BMO Capital Markets set a $51.00 target price on Targa Resources, Inc. (NYSE:TRGP) in a research note published on Friday morning. The brokerage currently has a hold rating on the pipeline company’s stock.

TRGP has been the topic of several other reports. ValuEngine lowered Targa Resources from a hold rating to a sell rating in a report on Friday, September 1st. Citigroup Inc. lowered their price target on Targa Resources from $64.00 to $54.00 and set a buy rating on the stock in a research report on Wednesday, June 28th. Royal Bank Of Canada lowered their price target on Targa Resources from $67.00 to $60.00 and set an outperform rating on the stock in a research report on Friday, July 14th. Zacks Investment Research downgraded Targa Resources from a hold rating to a sell rating in a research report on Thursday, July 13th. Finally, Deutsche Bank AG downgraded Targa Resources from a buy rating to a hold rating and lowered their price target for the stock from $69.00 to $47.00 in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $54.59.

Targa Resources (TRGP) opened at 45.69 on Friday. The stock’s market capitalization is $9.85 billion. Targa Resources has a 12-month low of $40.25 and a 12-month high of $61.83. The company has a 50-day moving average price of $46.64 and a 200-day moving average price of $48.04.

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In related news, insider Dan C. Middlebrooks sold 2,100 shares of the stock in a transaction that occurred 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 sale, the insider now owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.93% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Aviva PLC increased its holdings in shares of Targa Resources by 8.9% in the second quarter. Aviva PLC now owns 128,243 shares of the pipeline company’s stock valued at $5,797,000 after purchasing an additional 10,500 shares during the last quarter. Andra AP fonden increased its holdings in shares of Targa Resources by 46.2% in the second quarter. Andra AP fonden now owns 46,500 shares of the pipeline company’s stock valued at $2,102,000 after purchasing an additional 14,700 shares during the last quarter. Usca Ria LLC increased its holdings in shares of Targa Resources by 3.7% in the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 178 shares during the last quarter. Stonepeak GP Investors Manager LLC acquired a new stake in shares of Targa Resources in the second quarter valued at approximately $15,551,000. Finally, GAM Holding AG increased its holdings in shares of Targa Resources by 63.5% in the second quarter. GAM Holding AG now owns 28,325 shares of the pipeline company’s stock valued at $1,280,000 after purchasing an additional 11,000 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

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