Virginia Retirement Systems ET AL Purchases 6,400 Shares of Targa Resources, Inc. (TRGP)
Virginia Retirement Systems ET AL boosted its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 22.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,288 shares of the pipeline company’s stock after buying an additional 6,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Targa Resources were worth $1,595,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Capstone Asset Management Co. purchased a new position in shares of Targa Resources during the first quarter valued at about $254,000. State of Alaska Department of Revenue purchased a new position in shares of Targa Resources during the first quarter valued at about $264,000. Candriam Luxembourg S.C.A. boosted its position in shares of Targa Resources by 35.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 13,067 shares of the pipeline company’s stock valued at $783,000 after buying an additional 3,410 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Targa Resources by 12.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,833 shares of the pipeline company’s stock valued at $271,000 after buying an additional 520 shares in the last quarter. Finally, Korea Investment CORP boosted its position in shares of Targa Resources by 40.8% in the first quarter. Korea Investment CORP now owns 86,040 shares of the pipeline company’s stock valued at $5,154,000 after buying an additional 24,943 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.
Shares of Targa Resources, Inc. (NYSE TRGP) opened at 44.57 on Friday. The stock’s market capitalization is $9.61 billion. Targa Resources, Inc. has a 52-week low of $40.25 and a 52-week high of $61.83. The company has a 50 day moving average of $44.96 and a 200 day moving average of $50.36.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $3.64 annualized dividend and a yield of 8.17%.
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Several equities analysts have issued reports on TRGP shares. Jefferies Group LLC reissued a “hold” rating on shares of Targa Resources in a research note on Friday, May 5th. Raymond James Financial, Inc. raised shares of Targa Resources from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $64.00 to $55.00 in a research note on Friday, May 5th. Credit Suisse Group set a $56.00 price objective on shares of Targa Resources and gave the company a “neutral” rating in a research note on Friday, May 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of Targa Resources in a research note on Monday, May 8th. Finally, UBS AG reissued a “buy” rating and issued a $65.00 price objective (down from $68.00) on shares of Targa Resources in a research note on Tuesday, May 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $54.39.
In related news, insider Dan C. Middlebrooks sold 2,100 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.93% of the company’s stock.
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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