Targa Resources Corp (NYSE:TRGP) insider Jeffrey J. Mcparland sold 7,200 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $48.86, for a total value of $351,792.00. Following the transaction, the insider now directly owns 145,983 shares of the company’s stock, valued at $7,132,729.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Targa Resources Corp (NYSE:TRGP) opened at 48.92 on Thursday. The firm’s market cap is $8.15 billion. Targa Resources Corp has a 52-week low of $14.55 and a 52-week high of $66.49. The stock has a 50 day moving average price of $46.09 and a 200 day moving average price of $40.75.

Targa Resources Corp (NYSE:TRGP) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.07. Equities analysts predict that Targa Resources Corp will post ($0.40) earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Targa Resources Corp (NYSE:TRGP)

A number of large investors have recently modified their holdings of TRGP. Vanguard Group Inc. boosted its stake in shares of Targa Resources Corp by 3.2% in the second quarter. Vanguard Group Inc. now owns 11,499,560 shares of the company’s stock worth $484,592,000 after buying an additional 359,214 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Targa Resources Corp by 288.0% in the first quarter. Goldman Sachs Group Inc. now owns 9,961,109 shares of the company’s stock worth $297,439,000 after buying an additional 7,394,011 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Targa Resources Corp by 5.3% in the second quarter. Chickasaw Capital Management LLC now owns 7,786,586 shares of the company’s stock worth $328,127,000 after buying an additional 393,976 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of Targa Resources Corp by 90.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 6,228,103 shares of the company’s stock worth $262,438,000 after buying an additional 2,961,964 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Targa Resources Corp by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,022,998 shares of the company’s stock worth $169,529,000 after buying an additional 18,871 shares during the last quarter.

Several research analysts have recently weighed in on the company. Stifel Nicolaus cut Targa Resources Corp from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Wednesday, September 28th. They noted that the move was a valuation call. Vetr upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, September 27th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Targa Resources Corp in a report on Thursday, June 16th. Barclays PLC upgraded Targa Resources Corp from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $47.00 to $55.00 in a report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, July 5th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.70.

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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