Robeco Institutional Asset Management B.V. Sells 3,645 Shares of Targa Resources, Inc. $TRGP

Robeco Institutional Asset Management B.V. trimmed its position in Targa Resources, Inc. (NYSE:TRGP) by 61.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,286 shares of the pipeline company’s stock after selling 3,645 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Targa Resources were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new stake in Targa Resources during the 4th quarter valued at $27,000. Peoples Financial Services CORP. purchased a new position in shares of Targa Resources in the third quarter valued at about $34,000. Root Financial Partners LLC purchased a new position in shares of Targa Resources in the third quarter valued at about $39,000. Avion Wealth raised its stake in shares of Targa Resources by 475.0% during the third quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 228 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of Targa Resources during the third quarter valued at about $47,000. 92.13% of the stock is currently owned by institutional investors.

Insider Transactions at Targa Resources

In related news, insider Patrick J. Mcdonie sold 31,537 shares of Targa Resources stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the sale, the insider directly owned 305,163 shares in the company, valued at $73,043,815.68. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 17,500 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the completion of the sale, the insider directly owned 31,938 shares in the company, valued at approximately $7,311,246.96. The trade was a 35.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 104,929 shares of company stock worth $24,692,134. 1.37% of the stock is owned by insiders.

Targa Resources Trading Down 1.7%

Shares of TRGP opened at $235.63 on Friday. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $253.87. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. The firm’s 50-day moving average price is $237.10 and its 200-day moving average price is $196.39. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.55 and a beta of 0.81.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a dividend of $1.25 per share. This is a positive change from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date is Thursday, April 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.1%. Targa Resources’s dividend payout ratio (DPR) is currently 46.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TRGP. Scotiabank raised their target price on Targa Resources from $246.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays upped their price target on Targa Resources from $226.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Mizuho increased their price objective on Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. TD Cowen lifted their price objective on Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a research report on Monday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $241.00 target price on shares of Targa Resources in a research note on Friday, February 20th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $258.07.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.