Center Coast Capital Advisors Lp Lowers stake in Targa Resources Corp (TRGP)

Targa Resources Corp (TRGP) : Center Coast Capital Advisors Lp reduced its stake in Targa Resources Corp by 18.37% during the most recent quarter end. The investment management company now holds a total of 5,207,449 shares of Targa Resources Corp which is valued at $210,016,418 after selling 1,171,550 shares in Targa Resources Corp , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.Targa Resources Corp makes up approximately 5.83% of Center Coast Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Nordea Investment Management Ab boosted its stake in TRGP in the latest quarter, The investment management firm added 8,296 additional shares and now holds a total of 15,348 shares of Targa Resources Corp which is valued at $640,012. Gradient Investments added TRGP to its portfolio by purchasing 218 company shares during the most recent quarter which is valued at $9,411.

Targa Resources Corp opened for trading at $35.84 and hit $37.37 on the upside on Friday, eventually ending the session at $37.26, with a gain of 2.73% or 0.99 points. The heightened volatility saw the trading volume jump to 20,33,086 shares. Company has a market cap of $5,984 M.

Many Wall Street Analysts have commented on Targa Resources Corp. Targa Resources Corp was Downgraded by Jefferies to ” Hold” on Jun 8, 2016. Targa Resources Corp was Initiated by Stifel to “Hold” on May 31, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 43 from a previous price target of $33 .

Targa Resources Corp. (Traga) 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. The Company operates in two divisions Gathering and Processing and Logistics and Marketing. Gathering and Processing includes Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing includes Logistics Assets and Marketing and Distribution.

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