Voya Investment Management LLC Has $36.70 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Voya Investment Management LLC lessened its stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,626 shares of the pipeline company's stock after selling 11,695 shares during the quarter. Voya Investment Management LLC owned 0.09% of Targa Resources worth $36,704,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $505,132,000. GQG Partners LLC bought a new position in Targa Resources in the 4th quarter valued at $393,335,000. Canada Pension Plan Investment Board boosted its stake in Targa Resources by 981.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after purchasing an additional 1,038,350 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Targa Resources during the fourth quarter worth $150,372,000. Finally, TD Asset Management Inc. increased its stake in shares of Targa Resources by 568.7% in the fourth quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company's stock valued at $173,212,000 after buying an additional 825,267 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TRGP shares. Royal Bank of Canada upped their price target on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Citigroup upped their target price on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Truist Financial raised their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. US Capital Advisors raised Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Wells Fargo & Company lifted their target price on Targa Resources from $204.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $210.07.

Targa Resources Trading Up 1.0 %

Shares of TRGP stock traded up $1.76 on Monday, reaching $179.38. The company had a trading volume of 1,363,174 shares, compared to its average volume of 1,731,384. The company has a 50-day moving average of $184.97 and a 200-day moving average of $188.34. Targa Resources Corp. has a 12 month low of $110.09 and a 12 month high of $218.51. The stock has a market cap of $39.03 billion, a PE ratio of 31.25, a PEG ratio of 0.61 and a beta of 1.75. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.48 billion. On average, equities analysts forecast that Targa Resources Corp. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio is presently 69.69%.

Insider Buying and Selling at Targa Resources

In other news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now owns 227,269 shares in the company, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, the insider now owns 82,139 shares in the company, valued at approximately $16,206,024.70. The trade was a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,914 shares of company stock valued at $22,613,288. Company insiders own 1.34% of the company's stock.

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.