Brookfield Reduces $56M in Targa Resources Corp. ($TRGP)
Key Points
- Brookfield changed its Targa Resources Corp. ($TRGP) stake by 12.3% last quarter, cutting to 1,462,383 shares worth $398.65 million.
- Wall Street's consensus rating on $TRGP is Buy and an average price target of $283.90.
- $TRGP last traded around $272.60.
Brookfield reduced its position in Targa Resources Corp. ($TRGP) by 12.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,462,383 shares of Targa Resources Corp. after selling 204,723 shares during the quarter. Brookfield's holdings in Targa Resources Corp. were worth $398.65 million as of its most recent filing.
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About Targa Resources Corp.
Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. The company also leased and owned railcars, tractors, vacuum trucks and pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
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