Xact Kapitalforvaltning AB Boosts Stake in Targa Resources, Inc. (NYSE:TRGP)

Xact Kapitalforvaltning AB raised its position in Targa Resources, Inc. (NYSE:TRGP) by 23.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,273 shares of the pipeline company’s stock after buying an additional 3,430 shares during the period. Xact Kapitalforvaltning AB’s holdings in Targa Resources were worth $826,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TRGP. Franklin Resources Inc. boosted its position in shares of Targa Resources by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 15,360 shares of the pipeline company’s stock worth $861,000 after buying an additional 60 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Targa Resources by 131.4% in the fourth quarter. AQR Capital Management LLC now owns 24,352 shares of the pipeline company’s stock worth $1,365,000 after buying an additional 13,829 shares during the last quarter. Numeric Investors LLC acquired a new position in shares of Targa Resources during the fourth quarter worth about $275,000. UBS Asset Management Americas Inc. raised its position in Targa Resources by 132.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 345,582 shares of the pipeline company’s stock worth $19,376,000 after buying an additional 196,758 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Targa Resources by 54.7% in the fourth quarter. Teachers Advisors LLC now owns 545,269 shares of the pipeline company’s stock worth $30,573,000 after buying an additional 192,910 shares in the last quarter. Institutional investors own 79.94% of the company’s stock.

Shares of Targa Resources, Inc. (TRGP) opened at 46.65 on Thursday. The firm’s 50-day moving average is $44.32 and its 200 day moving average is $53.36. Targa Resources, Inc. has a 1-year low of $35.35 and a 1-year high of $61.83. The stock’s market capitalization is $9.24 billion.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 7.80%.

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A number of equities analysts have recently weighed in on TRGP shares. Deutsche Bank AG reissued a “buy” rating and issued a $69.00 price objective on shares of Targa Resources in a research report on Wednesday, March 29th. Jefferies Group LLC reissued a “hold” rating and issued a $54.00 price objective on shares of Targa Resources in a research report on Tuesday, April 4th. BMO Capital Markets reissued a “hold” rating and issued a $49.00 price objective on shares of Targa Resources in a research report on Monday, April 17th. Guggenheim started coverage on shares of Targa Resources in a research report on Monday, April 17th. They issued a “neutral” rating and a $54.00 price objective for the company. Finally, Macquarie started coverage on shares of Targa Resources in a research report on Friday, April 21st. They issued an “outperform” rating and a $65.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $54.58.

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

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