Stonepeak GP Investors Manager LLC purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 344,058 shares of the pipeline company’s stock, valued at approximately $15,551,000. Targa Resources makes up approximately 75.5% of Stonepeak GP Investors Manager LLC’s investment portfolio, making the stock its biggest position. Stonepeak GP Investors Manager LLC owned about 0.16% of Targa Resources as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank raised its holdings in Targa Resources by 4.3% in the first quarter. Comerica Bank now owns 25,835 shares of the pipeline company’s stock valued at $1,451,000 after acquiring an additional 1,071 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Targa Resources by 28.9% in the first quarter. UBS Asset Management Americas Inc. now owns 445,286 shares of the pipeline company’s stock valued at $26,673,000 after acquiring an additional 99,704 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Targa Resources by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 216,076 shares of the pipeline company’s stock valued at $12,942,000 after acquiring an additional 3,524 shares in the last quarter. Oxford Asset Management acquired a new stake in Targa Resources in the first quarter valued at approximately $323,000. Finally, Nordea Investment Management AB raised its holdings in Targa Resources by 21.2% in the first quarter. Nordea Investment Management AB now owns 5,338 shares of the pipeline company’s stock valued at $320,000 after acquiring an additional 934 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. BidaskClub lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reiterated a “buy” rating and issued a $53.00 price target on shares of Targa Resources in a research note on Sunday, September 17th. ValuEngine lowered shares of Targa Resources from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $49.00 price target (down from $50.00) on shares of Targa Resources in a research note on Friday, September 1st. Finally, Stifel Nicolaus set a $53.00 price target on shares of Targa Resources and gave the company a “buy” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Targa Resources currently has a consensus rating of “Buy” and an average price target of $54.81.

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Targa Resources, Inc. (NYSE:TRGP) traded down 0.8736% during midday trading on Friday, reaching $47.8483. The company’s stock had a trading volume of 305,878 shares. Targa Resources, Inc. has a 1-year low of $40.25 and a 1-year high of $61.83. The company’s 50-day moving average price is $45.89 and its 200-day moving average price is $48.57. The company’s market capitalization is $10.32 billion.

In other news, insider Dan C. Middlebrooks sold 2,100 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.70, for a total value of $93,870.00. Following the completion of the transaction, the insider now owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.93% of the company’s stock.

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.

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

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