1,000,000 Shares in Targa Resources Corp (NYSE:TRGP) Acquired by Nomura Holdings Inc.

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Nomura Holdings Inc. acquired a new position in Targa Resources Corp (NYSE:TRGP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,000,000 shares of the pipeline company’s stock, valued at approximately $39,894,000. Nomura Holdings Inc. owned about 0.43% of Targa Resources at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its position in Targa Resources by 3,746.3% during the second quarter. Invesco Ltd. now owns 9,579,054 shares of the pipeline company’s stock valued at $376,074,000 after acquiring an additional 9,330,008 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Targa Resources by 35.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 13,153,678 shares of the pipeline company’s stock valued at $546,535,000 after acquiring an additional 3,454,138 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Targa Resources by 54.4% during the first quarter. CIBC Private Wealth Group LLC now owns 3,797,110 shares of the pipeline company’s stock valued at $157,770,000 after acquiring an additional 1,338,009 shares during the last quarter. Chickasaw Capital Management LLC grew its position in Targa Resources by 20.7% during the second quarter. Chickasaw Capital Management LLC now owns 6,129,598 shares of the pipeline company’s stock valued at $240,648,000 after acquiring an additional 1,049,863 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Targa Resources by 20.4% during the first quarter. Neuberger Berman Group LLC now owns 5,018,606 shares of the pipeline company’s stock valued at $208,523,000 after acquiring an additional 849,272 shares during the last quarter. Institutional investors own 95.82% of the company’s stock.

TRGP has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of Targa Resources to $51.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Mizuho set a $45.00 price target on shares of Targa Resources and gave the company a “hold” rating in a research report on Friday, July 12th. SunTrust Banks set a $45.00 price target on shares of Targa Resources and gave the company a “buy” rating in a research report on Friday, August 9th. Evercore ISI reiterated a “hold” rating on shares of Targa Resources in a research report on Sunday, August 11th. Finally, Zacks Investment Research upgraded shares of Targa Resources from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Targa Resources presently has an average rating of “Buy” and a consensus price target of $50.50.

Shares of NYSE:TRGP traded up $0.57 during trading on Friday, reaching $41.44. 64,106 shares of the company traded hands, compared to its average volume of 2,680,606. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 206.60 and a beta of 1.75. Targa Resources Corp has a 52-week low of $32.00 and a 52-week high of $59.21. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average is $36.47 and its 200-day moving average is $39.12.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 8th. The pipeline company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.15. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.36 billion. Targa Resources had a negative return on equity of 0.17% and a negative net margin of 1.81%. On average, sell-side analysts predict that Targa Resources Corp will post -0.85 earnings per share for the current fiscal year.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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

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