Nisa Investment Advisors LLC increased its position in Targa Resources, Inc. (NYSE:TRGP) by 5.1% during the second quarter, according to its most recent filing 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 SEC filing.
A number of other institutional investors also recently made changes to their positions in TRGP. Bollard Group LLC boosted its stake in Targa Resources by 0.9% in the first quarter. Bollard Group LLC now owns 2,499 shares of the pipeline company’s stock valued at $150,000 after buying an additional 23 shares during the period. Linscomb & Williams Inc. boosted its stake in shares of Targa Resources by 0.3% in the first quarter. Linscomb & Williams Inc. now owns 9,639 shares of the pipeline company’s stock worth $577,000 after buying an additional 33 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Targa Resources by 0.7% in the first quarter. Private Trust Co. NA now owns 7,463 shares of the pipeline company’s stock worth $447,000 after buying an additional 51 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Targa Resources by 1.7% in the first quarter. Hodges Capital Management Inc. now owns 5,950 shares of the pipeline company’s stock worth $356,000 after buying an additional 100 shares during the last quarter. Finally, Baldwin Brothers Inc. MA boosted its stake in shares of Targa Resources by 0.7% in the second quarter. Baldwin Brothers Inc. MA now owns 15,278 shares of the pipeline company’s stock worth $691,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.
Shares of Targa Resources, Inc. (NYSE:TRGP) traded up 1.62% during trading on Friday, hitting $43.31. 1,944,545 shares of the stock traded hands. Targa Resources, Inc. has a one year low of $40.25 and a one year high of $61.83. The firm has a 50 day moving average price of $45.08 and a 200-day moving average price of $51.35. The company’s market cap is $9.34 billion.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date was Friday, July 28th.
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TRGP has been the subject of several analyst reports. Credit Suisse Group set a $56.00 target price on Targa Resources and gave the stock a “neutral” rating in a research note on Friday, May 5th. Macquarie began coverage on Targa Resources in a research note on Friday, April 21st. They set an “outperform” rating and a $65.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $67.00 price target on shares of Targa Resources in a report on Monday, May 8th. Wells Fargo & Company raised Targa Resources from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 price target (down from $63.00) on shares of Targa Resources in a report on Monday, July 17th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $53.95.
In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $44.70, for a total value of $93,870.00. Following the transaction, the insider now directly owns 50,853 shares of the company’s stock, valued at approximately $2,273,129.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.93% of the stock is currently owned by company insiders.
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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