Cushing Asset Management Lp buys $148,151,355 stake in Targa Resources Corp (TRGP)

Targa Resources Corp (TRGP) : Cushing Asset Management Lp scooped up 570,972 additional shares in Targa Resources Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,044,623 shares of Targa Resources Corp which is valued at $148,151,355.Targa Resources Corp makes up approximately 4.92% of Cushing Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag boosted its stake in TRGP in the latest quarter, The investment management firm added 16,186 additional shares and now holds a total of 80,000 shares of Targa Resources Corp which is valued at $3,892,800. Targa Resources Corp makes up approx 0.01% of Allianz Asset Management Ag’s portfolio.Comerica Bank boosted its stake in TRGP in the latest quarter, The investment management firm added 4,164 additional shares and now holds a total of 16,362 shares of Targa Resources Corp which is valued at $786,030. Targa Resources Corp makes up approx 0.01% of Comerica Bank’s portfolio.Mcf Advisors boosted its stake in TRGP in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 462 shares of Targa Resources Corp which is valued at $22,194. Targa Resources Corp makes up approx 0.01% of Mcf Advisors’s portfolio. Stevens Capital Management Lp sold out all of its stake in TRGP during the most recent quarter. The investment firm sold 113,756 shares of TRGP which is valued $5,205,475.

Targa Resources Corp opened for trading at $50 and hit $50.85 on the upside on Monday, eventually ending the session at $50.44, with a gain of 0.94% or 0.47 points. The heightened volatility saw the trading volume jump to 12,35,304 shares. Company has a market cap of $9,121 M.

Many Wall Street Analysts have commented on Targa Resources Corp. Company shares were Reiterated by RBC Capital Mkts on Nov 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 52 from a previous price target of $46 .Company shares were Upgraded by Stifel on Nov 3, 2016 to ” Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .Targa Resources Corp was Downgraded by Stifel to ” Hold” on Sep 29, 2016.

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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