Caisse DE Depot ET Placement DU Quebec Purchases 11,318 Shares of Targa Resources, Inc. (TRGP)

Caisse DE Depot ET Placement DU Quebec increased its stake in Targa Resources, Inc. (NYSE:TRGP) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 176,338 shares of the pipeline company’s stock after buying an additional 11,318 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.09% of Targa Resources worth $10,574,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Targa Resources by 11.9% in the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock valued at $955,142,000 after buying an additional 1,693,292 shares during the period. OppenheimerFunds Inc. increased its position in shares of Targa Resources by 7.3% in the first quarter. OppenheimerFunds Inc. now owns 8,956,121 shares of the pipeline company’s stock valued at $536,472,000 after buying an additional 611,465 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Targa Resources by 1.4% in the first quarter. Chickasaw Capital Management LLC now owns 7,677,033 shares of the pipeline company’s stock valued at $459,854,000 after buying an additional 104,819 shares during the period. Stonepeak GP Investors Manager LLC bought a new position in shares of Targa Resources during the fourth quarter valued at about $428,014,000. Finally, Kayne Anderson Capital Advisors LP increased its position in shares of Targa Resources by 8.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 6,732,091 shares of the pipeline company’s stock valued at $403,240,000 after buying an additional 512,500 shares during the period. Institutional investors and hedge funds own 79.94% of the company’s stock.

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

Targa Resources, Inc. (NYSE:TRGP) traded down 1.15% during mid-day trading on Monday, reaching $43.00. The company had a trading volume of 1,433,600 shares. Targa Resources, Inc. has a one year low of $35.35 and a one year high of $61.83. The firm’s market capitalization is $8.52 billion. The firm’s 50-day moving average is $48.59 and its 200-day moving average is $55.06.

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Several analysts have weighed in on TRGP shares. ValuEngine cut Targa Resources from a “hold” rating to a “sell” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $56.00 price objective on Targa Resources and gave the stock a “neutral” rating in a report on Friday, May 5th. Macquarie started coverage on Targa Resources in a report on Friday, April 21st. They set an “outperform” rating and a $65.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating and set a $69.00 price objective on shares of Targa Resources in a report on Wednesday, March 29th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $67.00 price objective on shares of Targa Resources in a report on Monday, May 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.44.

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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