Targa Resources, Inc. $TRGP Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,428 shares of the pipeline company’s stock after selling 9,114 shares during the quarter. Candriam S.C.A.’s holdings in Targa Resources were worth $3,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peoples Financial Services CORP. acquired a new position in Targa Resources in the third quarter valued at about $34,000. Root Financial Partners LLC purchased a new stake in shares of Targa Resources in the 3rd quarter valued at approximately $39,000. Avion Wealth lifted its holdings in shares of Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after acquiring an additional 228 shares during the last quarter. First Horizon Corp acquired a new position in shares of Targa Resources in the 3rd quarter worth approximately $47,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Targa Resources during the 2nd quarter worth approximately $53,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRGP. Royal Bank Of Canada boosted their target price on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company lifted their price objective on Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Stifel Nicolaus set a $213.00 target price on Targa Resources in a research note on Thursday, November 6th. Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and a consensus target price of $213.50.

Insider Buying and Selling

In related 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 transaction of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. The trade was a 47.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider directly owned 29,561 shares in the company, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.34% of the company’s stock.

Targa Resources Price Performance

TRGP stock opened at $222.18 on Thursday. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $222.59. The firm has a market capitalization of $47.69 billion, a P/E ratio of 29.54, a P/E/G ratio of 0.93 and a beta of 0.88. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. The business’s 50-day moving average is $188.52 and its two-hundred day moving average is $172.70.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, January 30th. Targa Resources’s payout ratio is 53.19%.

Targa Resources Company 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.