5 Best Pipeline and MLP Stocks to Buy

1. Targa Resources Corp. (NYSE:TRGP)

Number of Hedge Fund Holders: 32

Targa Resources Corp. (NYSE:TRGP) is an American midstream asset owner and developer. The company gathers, treats, processes, and transports natural gas, and it owns thousands of miles of gas pipelines and millions of barrels of storage capacity for natural gas liquids.

Targa Resources Corp. (NYSE:TRGP)’s second fiscal quarter saw its revenues increase by a whopping 77%, and this growth also translated into its bottom line profits, with the company’s net income growing by a whopping 983% during the same time period. To round off the results, Targa Resources Corp. (NYSE:TRGP)’s operating income also grew by 84% during Q2 2022.

Targa Resources Corp. (NYSE:TRGP) pays a 35 cent dividend for a 2.2% yield. As part of their second quarter of 2022 investments, 32 out of the 895 hedge funds polled by Insider Monkey had invested in the firm.

Out of these, Targa Resources Corp. (NYSE:TRGP)’s largest investor is Stuart J. Zimmer’s Zimmer Partners which owns 3.1 million shares that are worth $185 million.

Disclosure: None. You can also take a look at 10 Best Ethanol Stocks To Buy Now and 10 Best Nuclear Energy Stocks To Buy.

Follow Insider Monkey on Twitter