Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its position in Targa Resources Corp (NYSE:TRGP) by 25.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 45,480 shares of the company’s stock after selling 15,655 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Targa Resources Corp were worth $2,234,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Targa Resources Corp by 2,458.6% in the first quarter. Wellington Management Group LLP now owns 439,956 shares of the company’s stock worth $13,137,000 after buying an additional 422,761 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Targa Resources Corp by 13.2% in the first quarter. Renaissance Technologies LLC now owns 549,986 shares of the company’s stock worth $16,423,000 after buying an additional 63,975 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Targa Resources Corp by 224.6% in the first quarter. LPL Financial LLC now owns 34,042 shares of the company’s stock worth $955,000 after buying an additional 23,556 shares during the last quarter. Seven Eight Capital LLC acquired a new stake in Targa Resources Corp during the first quarter valued at approximately $234,000. Finally, Avalon Advisors LLC acquired a new stake in Targa Resources Corp during the first quarter valued at approximately $287,000.

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

Shares of Targa Resources Corp (NYSE:TRGP) traded down 4.56% during mid-day trading on Monday, hitting $49.57. The stock had a trading volume of 1,894,412 shares. The stock’s 50-day moving average price is $48.08 and its 200-day moving average price is $44.52. Targa Resources Corp has a 12-month low of $14.55 and a 12-month high of $53.34. The stock’s market capitalization is $8.96 billion.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Wednesday, November 2nd were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 7.01%. The ex-dividend date was Monday, October 31st.

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TRGP has been the topic of several analyst reports. Wunderlich raised their target price 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. Stifel Nicolaus raised their target price on Targa Resources Corp from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. 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 research report on Tuesday, September 27th. Barclays PLC upgraded Targa Resources Corp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $47.00 to $55.00 in a research report on Tuesday, September 27th. Finally, Royal Bank Of Canada raised their target price on Targa Resources Corp from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.77.

In related news, insider Jeffrey J. Mcparland sold 25,100 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $45.50, for a total value of $1,142,050.00. Following the completion of the transaction, the insider now owns 145,983 shares in the company, valued at approximately $6,642,226.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joe Bob Perkins sold 7,843 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $50.45, for a total transaction of $395,679.35. Following the completion of the transaction, the chief executive officer now owns 435,042 shares of the company’s stock, valued at approximately $21,947,868.90. The disclosure for this sale can be found here.

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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