Targa Resources, Inc. (TRGP) Position Increased by Cipher Capital LP

Cipher Capital LP grew its position in Targa Resources, Inc. (NYSE:TRGP) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,834 shares of the pipeline company’s stock after purchasing an additional 1,875 shares during the quarter. Cipher Capital LP’s holdings in Targa Resources were worth $1,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bollard Group LLC boosted its holdings in Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after purchasing an additional 27 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in Targa Resources by 1.7% in the first quarter. Hodges Capital Management Inc. now owns 5,950 shares of the pipeline company’s stock valued at $356,000 after purchasing an additional 100 shares during the last quarter. Baldwin Brothers Inc. MA boosted its holdings in Targa Resources by 0.7% in the second quarter. Baldwin Brothers Inc. MA now owns 15,278 shares of the pipeline company’s stock valued at $691,000 after purchasing an additional 100 shares during the last quarter. Usca Ria LLC boosted its holdings in Targa Resources by 3.7% in the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 178 shares during the last quarter. Finally, Gould Asset Management LLC CA boosted its holdings in Targa Resources by 2.1% in the first quarter. Gould Asset Management LLC CA now owns 10,448 shares of the pipeline company’s stock valued at $626,000 after purchasing an additional 210 shares during the last quarter. 87.42% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on TRGP. UBS AG reiterated a “buy” rating and issued a $65.00 price objective (down previously from $68.00) on shares of Targa Resources in a research report on Tuesday, May 30th. Credit Suisse Group set a $54.00 price target on shares of Targa Resources and gave the stock a “hold” rating in a research report on Sunday, May 28th. BidaskClub upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BMO Capital Markets restated a “hold” rating and set a $51.00 price target on shares of Targa Resources in a research report on Wednesday, July 12th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $53.00 price target (down previously from $65.00) on shares of Targa Resources in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Targa Resources currently has an average rating of “Buy” and an average price target of $54.53.

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In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $44.70, for a total value of $93,870.00. Following the sale, the insider now owns 50,853 shares in the company, valued at approximately $2,273,129.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.93% of the company’s stock.

Targa Resources, Inc. (NYSE TRGP) opened at 46.96 on Friday. The company’s 50 day moving average is $44.90 and its 200-day moving average is $49.24. The stock’s market cap is $10.12 billion. Targa Resources, Inc. has a 52-week low of $40.25 and a 52-week high of $61.83.

About Targa Resources

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.

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

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