Achmea Investment Management B.V. Sells 128,118 Shares of Targa Resources, Inc. $TRGP

Achmea Investment Management B.V. lowered its position in Targa Resources, Inc. (NYSE:TRGP) by 92.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,487 shares of the pipeline company’s stock after selling 128,118 shares during the quarter. Achmea Investment Management B.V.’s holdings in Targa Resources were worth $1,757,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Peoples Financial Services CORP. acquired a new position in Targa Resources in the third quarter worth about $34,000. Root Financial Partners LLC bought a new stake in shares of Targa Resources in the 3rd quarter valued at approximately $39,000. Avion Wealth raised 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 buying an additional 228 shares in 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 bought a new position in shares of Targa Resources during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $233.91 on Thursday. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. The firm has a market cap of $50.28 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.58 and a beta of 0.84. The firm has a 50 day simple moving average of $214.15 and a 200 day simple moving average of $184.68. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $250.00.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. Sell-side analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, January 30th. Targa Resources’s payout ratio is 46.57%.

Analyst Ratings Changes

TRGP has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $241.00 target price on shares of Targa Resources in a report on Friday, February 20th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. The Goldman Sachs Group reissued a “buy” rating and set a $242.00 price target on shares of Targa Resources in a report on Friday, February 20th. Finally, Stifel Nicolaus boosted their price target on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.46.

Insiders Place Their Bets

In other Targa Resources news, President Jennifer R. Kneale sold 29,509 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $230.12, for a total value of $6,790,611.08. Following the transaction, the president owned 235,260 shares of the company’s stock, valued at approximately $54,138,031.20. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles R. Crisp sold 1,359 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total transaction of $311,618.70. Following the completion of the sale, the director directly owned 77,094 shares in the company, valued at $17,677,654.20. This represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,929 shares of company stock worth $24,692,134 in the last three months. 1.34% of the stock is owned by corporate insiders.

About Targa Resources

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.