Public Employees Retirement Association of Colorado increased its stake in Targa Resources, Inc. (NYSE:TRGP) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,639 shares of the pipeline company’s stock after buying an additional 521 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Targa Resources were worth $1,611,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Targa Resources by 2,928.1% in the first quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock valued at $604,426,000 after buying an additional 9,757,325 shares during the period. Vanguard Group Inc. increased its stake in Targa Resources by 11.9% in the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock valued at $955,142,000 after buying an additional 1,693,292 shares during the period. Bank of New York Mellon Corp increased its stake in Targa Resources by 47.4% in the first quarter. Bank of New York Mellon Corp now owns 4,182,244 shares of the pipeline company’s stock valued at $250,516,000 after buying an additional 1,345,219 shares during the period. Goldman Sachs Group Inc. increased its stake in Targa Resources by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 14,347,747 shares of the pipeline company’s stock valued at $859,430,000 after buying an additional 1,097,748 shares during the period. Finally, Wellington Management Group LLP increased its stake in Targa Resources by 70.1% in the first quarter. Wellington Management Group LLP now owns 2,162,964 shares of the pipeline company’s stock valued at $129,562,000 after buying an additional 891,161 shares during the period. Institutional investors own 81.55% of the company’s stock.

Targa Resources, Inc. (TRGP) opened at 44.30 on Friday. The firm’s market cap is $9.55 billion. The firm has a 50-day moving average price of $45.12 and a 200 day moving average price of $51.91. Targa Resources, Inc. has a 12-month low of $40.25 and a 12-month high of $61.83.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 8.22%. The ex-dividend date of this dividend is Friday, July 28th.

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Several analysts have recently issued reports on TRGP shares. Guggenheim started coverage on Targa Resources in a research note on Monday, April 17th. They set a “neutral” rating and a $54.00 price target for the company. Macquarie started coverage on Targa Resources in a research note on Friday, April 21st. They set an “outperform” rating and a $65.00 price target for the company. BMO Capital Markets reiterated a “hold” rating and set a $49.00 price target on shares of Targa Resources in a research note on Monday, April 17th. Credit Suisse Group set a $56.00 price target on Targa Resources and gave the stock a “neutral” rating in a research note on Friday, May 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $67.00 price target on shares of Targa Resources in a research note on Monday, May 8th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $54.16.

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 stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the completion of the sale, the insider now owns 50,853 shares in the company, valued at $2,273,129.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.93% 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.

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

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