10,906 Shares in Targa Resources, Inc. (TRGP) Purchased by Menta Capital LLC
Menta Capital LLC acquired a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,906 shares of the pipeline company’s stock, valued at approximately $493,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new position in Targa Resources during the 2nd quarter valued at $105,000. Bollard Group LLC lifted its holdings in shares of Targa Resources by 1.1% in the 2nd quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after buying an additional 27 shares during the period. Ffcm LLC lifted its holdings in shares of Targa Resources by 237.0% in the 2nd quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after buying an additional 1,910 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Targa Resources by 29.1% in the 1st quarter. Van ECK Associates Corp now owns 2,181 shares of the pipeline company’s stock worth $131,000 after buying an additional 491 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of Targa Resources by 20.6% in the 2nd quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after buying an additional 726 shares during the period. Institutional investors own 87.42% of the company’s stock.
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In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of Targa Resources stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the completion of the sale, the insider now directly owns 50,853 shares of the company’s stock, valued at approximately $2,273,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is owned by insiders.
Targa Resources, Inc. (NYSE:TRGP) opened at 47.30 on Friday. The firm’s market capitalization is $10.20 billion. Targa Resources, Inc. has a 12 month low of $40.25 and a 12 month high of $61.83. The company’s 50-day moving average price is $44.90 and its 200 day moving average price is $49.24.
Several brokerages have weighed in on TRGP. Robert W. Baird reiterated a “buy” rating and issued a $53.00 target price on shares of Targa Resources in a report on Sunday, September 17th. BidaskClub upgraded Targa Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. ValuEngine cut Targa Resources from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $49.00 target price (down from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Finally, Stifel Nicolaus set a $53.00 target price on Targa Resources and gave the stock a “buy” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources presently has an average rating of “Buy” and a consensus target price of $54.81.
About Targa Resources
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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