Trade Report: The BlackRock Advisors LLC decides to keep it stake in Targa Resources Corp (TRGP) to the level of $8,322,000

The BlackRock Advisors LLC decides to keep it stake in Targa Resources Corp (TRGP) to the level of $8,322,000

BlackRock Advisors LLC boosted its position in Targa Resources Corp (NYSE:TRGP) by 12.8% during the second quarter, Holdings Channel reports. The fund owned 197,484 shares of the company’s stock after buying an additional 22,350 shares during the period. BlackRock Advisors LLC owned approximately 0.12% of Targa Resources Corp worth $8,322,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bollard Group LLC raised its position in shares of Targa Resources Corp by 1.3% in the second quarter. Bollard Group LLC now owns 2,418 shares of the company’s stock worth $102,000 after buying an additional 31 shares during the period. Glenmede Trust Co. NA raised its position in shares of Targa Resources Corp by 73.4% in the second quarter. Glenmede Trust Co. NA now owns 4,217 shares of the company’s stock worth $176,000 after buying an additional 1,785 shares during the period. E&G Advisors LP acquired a new position in shares of Targa Resources Corp during the second quarter worth about $208,000. SECOR Capital Advisors LP acquired a new position in shares of Targa Resources Corp during the second quarter worth about $212,000. Finally, Concert Wealth Management Inc. acquired a new position in shares of Targa Resources Corp during the second quarter worth about $215,000.

Shares of Targa Resources Corp (NYSE:TRGP) opened at 49.12 on Wednesday. The firm’s market cap is $8.18 billion. Targa Resources Corp has a 52-week low of $14.55 and a 52-week high of $64.37. The company has a 50-day moving average of $46.72 and a 200 day moving average of $41.33.

Targa Resources Corp (NYSE:TRGP) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.07. On average, equities analysts expect that Targa Resources Corp will post ($0.40) earnings per share for the current year.

Several research analysts have issued reports on TRGP shares. Stifel Nicolaus lowered shares of Targa Resources Corp from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a report on Wednesday, September 28th. They noted that the move was a valuation call. Vetr upgraded shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, September 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Targa Resources Corp in a report on Thursday, June 16th. Barclays PLC upgraded shares of Targa Resources Corp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $47.00 to $55.00 in a report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, July 5th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.70.

In related news, insider Jeffrey J. Mcparland sold 7,200 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $48.86, for a total transaction of $351,792.00. Following the completion of the transaction, the insider now owns 145,983 shares in the company, valued at approximately $7,132,729.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 7,500 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $37.66, for a total value of $282,450.00. Following the transaction, the insider now owns 60,553 shares of the company’s stock, valued at approximately $2,280,425.98. The disclosure for this sale can be found here.

Targa Resources Corp Company Profile

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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