Bessemer Group Inc. Acquires 29,503 Shares of Targa Resources, Inc. (TRGP)

Bessemer Group Inc. raised its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 66.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,822 shares of the pipeline company’s stock after acquiring an additional 29,503 shares during the quarter. Bessemer Group Inc.’s holdings in Targa Resources were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new position in Targa Resources during the 2nd quarter valued at about $105,000. Bollard Group LLC grew its holdings in shares of Targa Resources by 1.1% during the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after buying an additional 27 shares in the last quarter. Ffcm LLC grew its holdings in shares of 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 in the last quarter. Van ECK Associates Corp grew its holdings in shares of 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 in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.84% of the company’s stock.

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A number of equities research analysts have recently commented on TRGP shares. ValuEngine downgraded shares of Targa Resources from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price target (down from $50.00) on shares of Targa Resources in a report on Friday, September 1st. BMO Capital Markets set a $51.00 price target on shares of Targa Resources and gave the stock a “hold” rating in a report on Friday, October 13th. Wells Fargo & Company lowered their price target on shares of Targa Resources from $54.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 13th. Finally, Barclays PLC reiterated a “hold” rating and set a $50.00 price target on shares of Targa Resources in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.44.

Targa Resources, Inc. (NYSE:TRGP) opened at $43.71 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources, Inc. has a 12-month low of $39.59 and a 12-month high of $61.83.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 8.33%. Targa Resources’s dividend payout ratio (DPR) is -136.84%.

About Targa Resources

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.

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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