Large Inflow of Money Detected in Targa Resources

Targa Resources (TRGP) : Targa Resources (TRGP) had a healthy money flow of $8.47 million into the stock during the Tuesdays trading session. The value of bullish trades on upticks was $17.45 million, whereas, investors only sold shares worth $8.98 million on downticks. The stock closed the day with an up-down ratio of 1.94.The money flow in the block trades to the tune of $8.17 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $8.17 million worth of transactions were on upticks. Targa Resources (TRGP) stock slid $0.4 intraday and traded at 43.65, a change of -0.91% over previous days close. However, for the week, the company shares are 0.25% compared to previous weeks close.


Also, Equity Analysts at the Brokerage Firm, Stifel Nicolaus, maintains their rating on the shares of Targa Resources (NYSE:TRGP). Stifel Nicolaus has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $48 per share from a prior target of $43. The rating by the firm was issued on August 22, 2016.

Shares of Targa Resources Corp. rose by 0.67% in the last five trading days and 18.36% for the last 4 weeks. Targa Resources Corp. is up 2.72% in the last 3-month period. Year-to-Date the stock performance stands at 76.11%.

Targa Resources (NYSE:TRGP): The stock opened at $44.15 on Tuesday but the bulls could not build on the opening and the stock topped out at $44.66 for the day. The stock traded down to $43.38 during the day, due to lack of any buying support eventually closed down at $43.65 with a loss of -0.91% for the day. The stock had closed at $44.05 on the previous day. The total traded volume was 1,194,829 shares.

In a related news, The Securities and Exchange Commission has divulged that Pryor D. Scott, officer (See Remarks) of Targa Resources Corp., had unloaded 7,500 shares at an average price of $37.66 in a transaction dated on July 27, 2016. The total value of the transaction was worth $282,450.

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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