Center Coast Capital Advisors LP decreased its position in Targa Resources, Inc. (NYSE:TRGP) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,397,604 shares of the pipeline company’s stock after selling 110,715 shares during the period. Targa Resources makes up about 6.3% of Center Coast Capital Advisors LP’s portfolio, making the stock its 5th biggest holding. Center Coast Capital Advisors LP owned about 2.50% of Targa Resources worth $255,307,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new position in Targa Resources in the 2nd quarter worth $105,000. Bollard Group LLC raised its stake in 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 acquiring an additional 27 shares during the last quarter. Van ECK Associates Corp raised its stake in Targa Resources by 24.0% in the 2nd quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after acquiring an additional 524 shares during the last quarter. Ffcm LLC raised its stake in 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 acquiring an additional 1,910 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in 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 acquiring an additional 726 shares during the last quarter. Institutional investors own 86.84% of the company’s stock.

A number of research firms have weighed in on TRGP. BidaskClub upgraded Targa Resources from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Wells Fargo & Company lowered Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Tuesday, November 7th. Jefferies Group LLC reiterated a “buy” rating and set a $49.00 price objective (down previously from $50.00) on shares of Targa Resources in a research note on Friday, September 1st. ValuEngine upgraded Targa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Barclays PLC reiterated a “hold” rating and set a $50.00 price objective on shares of Targa Resources in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $54.44.

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Targa Resources, Inc. (TRGP) traded down $1.84 during trading hours on Tuesday, hitting $42.29. The stock had a trading volume of 1,460,900 shares, compared to its average volume of 1,898,815. Targa Resources, Inc. has a 52-week low of $39.59 and a 52-week high of $61.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date of this dividend is Tuesday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently -136.84%.

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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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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