Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Robeco Institutional Asset Management B.V. reduced its position in Targa Resources Corp. (NYSE:TRGPGet Rating) by 23.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 45,809 shares of the pipeline company’s stock after selling 14,329 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Targa Resources were worth $2,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Targa Resources by 424.5% in the 1st quarter. Wellington Management Group LLP now owns 3,777,797 shares of the pipeline company’s stock valued at $285,110,000 after purchasing an additional 3,057,486 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Targa Resources by 1,359.9% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,942,918 shares of the pipeline company’s stock valued at $115,934,000 after purchasing an additional 1,809,831 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Targa Resources by 485.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,923,186 shares of the pipeline company’s stock valued at $114,757,000 after purchasing an additional 1,594,686 shares during the last quarter. State Street Corp boosted its holdings in shares of Targa Resources by 13.0% in the 2nd quarter. State Street Corp now owns 8,851,859 shares of the pipeline company’s stock valued at $528,190,000 after purchasing an additional 1,014,902 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Targa Resources by 126.3% in the 1st quarter. Bank of America Corp DE now owns 1,518,911 shares of the pipeline company’s stock valued at $114,633,000 after purchasing an additional 847,667 shares during the last quarter. 88.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of Targa Resources from $85.00 to $90.00 and gave the company a “buy” rating in a report on Monday, November 28th. Citigroup began coverage on shares of Targa Resources in a report on Thursday, December 8th. They issued a “buy” rating and a $95.00 price target on the stock. TheStreet lowered shares of Targa Resources from a “b-” rating to a “c” rating in a report on Monday, December 5th. Morgan Stanley lifted their target price on shares of Targa Resources from $105.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Finally, Mizuho lifted their target price on shares of Targa Resources from $91.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $90.00.

Insiders Place Their Bets

In other news, CAO Julie H. Boushka sold 2,086 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $70.87, for a total value of $147,834.82. Following the completion of the sale, the chief accounting officer now owns 57,839 shares of the company’s stock, valued at approximately $4,099,049.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert Muraro sold 5,000 shares of the business’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $74.95, for a total value of $374,750.00. Following the completion of the sale, the insider now owns 176,947 shares of the company’s stock, valued at approximately $13,262,177.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 2,086 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $70.87, for a total transaction of $147,834.82. Following the completion of the sale, the chief accounting officer now directly owns 57,839 shares of the company’s stock, valued at approximately $4,099,049.93. The disclosure for this sale can be found here. Insiders have sold 69,512 shares of company stock worth $4,758,381 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Targa Resources Stock Performance

Shares of TRGP stock opened at $74.65 on Thursday. Targa Resources Corp. has a 12 month low of $52.60 and a 12 month high of $81.50. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.74 and a quick ratio of 0.60. The firm has a market capitalization of $16.90 billion, a P/E ratio of 70.43 and a beta of 2.30. The company’s fifty day moving average price is $72.04 and its two-hundred day moving average price is $67.86.

Targa Resources (NYSE:TRGPGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The pipeline company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.39). Targa Resources had a return on equity of 21.02% and a net margin of 2.34%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $6.96 billion. On average, research analysts anticipate that Targa Resources Corp. will post 4.53 earnings per share for the current fiscal year.

About Targa Resources

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Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages 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.

See Also

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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