Targa Resources Corp (TRGP) Downgraded to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Targa Resources Corp (NYSE:TRGP) from a buy rating to a hold rating in a report issued on Thursday. They currently have $52.00 price target on the stock, up from their prior price target of $50.00.

TRGP has been the subject of several other reports. RBC Capital Markets restated an outperform rating and issued a $52.00 price objective (up from $46.00) on shares of Targa Resources Corp in a research note on Thursday, November 3rd. Royal Bank Of Canada raised their price objective on Targa Resources Corp from $46.00 to $52.00 and gave the stock an outperform rating in a research note on Thursday, November 3rd. Vetr upgraded Targa Resources Corp from a hold rating to a buy rating and set a $50.00 price objective for the company in a research note on Tuesday, September 27th. Barclays PLC upgraded Targa Resources Corp from an equal weight rating to an overweight rating and raised their price objective for the stock from $47.00 to $55.00 in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. upgraded Targa Resources Corp from a neutral rating to a buy rating and raised their price objective for the stock from $41.00 to $52.00 in a research note on Monday, September 19th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $44.90.

Analyst Recommendations for Targa Resources Corp (NYSE:TRGP)

Targa Resources Corp (NYSE:TRGP) traded up 0.75% on Thursday, reaching $52.25. The company had a trading volume of 755,749 shares. The stock’s 50 day moving average is $48.28 and its 200-day moving average is $44.69. The stock’s market capitalization is $9.45 billion. Targa Resources Corp has a 1-year low of $14.55 and a 1-year high of $54.12.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Wednesday, November 2nd were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 7.02%. The ex-dividend date was Monday, October 31st.

In other news, insider Jeffrey J. Mcparland sold 25,100 shares of Targa Resources Corp stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $45.50, for a total value of $1,142,050.00. Following the sale, the insider now directly owns 145,983 shares of the company’s stock, valued at $6,642,226.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey J. Mcparland sold 1,000 shares of Targa Resources Corp stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $50.34, for a total value of $50,340.00. Following the completion of the sale, the insider now directly owns 145,983 shares in the company, valued at $7,348,784.22. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of TRGP. Bollard Group LLC raised its stake in shares of Targa Resources Corp by 1.3% in the second quarter. Bollard Group LLC now owns 2,418 shares of the company’s stock worth $102,000 after buying an additional 31 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Targa Resources Corp by 1,288.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,485 shares of the company’s stock worth $122,000 after buying an additional 2,306 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Targa Resources Corp by 33.0% in the third quarter. D.A. Davidson & CO. now owns 2,556 shares of the company’s stock worth $125,000 after buying an additional 634 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Targa Resources Corp during the third quarter worth approximately $143,000. Finally, Glenmede Trust Co. NA increased its position in shares of Targa Resources Corp by 73.4% in the second quarter. Glenmede Trust Co. NA now owns 4,217 shares of the company’s stock worth $176,000 after buying an additional 1,785 shares during 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.

5 Day Chart for NYSE:TRGP

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