BlueMountain Capital Management LLC acquired a new position in Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,248 shares of the pipeline company’s stock, valued at approximately $1,548,000.

A number of other large investors have also added to or reduced their stakes in the business. Bollard Group LLC raised its position in Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after acquiring an additional 27 shares in the last quarter. Baldwin Brothers Inc. MA raised its position 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 acquiring an additional 100 shares in the last quarter. Usca Ria LLC raised its position in Targa Resources by 3.7% in the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 178 shares in the last quarter. Gould Asset Management LLC CA raised its position 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 worth $626,000 after acquiring an additional 210 shares in the last quarter. Finally, Johnson Financial Group LLC raised its position in Targa Resources by 5.2% in the second quarter. Johnson Financial Group LLC now owns 4,646 shares of the pipeline company’s stock worth $209,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.

Targa Resources, Inc. (NYSE TRGP) opened at 47.23 on Tuesday. The stock’s market cap is $10.18 billion. The stock has a 50 day moving average price of $44.87 and a 200-day moving average price of $49.32. Targa Resources, Inc. has a 12 month low of $40.25 and a 12 month high of $61.83.

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In other news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,273,129.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is currently owned by insiders.

TRGP has been the subject of several research analyst reports. 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. Stifel Nicolaus set a $63.00 price objective on Targa Resources and gave the stock a “buy” rating in a research report on Monday, June 26th. Jefferies Group LLC upgraded Targa Resources from a “hold” rating to a “buy” rating and cut their price objective for the stock from $54.00 to $50.00 in a research report on Wednesday, July 12th. Citigroup Inc. cut their price objective on Targa Resources from $64.00 to $54.00 and set a “buy” rating for the company in a research report on Wednesday, June 28th. Finally, Guggenheim upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.39.

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.

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

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