Nisa Investment Advisors LLC boosted its position in Targa Resources, Inc. (NYSE:TRGP) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,499 shares of the pipeline company’s stock after buying an additional 1,954 shares during the period. Nisa Investment Advisors LLC’s holdings in Targa Resources were worth $1,844,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in TRGP. Advisors Capital Management LLC increased its stake in shares of Targa Resources by 10.2% in the second quarter. Advisors Capital Management LLC now owns 192,101 shares of the pipeline company’s stock valued at $8,683,000 after buying an additional 17,720 shares during the last quarter. Eqis Capital Management Inc. increased its stake in shares of Targa Resources by 7.7% in the second quarter. Eqis Capital Management Inc. now owns 5,904 shares of the pipeline company’s stock valued at $267,000 after buying an additional 420 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Targa Resources by 623.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,982 shares of the pipeline company’s stock valued at $1,581,000 after buying an additional 30,149 shares during the last quarter. Texan Capital Management bought a new stake in shares of Targa Resources during the second quarter valued at $576,000. Finally, Baldwin Brothers Inc. MA boosted its position in Targa Resources by 0.7% in the second quarter. Baldwin Brothers Inc. MA now owns 15,278 shares of the pipeline company’s stock valued at $691,000 after buying an additional 100 shares during the period. Institutional investors own 81.55% of the company’s stock.
Targa Resources, Inc. (TRGP) traded up 0.34% during midday trading on Friday, hitting $44.30. The stock had a trading volume of 1,303,544 shares. The firm has a 50-day moving average of $45.12 and a 200-day moving average of $51.91. The company’s market cap is $9.55 billion. Targa Resources, Inc. has a 12-month low of $40.25 and a 12-month high of $61.83.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a dividend of $0.91 per share. The ex-dividend date of this dividend is Friday, July 28th. This represents a $3.64 annualized dividend and a dividend yield of 8.22%.
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Several equities analysts have recently issued reports on the company. UBS AG reissued a “buy” rating and set a $65.00 target price (down from $68.00) on shares of Targa Resources in a research note on Tuesday, May 30th. Zacks Investment Research raised Targa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday. Credit Suisse Group set a $54.00 price target on Targa Resources and gave the stock a “hold” rating in a research note on Sunday, May 28th. Robert W. Baird cut their target price on Targa Resources from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, June 30th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $51.00 target price on shares of Targa Resources in a research note on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.16.
In other news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were 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 approximately $2,273,129.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is owned by insiders.
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.
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