GAM Holding AG raised its stake in Targa Resources, Inc. (NYSE:TRGP) by 63.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,325 shares of the pipeline company’s stock after buying an additional 11,000 shares during the period. GAM Holding AG’s holdings in Targa Resources were worth $1,280,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in Targa Resources by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 233,816 shares of the pipeline company’s stock worth $14,006,000 after buying an additional 2,468 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Targa Resources by 21.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 557,585 shares of the pipeline company’s stock worth $33,399,000 after buying an additional 97,714 shares during the period. Eqis Capital Management Inc. increased its stake in Targa Resources by 36.1% in the first quarter. Eqis Capital Management Inc. now owns 5,484 shares of the pipeline company’s stock worth $328,000 after buying an additional 1,454 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in Targa Resources by 16.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 8,290 shares of the pipeline company’s stock worth $497,000 after buying an additional 1,196 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Targa Resources by 171.9% in the first quarter. Canada Pension Plan Investment Board now owns 226,682 shares of the pipeline company’s stock worth $13,578,000 after buying an additional 143,300 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Targa Resources, Inc. (TRGP) opened at 43.73 on Thursday. Targa Resources, Inc. has a one year low of $40.25 and a one year high of $61.83. The firm’s market capitalization is $9.43 billion. The firm has a 50-day moving average price of $45.01 and a 200-day moving average price of $50.79.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $3.64 dividend on an annualized basis and a yield of 8.32%.

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A number of research firms recently commented on TRGP. ValuEngine raised Targa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Robert W. Baird decreased their target price on Targa Resources from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, June 30th. Credit Suisse Group decreased their target price on Targa Resources from $66.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, May 15th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $53.00 target price (down previously from $65.00) on shares of Targa Resources in a report on Monday, June 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Targa Resources in a report on Monday, May 15th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.89.

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 transaction of $93,870.00. Following the completion of the sale, the insider now owns 50,853 shares in the company, valued at approximately $2,273,129.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

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

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