Targa Resources Corp (NYSE:TRGP) insider Jeffrey J. Mcparland sold 7,200 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $48.86, for a total value of $351,792.00. Following the sale, the insider now directly owns 145,983 shares in the company, valued at approximately $7,132,729.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Targa Resources Corp (NYSE:TRGP) opened at 48.91 on Friday. The company has a 50-day moving average price of $46.25 and a 200-day moving average price of $40.80. The company’s market capitalization is $8.15 billion. Targa Resources Corp has a 12 month low of $14.55 and a 12 month high of $66.39.
Targa Resources Corp (NYSE:TRGP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.07. On average, equities analysts anticipate that Targa Resources Corp will post ($0.40) EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services Inc acquired a new stake in Targa Resources Corp during the first quarter valued at about $664,000. Virginia Retirement System acquired a new stake in Targa Resources Corp during the first quarter valued at about $257,000. CIBC World Markets Inc. acquired a new stake in Targa Resources Corp during the first quarter valued at about $435,000. TIAA CREF Investment Management LLC raised its stake in Targa Resources Corp by 191.8% in the first quarter. TIAA CREF Investment Management LLC now owns 709,758 shares of the company’s stock valued at $21,193,000 after buying an additional 466,505 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Targa Resources Corp by 817.6% in the first quarter. Teachers Advisors Inc. now owns 410,858 shares of the company’s stock valued at $12,268,000 after buying an additional 366,084 shares during the last quarter.
Several equities research analysts recently weighed in on TRGP shares. Vetr raised Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, September 27th. Wunderlich raised their price objective on Targa Resources Corp from $44.00 to $45.00 and gave the company a “hold” rating in a report on Wednesday, August 31st. Zacks Investment Research downgraded Targa Resources Corp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Targa Resources Corp in a report on Thursday, June 16th. Finally, Stifel Nicolaus downgraded Targa Resources Corp from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a report on Wednesday, September 28th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $47.70.
About Targa Resources Corp
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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