Benedict Financial Advisors Inc. raised its position in Targa Resources Corp (NYSE:TRGP) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,002 shares of the company’s stock after buying an additional 49 shares during the period. Benedict Financial Advisors Inc.’s holdings in Targa Resources Corp were worth $427,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of TRGP. Bollard Group LLC increased its position in 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 during the period. E&G Advisors LP purchased a new position in Targa Resources Corp during the second quarter worth approximately $208,000. FFT Wealth Management LLC purchased a new position in Targa Resources Corp during the first quarter worth approximately $214,000. Seven Eight Capital LLC purchased a new position in Targa Resources Corp during the first quarter worth approximately $234,000. Finally, Virginia Retirement System purchased a new position in Targa Resources Corp during the first quarter worth approximately $257,000.
Shares of Targa Resources Corp (NYSE:TRGP) traded down 0.12% on Monday, hitting $49.05. The stock had a trading volume of 1,454,669 shares. The stock’s market cap is $8.17 billion. The firm’s 50-day moving average is $45.79 and its 200 day moving average is $40.55. Targa Resources Corp has a 1-year low of $14.55 and a 1-year high of $66.87.
Targa Resources Corp (NYSE:TRGP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.07. Equities analysts forecast that Targa Resources Corp will post ($0.40) EPS for the current year.
A number of equities analysts have recently commented on TRGP shares. Wunderlich raised their price objective on Targa Resources Corp from $44.00 to $45.00 and gave the stock a “hold” rating in a report on Wednesday, August 31st. Stifel Nicolaus raised their price objective on Targa Resources Corp from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Zacks Investment Research upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Targa Resources Corp in a report on Thursday, June 16th. Finally, Vetr upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, September 27th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.70.
In other news, insider D. Scott Pryor sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $37.66, for a total value of $282,450.00. Following the sale, the insider now directly owns 60,553 shares in the company, valued at approximately $2,280,425.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joe Bob Perkins sold 1,405 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $50.03, for a total value of $70,292.15. Following the completion of the sale, the chief executive officer now owns 435,042 shares in the company, valued at $21,765,151.26. The disclosure for this sale can be found here.
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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