California Public Employees Retirement System Boosts Holdings in Targa Resources Corp (NYSE:TRGP)

California Public Employees Retirement System lifted its position in Targa Resources Corp (NYSE:TRGP) by 64.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,055 shares of the pipeline company’s stock after purchasing an additional 165,500 shares during the period. California Public Employees Retirement System owned about 0.20% of Targa Resources worth $20,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Targa Resources by 24.0% during the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after acquiring an additional 524 shares during the last quarter. Ffcm LLC boosted its position in shares of Targa Resources by 237.0% during the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after acquiring an additional 1,910 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Targa Resources by 20.6% during the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 726 shares during the last quarter. Guyasuta Investment Advisors Inc. bought a new position in shares of Targa Resources during the third quarter worth $206,000. Finally, Pacer Advisors Inc. boosted its position in shares of Targa Resources by 28.5% during the second quarter. Pacer Advisors Inc. now owns 4,587 shares of the pipeline company’s stock worth $207,000 after acquiring an additional 1,017 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on TRGP. Bank of America began coverage on shares of Targa Resources in a research report on Tuesday. They set a “neutral” rating for the company. BidaskClub lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Stifel Nicolaus lowered their price objective on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, November 20th. Finally, Goldman Sachs Group lowered shares of Targa Resources from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $53.89.

In other news, VP John Richard Klein sold 2,292 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.93% of the stock is currently owned by company insiders.

Targa Resources Corp (TRGP) traded up $0.62 during trading on Friday, hitting $51.44. 1,880,515 shares of the stock traded hands, compared to its average volume of 1,990,000. The company has a market cap of $11,090.00, a price-to-earnings ratio of -20.25 and a beta of 2.22. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources Corp has a 12-month low of $39.59 and a 12-month high of $61.83.

ILLEGAL ACTIVITY WARNING: “California Public Employees Retirement System Boosts Holdings in Targa Resources Corp (NYSE:TRGP)” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/13/california-public-employees-retirement-system-acquires-165500-shares-of-targa-resources-corp-trgp.html.

About Targa Resources

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.

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

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply