYSE:TRGP) owns and manages a portfolio of midstream energy assets in North America via its subsidiary, Targa Resources Partners LP. Since the second quarter of 2014, Targa Resources Corp. (NYSE:TRGP) has been a part of Zimmer Partners’ portfolio. On the other hand, Stuart Zimmer disclosed a decreased stake in Targa Resources Corp. (NYSE:TRGP) by 1% in its Q4 2021 filings. This leaves the hedge fund with a position worth $202.37 million.

Targa Resources Corp. (NYSE:TRGP) was raised to Buy from Neutral by Mizuho analyst Gabriel Moreen on March 18, with a price objective of $85, up from $58. According to Moreen, the sale of Targa Resources Corp. (NYSE:TRGP)’s GCX natural gas pipeline component simplified its financing structure and gave it even more near-term mobility.

According to Insider Monkey’s hedge fund database, 35 funds held stakes worth $626.32 million in Targa Resources Corp. (NYSE:TRGP) in the fourth quarter of 2021, up from 26 in the preceding quarter worth $567.25 million.

You can also take a peek at 10 Stocks to Buy According to Canyon Capital Advisors and Top 6 Stocks to Buy Today According to Stephen Feinberg’s Cerberus Capital Management

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