Targa Resources (TRGP) is Downgraded by Raymond James to Mkt Perform

Targa Resources (TRGP) is Downgraded by Raymond James to Mkt Perform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Targa Resources Corp. has dropped 47.15% during the last 3-month period . Year-to-Date the stock performance stands at -73.36%.

Targa Resources, Inc. (NYSE:TRGP) has lost 0.59% during the past week and dropped 10.49% in the last 4 weeks. The shares have outperformed the S&P 500 by 0.24% in the past week but underperformed the index by 8.4% in the last 4 weeks.

Targa Resources, Inc. (NYSE:TRGP) : On Thursday heightened volatility was witnessed in Targa Resources, Inc. (NYSE:TRGP) which led to swings in the share price. The shares opened for trading at $25.7 and hit $27.61 on the upside , eventually ending the session at $27.06, with a gain of 3.88% or 1.01 points. The heightened volatility saw the trading volume jump to 2,328,996 shares. The 52-week high of the share price is $108.63 and the company has a market cap of $1,516 million. The 52-week low of the share price is at $23.33 .

Currently the company Insiders own 7% of Targa Resources, Inc. shares according to the proxy statements. Institutional Investors own 89.14% of Targa Resources, Inc. shares. During last six month period, the net percent change held by insiders has seen a change of -14.48%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Targa Resources Corp., Joyce Rene R had sold 10,000 shares worth of $783,100 in a transaction dated August 12, 2015. In this transaction, 10,000 shares were sold at $78.31 per share.

Targa Resources Corp. (Targa) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Its indirect subsidiary is the sole general partner of Targa Resources Partners LP (the Partnership). The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling natural gas liquids (NGLs), NGL products, refined petroleum products and crude oil. The Company operates in two divisions: Natural Gas Gathering and Processing. Natural Gas Gathering and Processing, consisting of two segments: Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing, consisting of two segments: Logistics Assets and Marketing and Distribution. On September 30, 2011 the Partnership acquired refined petroleum products and crude oil storage and terminaling facilities in two separate transactions.