Targa Resources, Inc. $TRGP Shares Sold by ING Groep NV

ING Groep NV cut its holdings in Targa Resources, Inc. (NYSE:TRGP) by 32.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,019 shares of the pipeline company’s stock after selling 21,225 shares during the quarter. ING Groep NV’s holdings in Targa Resources were worth $7,542,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TRGP. Woodline Partners LP grew its stake in Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after acquiring an additional 5,327 shares during the period. Focus Partners Wealth lifted its holdings in Targa Resources by 157.4% during the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after purchasing an additional 2,404 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Targa Resources by 26.3% during the second quarter. Sequoia Financial Advisors LLC now owns 5,926 shares of the pipeline company’s stock valued at $1,032,000 after purchasing an additional 1,235 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Targa Resources by 97.1% in the second quarter. NorthRock Partners LLC now owns 2,172 shares of the pipeline company’s stock valued at $378,000 after purchasing an additional 1,070 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in shares of Targa Resources by 12.3% during the second quarter. Axxcess Wealth Management LLC now owns 2,160 shares of the pipeline company’s stock worth $376,000 after purchasing an additional 236 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TRGP. Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Wall Street Zen cut Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company lifted their price target on Targa Resources from $205.00 to $207.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Scotiabank reiterated an “outperform” rating and set a $224.00 price target on shares of Targa Resources in a research report on Friday, January 16th. Finally, Stifel Nicolaus set a $213.00 price objective on Targa Resources in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and a consensus price target of $213.50.

Insider Activity

In other news, insider Gerald R. Shrader sold 2,750 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the transaction, the insider owned 29,561 shares of the company’s stock, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.34% of the stock is owned by company insiders.

Targa Resources Trading Down 1.6%

Shares of Targa Resources stock opened at $218.42 on Friday. 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 stock’s 50 day simple moving average is $189.29 and its 200-day simple moving average is $173.02. The stock has a market cap of $46.89 billion, a P/E ratio of 29.04, a P/E/G ratio of 0.95 and a beta of 0.88. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $224.98.

Targa Resources Dividend Announcement

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

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.