The Targa Resources Corp (TRGP) Insider Sold $351,792.00 in Stock

The Targa Resources Corp (TRGP) Insider Sold $351,792.00 in Stock

Targa Resources Corp (NYSE:TRGP) insider Jeffrey J. Mcparland sold 7,200 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $48.86, for a total value of $351,792.00. Following the sale, the insider now directly owns 145,983 shares of the company’s stock, valued at approximately $7,132,729.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Targa Resources Corp (NYSE:TRGP) opened at 48.81 on Monday. The company’s market cap is $8.13 billion. The stock’s 50 day moving average price is $46.37 and its 200 day moving average price is $40.94. Targa Resources Corp has a one year low of $14.55 and a one year high of $64.54.

Targa Resources Corp (NYSE:TRGP) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.07. Equities analysts predict that Targa Resources Corp will post ($0.40) earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bollard Group LLC increased 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 valued at $102,000 after buying an additional 31 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Targa Resources Corp by 1,288.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,485 shares of the company’s stock valued at $122,000 after buying an additional 2,306 shares in the last quarter. Glenmede Trust Co. NA increased 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 valued at $176,000 after buying an additional 1,785 shares in the last quarter. Advisor Group Inc. acquired a new position in shares of Targa Resources Corp during the second quarter valued at approximately $199,000. Finally, E&G Advisors LP acquired a new position in shares of Targa Resources Corp during the second quarter valued at approximately $208,000.

TRGP has been the subject of a number of research analyst reports. Stifel Nicolaus lowered 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 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. Goldman Sachs Group Inc. upgraded Targa Resources Corp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $41.00 to $52.00 in a report on Monday, September 19th. Barclays PLC upgraded 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. Finally, Evercore ISI initiated coverage on Targa Resources Corp in a report on Thursday, September 15th. They set a “hold” rating and a $45.00 price target for the company. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.70.

Targa Resources Corp Company Profile

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