Today, Creative Planning invests in Targa Resources Corp (TRGP) Shares

Today, Creative Planning invests in Targa Resources Corp (TRGP) Shares
Creative Planning boosted its position in shares of Targa Resources Corp (NYSE:TRGP) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 36,991 shares of the company’s stock after buying an additional 322 shares during the period. Creative Planning’s holdings in Targa Resources Corp were worth $1,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Targa Resources Corp by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,499,560 shares of the company’s stock worth $484,592,000 after buying an additional 359,214 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Targa Resources Corp by 5.3% in the second quarter. Chickasaw Capital Management LLC now owns 7,786,586 shares of the company’s stock worth $328,127,000 after buying an additional 393,976 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Targa Resources Corp by 90.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 6,228,103 shares of the company’s stock worth $262,438,000 after buying an additional 2,961,964 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Targa Resources Corp by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,022,998 shares of the company’s stock worth $169,529,000 after buying an additional 18,871 shares in the last quarter. Finally, Harvest Fund Advisors LLC boosted its stake in Targa Resources Corp by 24.7% in the second quarter. Harvest Fund Advisors LLC now owns 2,886,578 shares of the company’s stock worth $121,640,000 after buying an additional 572,101 shares in the last quarter.

Targa Resources Corp (NYSE:TRGP) traded up 0.50% during trading on Friday, reaching $51.94. The company had a trading volume of 1,618,392 shares. The company’s market capitalization is $9.39 billion. The stock has a 50 day moving average of $48.06 and a 200-day moving average of $44.41. Targa Resources Corp has a 12 month low of $14.55 and a 12 month high of $53.34.

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

Several analysts have commented on the company. RBC Capital Markets restated an “outperform” rating and issued a $52.00 price target (up previously from $46.00) on shares of Targa Resources Corp in a report on Thursday, November 3rd. Royal Bank Of Canada lifted their price target on Targa Resources Corp from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Vetr upgraded 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. Stifel Nicolaus cut 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. Finally, Barclays PLC upgraded Targa Resources Corp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company 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 issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.77.

In related news, CEO Joe Bob Perkins sold 7,843 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $50.45, for a total transaction of $395,679.35. Following the transaction, the chief executive officer now directly owns 435,042 shares of the company’s stock, valued at $21,947,868.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey J. Mcparland sold 3,800 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 145,983 shares in the company, valued at $7,316,667.96. 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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