Targa Resources Corp (NYSE:TRGP) Vice Chairman Michael A. Heim sold 66,248 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $46.35, for a total value of $3,070,594.80. Following the completion of the sale, the insider now owns 172,914 shares of the company’s stock, valued at approximately $8,014,563.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Targa Resources Corp (NYSE:TRGP) opened at 48.59 on Thursday. The stock’s market capitalization is $8.10 billion. The stock has a 50 day moving average price of $47.52 and a 200-day moving average price of $43.53. Targa Resources Corp has a 1-year low of $14.55 and a 1-year high of $50.87.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Wednesday, November 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date is Monday, October 31st.

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. acquired a new stake in shares of Targa Resources Corp during the first quarter worth about $264,000. BlackRock Fund Advisors raised its stake in shares of Targa Resources Corp by 185.3% in the first quarter. BlackRock Fund Advisors now owns 1,959,893 shares of the company’s stock worth $58,522,000 after buying an additional 1,272,843 shares in the last quarter. State Street Corp raised its stake in shares of Targa Resources Corp by 188.9% in the first quarter. State Street Corp now owns 2,168,638 shares of the company’s stock worth $64,753,000 after buying an additional 1,417,974 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Targa Resources Corp by 222.1% in the first quarter. UBS Asset Management Americas Inc. now owns 130,281 shares of the company’s stock worth $3,890,000 after buying an additional 89,828 shares in the last quarter. Finally, Riverhead Capital Management LLC acquired a new stake in shares of Targa Resources Corp during the first quarter worth about $3,316,000.

TRGP has been the subject of several recent research reports. Vetr upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, September 27th. Stifel Nicolaus upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $48.00 to $50.00 in a research report on Thursday, November 3rd. Goldman Sachs Group Inc. upgraded Targa Resources Corp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $52.00 in a research report on Monday, September 19th. Evercore ISI initiated coverage on Targa Resources Corp in a research report on Thursday, September 15th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Wunderlich boosted their price objective on Targa Resources Corp from $44.00 to $45.00 and gave the company a “hold” rating in a research report on Wednesday, August 31st. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $44.77.

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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