Teachers Advisors LLC Has $22.60 Million Stake in Targa Resources, Inc. (TRGP)
Teachers Advisors LLC reduced its position in Targa Resources, Inc. (NYSE:TRGP) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500,027 shares of the pipeline company’s stock after selling 19,510 shares during the period. Teachers Advisors LLC owned about 0.25% of Targa Resources worth $22,601,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TRGP. BlackRock Inc. boosted its holdings in shares of Targa Resources by 2,928.1% during the first quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock worth $604,426,000 after purchasing an additional 9,757,325 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Targa Resources by 11.9% during the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock worth $955,142,000 after purchasing an additional 1,693,292 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Targa Resources by 30.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,721,135 shares of the pipeline company’s stock worth $303,795,000 after purchasing an additional 1,566,961 shares during the period. Boston Partners acquired a new stake in shares of Targa Resources during the second quarter worth approximately $65,883,000. Finally, Center Coast Capital Advisors LP boosted its holdings in shares of Targa Resources by 29.4% during the second quarter. Center Coast Capital Advisors LP now owns 5,508,319 shares of the pipeline company’s stock worth $248,976,000 after purchasing an additional 1,252,133 shares during the period. Institutional investors and hedge funds own 87.42% of the company’s stock.
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In other news, insider Dan C. Middlebrooks sold 2,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $44.70, for a total transaction of $93,870.00. Following the completion of the transaction, the insider now directly owns 50,853 shares of the company’s stock, valued at approximately $2,273,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.93% of the stock is owned by company insiders.
Several research firms recently commented on TRGP. Robert W. Baird restated a “buy” rating and set a $53.00 price target on shares of Targa Resources in a report on Sunday, September 17th. BidaskClub upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. ValuEngine cut shares of Targa Resources from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $49.00 price target (down from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Finally, Stifel Nicolaus set a $53.00 price target on shares of Targa Resources and gave the stock a “buy” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $54.53.
Shares of Targa Resources, Inc. (TRGP) opened at 46.96 on Friday. The stock has a 50 day moving average of $44.90 and a 200-day moving average of $49.24. Targa Resources, Inc. has a 52 week low of $40.25 and a 52 week high of $61.83. The firm’s market capitalization is $10.12 billion.
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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