Comerica Bank Boosts Stake in Targa Resources Corp (TRGP)

Comerica Bank increased its stake in shares of Targa Resources Corp (NYSE:TRGP) by 51.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,764 shares of the company’s stock after buying an additional 8,402 shares during the period. Comerica Bank’s holdings in Targa Resources Corp were worth $1,435,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bollard Group LLC increased its stake in Targa Resources Corp by 1.3% in the third quarter. Bollard Group LLC now owns 2,449 shares of the company’s stock valued at $120,000 after buying an additional 31 shares in the last quarter. Usca Ria LLC increased its stake in Targa Resources Corp by 1.2% in the third quarter. Usca Ria LLC now owns 6,507 shares of the company’s stock valued at $320,000 after buying an additional 77 shares in the last quarter. Private Trust Co. NA increased its stake in Targa Resources Corp by 2.6% in the third quarter. Private Trust Co. NA now owns 7,342 shares of the company’s stock valued at $360,000 after buying an additional 185 shares in the last quarter. Baldwin Brothers Inc. MA increased its stake in Targa Resources Corp by 1.5% in the third quarter. Baldwin Brothers Inc. MA now owns 15,178 shares of the company’s stock valued at $745,000 after buying an additional 225 shares in the last quarter. Finally, Advisor Group Inc. increased its stake in Targa Resources Corp by 4.8% in the third quarter. Advisor Group Inc. now owns 5,024 shares of the company’s stock valued at $217,000 after buying an additional 230 shares in the last quarter. 76.97% of the stock is owned by hedge funds and other institutional investors.

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

Targa Resources Corp (NYSE:TRGP) opened at 56.92 on Tuesday. The firm’s market cap is $11.04 billion. The firm’s 50-day moving average price is $57.90 and its 200 day moving average price is $52.78. Targa Resources Corp has a 52-week low of $26.46 and a 52-week high of $61.83.

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Several research firms have commented on TRGP. Stifel Nicolaus raised Targa Resources Corp from a “hold” rating to a “buy” rating and upped their price objective for the company from $64.00 to $65.00 in a research note on Monday, March 13th. Evercore ISI raised Targa Resources Corp from an “in-line” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Monday, March 6th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Targa Resources Corp in a research note on Tuesday, February 14th. Credit Suisse Group AG upped their price objective on Targa Resources Corp from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 24th. Finally, Raymond James Financial, Inc. raised Targa Resources Corp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective for the company in a research note on Thursday, January 12th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.78.

In other Targa Resources Corp news, CEO Joe Bob Perkins sold 50,000 shares of the firm’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of $60.09, for a total transaction of $3,004,500.00. Following the completion of the transaction, the chief executive officer now owns 461,182 shares of the company’s stock, valued at $27,712,426.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey J. Mcparland sold 9,600 shares of the firm’s stock in a transaction on Friday, January 20th. The shares were sold at an average price of $60.07, for a total value of $576,672.00. Following the transaction, the insider now directly owns 154,581 shares of the company’s stock, valued at approximately $9,285,680.67. The disclosure for this sale can be found here. Insiders sold 105,000 shares of company stock valued at $6,264,192 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Targa Resources Corp 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.

5 Day Chart for NYSE:TRGP

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