Targa Resources Corp (NYSE:TRGP) declared a quarterly dividend on Wednesday, October 19th. Shareholders of record on Wednesday, November 2nd will be given a dividend of 0.91 per share on Tuesday, November 15th. This represents a $3.64 annualized dividend and a yield of 7.57%.

Targa Resources Corp (NYSE:TRGP) traded up 2.14% during trading on Wednesday, reaching $48.10. 1,445,989 shares of the company’s stock traded hands. Targa Resources Corp has a 12 month low of $14.55 and a 12 month high of $63.56. The firm has a 50 day moving average price of $47.33 and a 200-day moving average price of $42.01. The firm’s market cap is $8.01 billion.

Targa Resources Corp (NYSE:TRGP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.07. On average, analysts forecast that Targa Resources Corp will post ($0.40) earnings per share for the current fiscal year.

Dividend History for Targa Resources Corp (NYSE:TRGP)

Several research firms have recently weighed in on TRGP. Stifel Nicolaus lowered shares of Targa Resources Corp from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, September 28th. They noted that the move was a valuation call. Vetr upgraded shares of Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, September 27th. Barclays PLC upgraded shares of Targa Resources Corp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $47.00 to $55.00 in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded shares of Targa Resources Corp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $52.00 in a research note on Monday, September 19th. Finally, Evercore ISI began coverage on shares of Targa Resources Corp in a research note on Thursday, September 15th. They set a “hold” rating and a $45.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.70.

In other news, CEO Joe Bob Perkins sold 7,843 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $50.45, for a total transaction of $395,679.35. Following the completion of the sale, the chief executive officer now directly owns 435,042 shares in the company, valued at $21,947,868.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider D. Scott Pryor sold 7,500 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $37.66, for a total transaction of $282,450.00. Following the sale, the insider now owns 60,553 shares of the company’s stock, valued at $2,280,425.98. The disclosure for this sale can be found here.

Several large investors have recently bought and sold shares of the company. SL Advisors LLC bought a new stake in Targa Resources Corp during the second quarter worth approximately $5,347,000. Nationwide Fund Advisors boosted its stake in Targa Resources Corp by 32.8% in the second quarter. Nationwide Fund Advisors now owns 7,970 shares of the company’s stock worth $336,000 after buying an additional 1,970 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Targa Resources Corp by 17.7% in the second quarter. BlackRock Investment Management LLC now owns 80,111 shares of the company’s stock worth $3,376,000 after buying an additional 12,047 shares during the last quarter. BlackRock Inc. boosted its stake in Targa Resources Corp by 32.7% in the second quarter. BlackRock Inc. now owns 169,774 shares of the company’s stock worth $7,154,000 after buying an additional 41,875 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in 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.

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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