Todays Report: Today, 1,800 Shares of Targa Resources Corp (TRGP) are sold by State of Wisconsin Investment Board

Today, 1,800 Shares of Targa Resources Corp (TRGP) are sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board decreased its position in shares of Targa Resources Corp (NYSE:TRGP) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 99,910 shares of the company’s stock after selling 1,800 shares during the period. State of Wisconsin Investment Board owned approximately 0.06% of Targa Resources Corp worth $4,907,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. World Asset Management Inc acquired a new position in shares of Targa Resources Corp during the third quarter worth about $320,000. Concert Wealth Management Inc. raised its stake in shares of Targa Resources Corp by 5.4% in the third quarter. Concert Wealth Management Inc. now owns 5,384 shares of the company’s stock valued at $263,000 after buying an additional 274 shares during the period. Bollard Group LLC raised its position in Targa Resources Corp by 1.3% in the third quarter. Bollard Group LLC now owns 2,449 shares of the company’s stock worth $120,000 after buying an additional 31 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Targa Resources Corp by 11.9% in the third quarter. Commonwealth Equity Services Inc now owns 31,359 shares of the company’s stock worth $1,540,000 after buying an additional 3,334 shares during the last quarter. Finally, Cypress Asset Management Inc. TX bought a new position in Targa Resources Corp during the third quarter valued at approximately $256,000.

Shares of Targa Resources Corp (NYSE:TRGP) traded up 0.50% during trading on Friday, hitting $51.94. 1,618,392 shares of the company traded hands. The stock’s market capitalization is $9.39 billion. Targa Resources Corp has a 52-week low of $14.55 and a 52-week high of $53.34. The company has a 50-day moving average of $48.06 and a 200-day moving average of $44.41.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Wednesday, November 2nd were paid a dividend of $0.91 per share. The ex-dividend date was Monday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 7.01%.

Several equities analysts have recently commented on the stock. RBC Capital Markets reissued an “outperform” rating and issued a $52.00 target price (up previously from $46.00) on shares of Targa Resources Corp in a report on Thursday, November 3rd. Royal Bank Of Canada increased their target price on shares of Targa Resources Corp from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. Vetr raised shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, September 27th. Stifel Nicolaus cut shares of Targa Resources Corp from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a report on Wednesday, September 28th. They noted that the move was a valuation call. Finally, Barclays PLC upgraded shares of Targa Resources Corp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $47.00 to $55.00 in a report on Tuesday, September 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Targa Resources Corp has a consensus rating of “Hold” and an average target price of $44.77.

In related news, Director Charles R. Crisp sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $46.13, for a total value of $461,300.00. Following the completion of the transaction, the director now directly owns 132,019 shares of the company’s stock, valued at $6,090,036.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey J. Mcparland sold 3,800 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $50.12, for a total value of $190,456.00. Following the completion of the transaction, the insider now directly owns 145,983 shares of the company’s stock, valued at $7,316,667.96. The disclosure for this sale can be found here.

About Targa Resources Corp

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products.

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