Targa Resources Corp (NYSE:TRGP) insider Jeffrey J. Mcparland sold 1,000 shares of Targa Resources Corp stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $50.34, for a total transaction of $50,340.00. Following the sale, the insider now directly owns 145,983 shares in the company, valued at $7,348,784.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Targa Resources Corp (NYSE:TRGP) opened at 49.26 on Thursday. Targa Resources Corp has a 52-week low of $14.55 and a 52-week high of $66.87. The company’s 50-day moving average is $45.18 and its 200 day moving average is $40.04. The firm’s market capitalization is $8.21 billion.
Targa Resources Corp (NYSE:TRGP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.07. Analysts expect that Targa Resources Corp will post ($0.36) EPS for the current fiscal year.
Several brokerages recently issued reports on TRGP. Stifel Nicolaus lowered shares of Targa Resources Corp from a “buy” rating to a “hold” rating in a report on Wednesday. Vetr raised shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday. Barclays PLC raised shares of Targa Resources Corp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $47.00 to $55.00 in a report on Tuesday. Goldman Sachs Group Inc. raised shares of Targa Resources Corp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $41.00 to $52.00 in a report on Monday, September 19th. Finally, Evercore ISI began coverage on shares of Targa Resources Corp in a report on Thursday, September 15th. They set a “hold” rating and a $45.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Targa Resources Corp presently has an average rating of “Hold” and an average price target of $47.70.
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in Targa Resources Corp by 188.9% in the first quarter. State Street Corp now owns 2,168,638 shares of the company’s stock valued at $64,753,000 after buying an additional 1,417,974 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Targa Resources Corp during the first quarter valued at about $31,678,000. Omega Advisors Inc. raised its position in Targa Resources Corp by 116.8% in the first quarter. Omega Advisors Inc. now owns 2,716,393 shares of the company’s stock valued at $81,111,000 after buying an additional 1,463,722 shares in the last quarter. BlackRock Fund Advisors raised its position in Targa Resources Corp by 185.3% in the first quarter. BlackRock Fund Advisors now owns 1,959,893 shares of the company’s stock valued at $58,522,000 after buying an additional 1,272,843 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Targa Resources Corp by 209.4% in the first quarter. Geode Capital Management LLC now owns 989,187 shares of the company’s stock valued at $29,537,000 after buying an additional 669,492 shares in the last quarter.
Targa Resources Corp Company Profile
Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products.
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