Miller Howard Investments Inc. NY lessened its holdings in Targa Resources, Inc. (NYSE:TRGP) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 274,045 shares of the pipeline company’s stock after selling 7,952 shares during the period. Miller Howard Investments Inc. NY owned 0.13% of Targa Resources worth $12,962,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Targa Resources by 17.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,768,732 shares of the pipeline company’s stock worth $848,347,000 after acquiring an additional 2,823,104 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Targa Resources by 30.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,721,135 shares of the pipeline company’s stock worth $303,795,000 after acquiring an additional 1,566,961 shares during the last quarter. Boston Partners acquired a new position in Targa Resources during the 2nd quarter worth $65,883,000. BlackRock Inc. lifted its position in Targa Resources by 13.3% during the 2nd quarter. BlackRock Inc. now owns 11,428,578 shares of the pipeline company’s stock worth $516,575,000 after acquiring an additional 1,338,025 shares during the last quarter. Finally, Center Coast Capital Advisors LP lifted its position in Targa Resources by 29.4% during the 2nd quarter. Center Coast Capital Advisors LP now owns 5,508,319 shares of the pipeline company’s stock worth $248,976,000 after acquiring an additional 1,252,133 shares during the last quarter. 87.47% of the stock is owned by institutional investors and hedge funds.

In other news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $44.70, for a total value of $93,870.00. Following the transaction, the insider now owns 50,853 shares in the company, valued at approximately $2,273,129.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.93% of the stock is currently owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.91 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.47%. Targa Resources’s dividend payout ratio (DPR) is currently -183.84%.

A number of brokerages have recently commented on TRGP. Barclays PLC lowered shares of Targa Resources from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $55.00 to $47.00 in a research report on Tuesday, July 18th. BMO Capital Markets set a $51.00 price objective on shares of Targa Resources and gave the company a “hold” rating in a research report on Tuesday, August 15th. Wells Fargo & Company raised shares of Targa Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Citigroup Inc. lowered shares of Targa Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $54.00 to $52.00 in a research report on Tuesday, October 10th. Finally, Guggenheim raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $54.67.

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Targa Resources Profile

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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