Targa Resources Corp (NYSE:TRGP) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Goldman Sachs Group Inc. raised shares of Targa Resources Corp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $41.00 to $52.00 in a report on Monday, September 19th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $52.00 target price (up previously from $46.00) on shares of Targa Resources Corp in a report on Thursday, November 3rd. Evercore ISI began coverage on shares of Targa Resources Corp in a report on Thursday, September 15th. They issued a “hold” rating and a $45.00 target price for the company. Royal Bank Of Canada upped their target price on shares of Targa Resources Corp from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Finally, Vetr raised shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, September 27th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $44.77.

Analyst Recommendations for Targa Resources Corp (NYSE:TRGP)

Targa Resources Corp (NYSE:TRGP) opened at 53.29 on Thursday. Targa Resources Corp has a 12-month low of $14.55 and a 12-month high of $54.12. The stock’s market cap is $9.64 billion. The stock has a 50 day moving average price of $48.08 and a 200 day moving average price of $44.52.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Wednesday, November 2nd were given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date was Monday, October 31st.

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In other news, Vice Chairman Michael A. Heim sold 66,248 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $46.35, for a total transaction of $3,070,594.80. Following the transaction, the insider now directly owns 172,914 shares of the company’s stock, valued at $8,014,563.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Michael A. Heim sold 24,148 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $45.67, for a total transaction of $1,102,839.16. Following the transaction, the insider now directly owns 172,914 shares in the company, valued at $7,896,982.38. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Targa Resources Corp by 2,458.6% in the first quarter. Wellington Management Group LLP now owns 439,956 shares of the company’s stock worth $13,137,000 after buying an additional 422,761 shares during the period. LPL Financial LLC raised its position in shares of Targa Resources Corp by 224.6% in the first quarter. LPL Financial LLC now owns 34,042 shares of the company’s stock worth $955,000 after buying an additional 23,556 shares during the period. First Republic Investment Management Inc. bought a new position in shares of Targa Resources Corp during the first quarter worth approximately $1,104,000. BlueMountain Capital Management LLC raised its position in shares of Targa Resources Corp by 208.3% in the first quarter. BlueMountain Capital Management LLC now owns 16,441 shares of the company’s stock worth $491,000 after buying an additional 11,109 shares during the period. Finally, Hollencrest Securities LLC bought a new position in shares of Targa Resources Corp during the second quarter worth approximately $1,488,000.

About Targa Resources Corp

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.

5 Day Chart for NYSE:TRGP

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