Atlantic Trust Group LLC boosted its position in Targa Resources Corp (NYSE:TRGP) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,611,451 shares of the pipeline company’s stock after purchasing an additional 99,553 shares during the quarter. Atlantic Trust Group LLC owned about 1.21% of Targa Resources worth $123,522,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aviva PLC boosted its stake in Targa Resources by 8.9% in the 2nd quarter. Aviva PLC now owns 128,243 shares of the pipeline company’s stock valued at $5,797,000 after purchasing an additional 10,500 shares during the period. Andra AP fonden boosted its stake in Targa Resources by 46.2% in the 2nd quarter. Andra AP fonden now owns 46,500 shares of the pipeline company’s stock valued at $2,102,000 after purchasing an additional 14,700 shares during the period. Stonepeak GP Investors Manager LLC bought a new stake in Targa Resources in the 2nd quarter valued at $15,551,000. Usca Ria LLC boosted its stake in Targa Resources by 3.7% in the 2nd quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 178 shares during the period. Finally, GAM Holding AG boosted its stake in Targa Resources by 63.5% in the 2nd quarter. GAM Holding AG now owns 28,325 shares of the pipeline company’s stock valued at $1,280,000 after purchasing an additional 11,000 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.
Several research firms recently issued reports on TRGP. Stifel Nicolaus reduced their price target on Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 20th. TheStreet downgraded Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. Wells Fargo & Company downgraded Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research report on Tuesday, November 7th. Robert W. Baird reiterated a “buy” rating and set a $53.00 target price on shares of Targa Resources in a research report on Friday, November 3rd. Finally, BidaskClub upgraded Targa Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.33.
In other Targa Resources news, VP John Richard Klein sold 2,292 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.93% of the stock is owned by corporate insiders.
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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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