Stephens Inc. AR raised its holdings in Targa Resources, Inc. (NYSE:TRGP) by 9.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,408 shares of the pipeline company’s stock after acquiring an additional 2,078 shares during the quarter. Stephens Inc. AR’s holdings in Targa Resources were worth $1,058,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in TRGP. BlackRock Inc. lifted its holdings in Targa Resources by 2,928.1% in the first quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock valued at $604,426,000 after acquiring an additional 9,757,325 shares during the period. Vanguard Group Inc. lifted its holdings in Targa Resources by 11.9% in the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock valued at $955,142,000 after acquiring an additional 1,693,292 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in Targa Resources by 30.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,721,135 shares of the pipeline company’s stock valued at $303,795,000 after acquiring an additional 1,566,961 shares during the period. Boston Partners acquired a new stake in Targa Resources in the second quarter valued at $65,883,000. Finally, Center Coast Capital Advisors LP lifted its holdings in Targa Resources by 29.4% in the second quarter. Center Coast Capital Advisors LP now owns 5,508,319 shares of the pipeline company’s stock valued at $248,976,000 after acquiring an additional 1,252,133 shares during the period. 87.85% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the company. UBS AG reissued a “buy” rating and issued a $65.00 target price (down previously from $68.00) on shares of Targa Resources in a report on Tuesday, May 30th. Credit Suisse Group set a $54.00 target price on Targa Resources and gave the company a “hold” rating in a report on Sunday, May 28th. BidaskClub raised Targa Resources from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird reissued a “buy” rating and issued a $53.00 target price on shares of Targa Resources in a report on Sunday. Finally, ValuEngine raised Targa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $54.39.
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In other news, insider Dan C. Middlebrooks sold 2,100 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the completion of the sale, the insider now directly owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.93% of the company’s stock.
Shares of Targa Resources, Inc. (NYSE TRGP) opened at 46.93 on Friday. The stock’s market cap is $10.12 billion. The company’s 50-day moving average price is $44.85 and its 200-day moving average price is $49.50. Targa Resources, Inc. has a 52-week low of $40.25 and a 52-week high of $61.83.
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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