Targa Resources Corp. (NYSE:TRGP) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in shares of Targa Resources Corp. (NYSE:TRGP) by 599.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 287,950 shares of the pipeline company’s stock after purchasing an additional 246,762 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.13% of Targa Resources worth $42,619,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TRGP. Strategic Investment Solutions Inc. IL acquired a new position in shares of Targa Resources during the second quarter worth about $29,000. DT Investment Partners LLC acquired a new position in Targa Resources during the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 222 shares during the period. Whittier Trust Co. acquired a new stake in Targa Resources in the second quarter valued at approximately $44,000. Finally, Rogco LP purchased a new stake in shares of Targa Resources during the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling

In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $136.06, for a total value of $408,180.00. Following the sale, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Targa Resources news, insider Gerald R. Shrader sold 3,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $136.06, for a total transaction of $408,180.00. Following the completion of the transaction, the insider now directly owns 29,603 shares of the company’s stock, valued at $4,027,784.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the sale, the director now owns 110,470 shares in the company, valued at $17,181,399.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,405 shares of company stock valued at $26,529,984. Insiders own 1.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial raised their target price on Targa Resources from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada increased their price target on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Argus raised Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $154.57.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $177.40 on Wednesday. The company has a market cap of $38.86 billion, a PE ratio of 37.35, a P/E/G ratio of 1.28 and a beta of 2.24. Targa Resources Corp. has a fifty-two week low of $81.03 and a fifty-two week high of $178.59. The firm has a 50-day simple moving average of $156.35 and a 200 day simple moving average of $136.85. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, October 31st. Targa Resources’s payout ratio is 63.16%.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream 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.