Signature Financial Management Inc. boosted its position in Targa Resources, Inc. (NYSE:TRGP) by 24.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,800 shares of the pipeline company’s stock after buying an additional 2,300 shares during the period. Signature Financial Management Inc.’s holdings in Targa Resources were worth $534,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TRGP. Bollard Group LLC raised its stake in Targa Resources by 0.9% in the first quarter. Bollard Group LLC now owns 2,499 shares of the pipeline company’s stock worth $150,000 after buying an additional 23 shares during the period. Linscomb & Williams Inc. raised its stake in Targa Resources by 0.3% in the first quarter. Linscomb & Williams Inc. now owns 9,639 shares of the pipeline company’s stock worth $577,000 after buying an additional 33 shares during the period. Private Trust Co. NA raised its stake in Targa Resources by 0.7% in the first quarter. Private Trust Co. NA now owns 7,463 shares of the pipeline company’s stock worth $447,000 after buying an additional 51 shares during the period. Hodges Capital Management Inc. raised its stake 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 worth $356,000 after buying an additional 100 shares during the period. Finally, Baldwin Brothers Inc. MA raised its stake 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 worth $691,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.

Targa Resources, Inc. (TRGP) opened at 44.30 on Friday. The firm’s market capitalization is $9.55 billion. The stock has a 50 day moving average price of $45.12 and a 200-day moving average price of $51.91. Targa Resources, Inc. has a 52 week low of $40.25 and a 52 week high of $61.83.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $3.64 annualized dividend and a dividend yield of 8.22%.

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TRGP has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $49.00 price target on shares of Targa Resources in a research report on Monday, April 17th. Guggenheim initiated coverage on Targa Resources in a research report on Monday, April 17th. They issued a “neutral” rating and a $54.00 price target on the stock. Macquarie initiated coverage on Targa Resources in a research report on Friday, April 21st. They issued an “outperform” rating and a $65.00 price target on the stock. Seaport Global Securities upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Targa Resources in a research report on Friday, May 5th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $54.16.

In related news, insider Dan C. Middlebrooks sold 2,100 shares of the firm’s stock in a transaction dated 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 directly owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.93% of the stock is owned by company insiders.

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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