US Bancorp DE raised its position in Targa Resources, Inc. (NYSE:TRGP) by 22.7% during the second quarter, Holdings Channel reports. The firm owned 13,795 shares of the pipeline company’s stock after buying an additional 2,549 shares during the period. US Bancorp DE’s holdings in Targa Resources were worth $623,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Targa Resources by 11.9% in the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock worth $955,142,000 after buying an additional 1,693,292 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of 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 worth $859,430,000 after buying an additional 1,097,748 shares during the period. BlackRock Inc. increased its stake in shares of Targa Resources by 2,928.1% in the first quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock worth $604,426,000 after buying an additional 9,757,325 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Targa Resources by 7.3% in the first quarter. OppenheimerFunds Inc. now owns 8,956,121 shares of the pipeline company’s stock worth $536,472,000 after buying an additional 611,465 shares during the period. Finally, Chickasaw Capital Management LLC increased its stake in shares of Targa Resources by 1.4% in the first quarter. Chickasaw Capital Management LLC now owns 7,677,033 shares of the pipeline company’s stock worth $459,854,000 after buying an additional 104,819 shares during the period. Institutional investors own 83.02% of the company’s stock.

Targa Resources, Inc. (TRGP) traded down 1.92% on Tuesday, hitting $42.88. The stock had a trading volume of 634,691 shares. The firm’s market cap is $9.25 billion. Targa Resources, Inc. has a 52-week low of $40.25 and a 52-week high of $61.83. The company’s 50 day moving average price is $45.15 and its 200 day moving average price is $51.69.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 8.33%. The ex-dividend date is Friday, July 28th.

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TRGP has been the topic of a number of research reports. Barclays PLC downgraded Targa Resources from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $55.00 to $47.00 in a research report on Tuesday, July 18th. ValuEngine downgraded Targa Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. BMO Capital Markets set a $51.00 price target on Targa Resources and gave the company a “hold” rating in a research report on Tuesday. Credit Suisse Group set a $56.00 price target on Targa Resources and gave the company a “neutral” rating in a research report on Friday, May 5th. Finally, Wells Fargo & Company upgraded Targa Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources currently has an average rating of “Buy” and an average target price of $53.95.

In other news, insider Dan C. Middlebrooks sold 2,100 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $44.70, for a total transaction of $93,870.00. Following the sale, the insider now directly owns 50,853 shares in the company, valued at approximately $2,273,129.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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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