Targa Resources, Inc. (NYSE:TRGP) VP John Richard Klein sold 2,292 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Targa Resources, Inc. (NYSE:TRGP) traded up $0.56 during trading on Monday, reaching $42.60. The company had a trading volume of 1,610,137 shares, compared to its average volume of 1,889,792. Targa Resources, Inc. has a 1-year low of $39.59 and a 1-year 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 declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st were issued a dividend of $0.91 per share. The ex-dividend date was Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 8.54%. Targa Resources’s dividend payout ratio (DPR) is currently -143.31%.

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TRGP has been the subject of a number of research reports. BMO Capital Markets set a $51.00 price objective on Targa Resources and gave the company a “hold” rating in a research note on Tuesday, August 15th. Citigroup Inc. cut Targa Resources from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $52.00 in a research note on Tuesday, October 10th. Guggenheim raised Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, August 14th. TheStreet cut Targa Resources from a “c-” rating to a “d+” rating in a research note on Monday, November 13th. Finally, Wells Fargo & Company reduced their price objective on Targa Resources from $54.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $54.33.

A number of institutional investors have recently modified their holdings of TRGP. AQR Capital Management LLC lifted its holdings in Targa Resources by 55.4% during the first quarter. AQR Capital Management LLC now owns 37,842 shares of the pipeline company’s stock worth $2,267,000 after acquiring an additional 13,490 shares during the period. Capstone Asset Management Co. lifted its holdings in Targa Resources by 11.0% during the second quarter. Capstone Asset Management Co. now owns 4,716 shares of the pipeline company’s stock worth $213,000 after acquiring an additional 468 shares during the period. Bank of Montreal Can lifted its holdings in Targa Resources by 15.9% during the second quarter. Bank of Montreal Can now owns 201,021 shares of the pipeline company’s stock worth $9,086,000 after acquiring an additional 27,623 shares during the period. State of Alaska Department of Revenue lifted its holdings in Targa Resources by 40.3% during the second quarter. State of Alaska Department of Revenue now owns 6,196 shares of the pipeline company’s stock worth $280,000 after acquiring an additional 1,780 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Targa Resources by 623.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,982 shares of the pipeline company’s stock worth $1,581,000 after acquiring an additional 30,149 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Targa Resources (NYSE:TRGP)

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