Robeco Institutional Asset Management B.V. Boosts Position in Targa Resources Corp. (NYSE:TRGP)

Robeco Institutional Asset Management B.V. boosted its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 312,308 shares of the pipeline company's stock after acquiring an additional 24,358 shares during the period. Robeco Institutional Asset Management B.V. owned 0.14% of Targa Resources worth $55,747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Targa Resources by 4.4% in the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock worth $2,235,927,000 after purchasing an additional 633,589 shares during the last quarter. National Bank of Canada FI grew its holdings in Targa Resources by 75.4% during the 3rd quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock valued at $89,413,000 after buying an additional 259,776 shares in the last quarter. International Assets Investment Management LLC increased its stake in Targa Resources by 14,163.5% in the 3rd quarter. International Assets Investment Management LLC now owns 204,254 shares of the pipeline company's stock worth $30,232,000 after acquiring an additional 202,822 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Targa Resources by 1,904.8% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 199,958 shares of the pipeline company's stock worth $29,596,000 after acquiring an additional 189,984 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Targa Resources by 19.5% during the 3rd quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after acquiring an additional 168,602 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRGP has been the topic of several research reports. US Capital Advisors cut shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Truist Financial decreased their target price on shares of Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company boosted their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. 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, Stifel Nicolaus lifted their target price on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Targa Resources has an average rating of "Buy" and a consensus target price of $189.21.

Targa Resources Trading Up 0.7 %

TRGP traded up $1.49 on Thursday, reaching $204.35. 95,599 shares of the company traded hands, compared to its average volume of 1,452,750. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market cap of $44.56 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 0.63 and a beta of 2.30. The firm has a fifty day simple moving average of $193.44 and a two-hundred day simple moving average of $167.69. Targa Resources Corp. has a one year low of $84.33 and a one year high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities research analysts expect that Targa Resources Corp. will post 6.42 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.75 dividend. The ex-dividend date is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Targa Resources's dividend payout ratio is presently 54.25%.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by corporate insiders.

About Targa Resources

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.