November 23, 2016 - By Richard Conner
Jeffrey Mcparland, the See Remarks of Targa Resources Corp, unloaded 400 shares of the company, valued by the market at around $20,045 USD, which is based on a market stock price of $50.1 for share. This is not his first insider trade, in the last 30 days, he unloaded another 11,000 shares worth $518,618 USD. Jeffrey Mcparland now has rights to 446,173 shares which make up precisely 0.25% of the Texas-based company’s market capitalization.
Out of 12 analysts covering Targa Resources (NYSE:TRGP), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. $110 is the highest target while $24 is the lowest. The $54.86 average target is 5.85% above today’s ($51.83) stock price. Targa Resources has been the topic of 33 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, June 8 by Jefferies. Stifel Nicolaus upgraded Targa Resources Corp (NYSE:TRGP) on Thursday, November 3 to “Buy” rating. RBC Capital Markets maintained it with “Outperform” rating and $110 target price in Wednesday, August 5 report. The stock of Targa Resources Corp (NYSE:TRGP) has “Neutral” rating given on Friday, February 26 by Credit Suisse. Citigroup reinitiated the stock with “Buy” rating in Monday, March 14 report. The stock has “Hold” rating given by Wunderlich on Wednesday, August 31. Goldman Sachs upgraded Targa Resources Corp (NYSE:TRGP) on Monday, September 19 to “Buy” rating. Wunderlich maintained Targa Resources Corp (NYSE:TRGP) rating on Friday, February 26. Wunderlich has “Hold” rating and $24 price target. Jefferies upgraded Targa Resources Corp (NYSE:TRGP) on Thursday, January 14 to “Buy” rating. The rating was upgraded by Jefferies to “Hold” on Friday, December 18.
Insitutional Activity: The institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.12, from 1.34 in 2016Q1. The ratio increased, as 43 funds sold all Targa Resources Corp shares owned while 87 reduced positions. 67 funds bought stakes while 107 increased positions. They now own 131.44 million shares or 48.28% less from 254.13 million shares in 2016Q1.
Winfield Inc, a Ohio-based fund reported 40 shares. Evercore Wealth Management Limited Liability Corporation accumulated 0% or 724 shares. Benedict Advisors holds 0.25% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 10,002 shares. Moreover, Williams Jones & Associate Lc has 0.02% invested in Targa Resources Corp (NYSE:TRGP) for 11,156 shares. Fdx, a California-based fund reported 6,977 shares. Moreover, Atlantic Trust Grp Ltd Limited Liability Company has 0.36% invested in Targa Resources Corp (NYSE:TRGP) for 1.19 million shares. Great West Life Assurance Can owns 17,960 shares or 0% of their US portfolio. Edge Asset Management holds 0.29% or 762,699 shares in its portfolio. Hodges Management owns 6,550 shares or 0.01% of their US portfolio. Sei Investments Com has 0.01% invested in the company for 36,430 shares. Cornerstone Cap Mngmt Lc last reported 0.05% of its portfolio in the stock. Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.59% of its portfolio in Targa Resources Corp (NYSE:TRGP). Alps Advsrs, a Colorado-based fund reported 74,343 shares. Bush Odonnell accumulated 0.33% or 11,727 shares. Van Eck Assocs Corp has invested 0% of its portfolio in Targa Resources Corp (NYSE:TRGP).
Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 20 insider sales for $10.84 million net activity. Perkins Joe Bob also sold $70,292 worth of Targa Resources Corp (NYSE:TRGP) shares. The insider McParland Jeffrey J sold 3,700 shares worth $166,995. Middlebrooks Dan C sold 2,000 shares worth $95,834. On Monday, November 7 CRISP CHARLES R sold $461,300 worth of the stock or 10,000 shares. On Tuesday, November 15 Heim Michael A sold $990,638 worth of the stock or 20,000 shares. $1.00 million worth of Targa Resources Corp (NYSE:TRGP) was sold by WHALEN JAMES W on Monday, June 13. Another trade for 9,300 shares valued at $438,538 was made by Chung Paul W on Monday, November 7.
The stock decreased 2.13% or $1.13 during the last trading session, hitting $51.83. About 2.51 million shares traded hands or 30.05% up from the average. Targa Resources Corp (NYSE:TRGP) has risen 40.14% since April 20, 2016 and is uptrending. It has outperformed by 35.59% the S&P500.
Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP , is a well-known provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The company has a market cap of $9.84 billion. 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. It currently has negative earnings. The Partnership operates in two divisions: Gathering and Processing, and Logistics and Marketing.
According to Zacks Investment Research, “Targa Resources Corp owns general and limited partner interests in Targa Resources Partners LP, engaged in providing midstream natural gas and natural gas liquid services in the United States. The Company operates its business through two business segments: Natural Gas Gathering and Processing and NGL Logistics and Marketing. The Natural Gas Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting natural gas liquids and removing impurities. NGL Logistics and Marketing segment is engaged in gathering and storing; fractionating, storing, and transporting of finished NGLs. Targa also markets the natural gas liquids produced and purchased in selected United States markets. The Company also offers refinery services and wholesale propane marketing operations. Targa Resources Corp is headquartered in Houston, Texas.”
More notable recent Targa Resources Corp (NYSE:TRGP) news were published by: Fool.com which released: “Targa Resources Corp Is Running Out of Room to Grow.. What’s Next?” on September 26, 2016, also Fool.com with their article: “Here’s Why Shares of Targa Resources Corp. Surged 25.8% in February” published on March 05, 2016, Moodys.com published: “Moody’s downgrades Targa Resources Partners to Ba2” on March 29, 2016. More interesting news about Targa Resources Corp (NYSE:TRGP) were released by: Forbes.com and their article: “Why Targa Resources Is a Top 10 Energy Dividend Stock (TRGP)” published on July 21, 2016 as well as Forbes.com‘s news article titled: “Targa Resources (TRGP) Passes Through 8% Yield Mark” with publication date: September 07, 2016.
Targa Resources Corp. (Targa) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. The Company’s indirect subsidiary is the sole general partner of Targa Resources Partners LP (the Partnership). The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling natural gas liquids (NGLs), NGL products, refined petroleum products and crude oil. The Firm operates in two divisions: Natural Gas Gathering and Processing. Natural Gas Gathering and Processing, consisting of two divisions: Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing, consisting of two divisions: Logistics Assets and Marketing and Distribution. During the year ended December 31, 2011, the Company projects included Cedar Bayou Fractionator expansion project, North Texas expansion program, SAOU expansion project, Cedar Bayou fractionation expansion, International propane export project, North Texas Longhorn project, Petroleum logistics terminal expansions, Benzene treating project, SAOU/Permian expansion programs, North Texas expansion program, HD-5 Refrigeration Export project and Gulf Coast Fractionators expansion project. On March 15, 2011, the Partnership acquired a refined petroleum products and crude oil storage and terminaling facility in Channelview, Texas on Carpenter’s Bayou along the Houston Ship Channel (the Channelview Terminal). On September 30, 2011 the Partnership acquired refined petroleum products and crude oil storage and terminaling facilities in two separate transactions.
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