Duff & Phelps Investment Management Co. increased its position in Targa Resources Corp (NYSE:TRGP) by 18.6% during the third quarter, Holdings Channel reports. The firm owned 1,224,978 shares of the company’s stock after buying an additional 191,745 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Targa Resources Corp were worth $60,159,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Tocqueville Asset Management L.P. raised its position in Targa Resources Corp by 1.7% in the second quarter. Tocqueville Asset Management L.P. now owns 252,360 shares of the company’s stock worth $10,634,000 after buying an additional 4,165 shares during the period. State Board of Administration of Florida Retirement System raised its position in Targa Resources Corp by 40.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 223,365 shares of the company’s stock worth $9,412,000 after buying an additional 63,887 shares during the period. Williams Jones & Associates LLC raised its position in Targa Resources Corp by 78.1% in the second quarter. Williams Jones & Associates LLC now owns 20,696 shares of the company’s stock worth $872,000 after buying an additional 9,076 shares during the period. Nordea Investment Management AB raised its position in Targa Resources Corp by 117.6% in the second quarter. Nordea Investment Management AB now owns 15,348 shares of the company’s stock worth $647,000 after buying an additional 8,296 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Targa Resources Corp by 127.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 23,254 shares of the company’s stock worth $980,000 after buying an additional 13,044 shares during the period.

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

Shares of Targa Resources Corp (NYSE:TRGP) traded up 8.95% on Wednesday, reaching $52.94. The company’s stock had a trading volume of 592,041 shares. The stock has a 50 day moving average of $48.08 and a 200-day moving average of $44.52. Targa Resources Corp has a 12 month low of $14.55 and a 12 month high of $53.50. The firm’s market cap is $9.57 billion.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Wednesday, November 2nd were issued a $0.91 dividend. The ex-dividend date was Monday, October 31st. This represents a $3.64 annualized dividend and a dividend yield of 7.49%.

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TRGP has been the topic of a number of recent research reports. Wunderlich raised their price objective on Targa Resources Corp from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Stifel Nicolaus raised their price objective on Targa Resources Corp from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Vetr upgraded Targa Resources Corp from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, September 27th. Barclays PLC upgraded Targa Resources Corp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $47.00 to $55.00 in a research note on Tuesday, September 27th. Finally, Royal Bank Of Canada lifted their price target on Targa Resources Corp from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $44.77.

In other news, insider Jeffrey J. Mcparland sold 3,800 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $50.12, for a total value of $190,456.00. Following the transaction, the insider now owns 145,983 shares of the company’s stock, valued at $7,316,667.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey J. Mcparland sold 1,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $50.34, for a total transaction of $50,340.00. Following the completion of the transaction, the insider now directly owns 145,983 shares in the company, valued at approximately $7,348,784.22. 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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