Targa Resources, Inc. $TRGP Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 9.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,153 shares of the pipeline company’s stock after buying an additional 3,346 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Targa Resources were worth $10,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC boosted its position in Targa Resources by 381.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 80 shares during the period. Jones Financial Companies Lllp purchased a new position in Targa Resources during the 2nd quarter valued at about $32,000. Compass Financial Management LLC acquired a new position in shares of Targa Resources in the 2nd quarter valued at about $33,000. CoreCap Advisors LLC increased its holdings in shares of Targa Resources by 245.9% in the 2nd quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 91 shares during the period. Finally, Virtus Advisers LLC acquired a new position in shares of Targa Resources in the 2nd quarter valued at about $35,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Charles Crisp sold 3,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the transaction, the director owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Chung sold 1,816 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the transaction, the director owned 44,000 shares in the company, valued at approximately $13,028,840. This trade represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,216 shares of company stock valued at $2,127,634 over the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Key Headlines Impacting Targa Resources

Here are the key news stories impacting Targa Resources this week:

• Positive Sentiment: Third-quarter adjusted earnings were $3.04 per share, above analyst estimates, while revenue of $5.60 billion also topped expectations. Earnings increased from $2.20 per share a year earlier. Targa Resources Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Targa expects to increase its 2027 common dividend by 20%, a positive signal about its outlook and cash-return plans. It also declared a $1.25 dividend. Targa Resources Third Quarter Results and 2027 Dividend Outlook
• Positive Sentiment: The company ordered equipment for a plant expansion and announced Train 14, a new NGL fractionator, adding growth projects that could support future capacity. Targa Announces Plant Expansion and Train 14 NGL Fractionator
• Negative Sentiment: Despite the earnings beat and dividend news, TRGP shares moved lower. The cited coverage does not point to a specific operational setback or earnings shortfall, leaving the reason for the decline unclear. Targa Resources Price Movement on Q3 Filing Day

Targa Resources Trading Down 4.7%

Shares of NYSE TRGP opened at $271.70 on Friday. The stock has a market cap of $58.26 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.17 and a beta of 0.76. The business has a 50 day simple moving average of $289.81 and a 200 day simple moving average of $260.95. Targa Resources, Inc. has a 52 week low of $163.78 and a 52 week high of $316.60. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, November 5th. The pipeline company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.30. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $4.77 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. On average, research analysts predict that Targa Resources, Inc. will post 11.48 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, October 30th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 30th. Targa Resources’s payout ratio is currently 47.80%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRGP. Mizuho upped their price objective on shares of Targa Resources from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Wolfe Research set a $335.00 target price on shares of Targa Resources in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price target on shares of Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. The Goldman Sachs Group restated a “buy” rating and set a $322.00 price target on shares of Targa Resources in a report on Tuesday, October 13th. Finally, TD Cowen upgraded Targa Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from $275.00 to $350.00 in a report on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the stock. Based on data from MarketBeat.com, Targa Resources has an average rating of “Buy” and a consensus target price of $325.68.

Targa Resources Profile

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company’s services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.