Robeco Institutional Asset Management B.V. Decreases Position in Targa Resources, Inc. $TRGP

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 62.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,931 shares of the pipeline company’s stock after selling 9,824 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Targa Resources were worth $994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRGP. Daymark Wealth Partners LLC acquired a new position in shares of Targa Resources during the third quarter valued at about $230,000. Commonwealth Equity Services LLC grew its position in Targa Resources by 137.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock worth $11,164,000 after purchasing an additional 38,626 shares during the last quarter. West Paces Advisors Inc. purchased a new position in shares of Targa Resources in the third quarter worth $254,000. Gateway Investment Advisers LLC lifted its stake in shares of Targa Resources by 4.1% during the third quarter. Gateway Investment Advisers LLC now owns 127,074 shares of the pipeline company’s stock worth $21,290,000 after buying an additional 5,019 shares during the period. Finally, Western Financial Corp CA grew its holdings in shares of Targa Resources by 4.5% during the third quarter. Western Financial Corp CA now owns 6,434 shares of the pipeline company’s stock valued at $1,078,000 after buying an additional 276 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 20,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the transaction, the insider directly owned 22,139 shares of the company’s stock, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRGP. Wall Street Zen lowered Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group restated a “buy” rating on shares of Targa Resources in a research note on Friday. BMO Capital Markets upped their target price on Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Stifel Nicolaus set a $213.00 price target on shares of Targa Resources in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.79.

Targa Resources Price Performance

Shares of TRGP stock opened at $176.83 on Monday. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a market capitalization of $37.96 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87. The firm’s 50-day moving average is $176.22 and its two-hundred day moving average is $168.46. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). Targa Resources had a return on equity of 51.87% and a net margin of 9.35%.The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, October 31st were given a dividend of $1.00 per share. The ex-dividend date was Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.3%. Targa Resources’s dividend payout ratio (DPR) is 53.19%.

Targa Resources Profile

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.