Nordea Investment Management AB Has $657,000 Position in Targa Resources Corp (TRGP)
Nordea Investment Management AB boosted its stake in Targa Resources Corp (NYSE:TRGP) by 152.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,882 shares of the pipeline company’s stock after purchasing an additional 8,389 shares during the quarter. Nordea Investment Management AB’s holdings in Targa Resources were worth $657,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TRGP. Van ECK Associates Corp grew its holdings in shares of Targa Resources by 24.0% during the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 524 shares during the last quarter. Ffcm LLC grew its holdings in shares of Targa Resources by 237.0% during the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 1,910 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Targa Resources by 20.6% during the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after purchasing an additional 726 shares during the last quarter. Guyasuta Investment Advisors Inc. bought a new stake in shares of Targa Resources during the third quarter worth about $206,000. Finally, Pacer Advisors Inc. boosted its holdings in Targa Resources by 28.5% in the second quarter. Pacer Advisors Inc. now owns 4,587 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 1,017 shares during the last quarter. 87.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Targa Resources Corp (NYSE TRGP) traded up $0.35 during trading hours on Friday, reaching $45.36. The company’s stock had a trading volume of 1,731,321 shares, compared to its average volume of 1,661,756. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources Corp has a 52-week low of $39.59 and a 52-week high of $61.83.
Several brokerages recently commented on TRGP. Guggenheim upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, August 14th. Citigroup upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Thursday, November 2nd. Stifel Nicolaus cut their price target on Targa Resources from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, November 20th. Royal Bank Of Canada restated a “buy” rating and set a $60.00 price target on shares of Targa Resources in a report on Monday, August 21st. Finally, BMO Capital Markets set a $51.00 price target on Targa Resources and gave the stock a “hold” rating in a report on Tuesday, August 15th. One 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 stock. The stock currently has an average rating of “Hold” and an average price target of $54.33.
In other Targa Resources news, VP John Richard Klein sold 2,292 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.93% of the stock is owned by corporate insiders.
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Targa Resources Company 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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