Targa Resources (TRGP) Shares are Up 2.76%

Targa Resources (TRGP) has been under a strong bear grip, hence the stock is down -0.44% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.7% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.76% in the last 1 week, and is up 0.59% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.32% and the 50-Day Moving Average is 4.92%. Targa Resources (NYSE:TRGP): stock turned positive on Friday. Though the stock opened at $42.53, the bulls momentum made the stock top out at $42.99 level for the day. The stock recorded a low of $42.11 and closed the trading day at $42.44, in the green by 0.45%. The total traded volume for the day was 1,026,393. The stock had closed at $42.25 in the previous days trading.


The company Insiders own 3% of Targa Resources shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -11.02% . Institutional Investors own 83.52% of Targa Resources shares. During last six month period, the net percent change held by insiders has seen a change of -12.56%. Also, Major Brokerage house, Stifel Nicolaus upgrades its ratings on Targa Resources (NYSE:TRGP). According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on August 4, 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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