Cornerstone Capital Management Holdings LLC. lessened its holdings in Targa Resources Corp (NYSE:TRGP) by 28.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,501 shares of the pipeline company’s stock after selling 29,799 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Targa Resources were worth $3,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TRGP. CNH Partners LLC lifted its stake in Targa Resources by 0.5% in the second quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock valued at $981,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB raised its holdings in Targa Resources by 2.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock valued at $248,000 after acquiring an additional 155 shares during the period. Usca Ria LLC raised its holdings in Targa Resources by 3.7% during the 2nd quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock valued at $226,000 after acquiring an additional 178 shares during the period. Profund Advisors LLC raised its holdings in Targa Resources by 3.6% during the 2nd quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock valued at $413,000 after acquiring an additional 317 shares during the period. Finally, Frontier Wealth Management LLC raised its holdings in Targa Resources by 6.2% during the 2nd quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock valued at $266,000 after acquiring an additional 344 shares during the period. Hedge funds and other institutional investors own 87.44% of the company’s stock.

In related news, VP John Richard Klein sold 2,292 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.93% of the stock is owned by corporate insiders.

TRGP has been the topic of a number of analyst reports. Jefferies Group reissued a “buy” rating and set a $49.00 target price (down previously from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Citigroup cut shares of Targa Resources from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $54.00 to $52.00 in a report on Tuesday, October 10th. Zacks Investment Research raised shares of Targa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. TheStreet cut shares of Targa Resources from a “c-” rating to a “d+” rating in a report on Monday, November 13th. Finally, ValuEngine cut shares of Targa Resources from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $54.33.

Targa Resources Corp (TRGP) opened at $46.36 on Monday. Targa Resources Corp has a one year low of $39.59 and a one year high of $61.83. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.

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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.

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

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