Reaves W H & Co. Inc. grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 362,715 shares of the pipeline company’s stock after buying an additional 34,389 shares during the quarter. Reaves W H & Co. Inc. owned 0.17% of Targa Resources worth $17,156,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Bollard Group LLC boosted its holdings in shares of Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after buying an additional 27 shares during the period. CNH Partners LLC boosted its holdings in Targa Resources by 0.5% during the second quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock worth $981,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Targa Resources by 2.9% during the second quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 155 shares during the last quarter. Usca Ria LLC boosted its holdings in Targa Resources by 3.7% during the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 178 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Targa Resources by 3.6% during the second quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 86.84% of the company’s stock.

Several research firms have issued reports on TRGP. TheStreet lowered shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday. Wells Fargo & Company lowered shares of Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research report on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and set a $53.00 price target on shares of Targa Resources in a research report on Friday, November 3rd. BidaskClub raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Citigroup Inc. raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Targa Resources presently has a consensus rating of “Hold” and a consensus price target of $54.44.

Targa Resources, Inc. (TRGP) traded down $0.42 during trading on Friday, reaching $41.90. 1,362,800 shares of the company’s stock traded hands, compared to its average volume of 1,895,064. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57. Targa Resources, Inc. has a 52-week low of $39.59 and a 52-week high of $61.83.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were issued a dividend of $0.91 per share. The ex-dividend date was Tuesday, October 31st. This represents a $3.64 annualized dividend and a yield of 8.69%. Targa Resources’s payout ratio is -136.84%.

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Targa Resources 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.

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

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