3,346 Targa Resources, Inc. $TRGP Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its stake in Targa Resources, Inc. (NYSE:TRGP) by 9.6% in the 3rd quarter, Holdings Channel reports. The firm owned 38,153 shares of the pipeline company’s stock after purchasing an additional 3,346 shares during the period. Rakuten Investment Management Inc.’s holdings in Targa Resources were worth $10,434,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Targa Resources by 1.4% during the second quarter. BlackRock Inc. now owns 20,832,687 shares of the pipeline company’s stock valued at $5,586,077,000 after purchasing an additional 291,114 shares during the last quarter. State Street Corp lifted its stake in shares of Targa Resources by 4.6% in the second quarter. State Street Corp now owns 14,226,166 shares of the pipeline company’s stock worth $3,814,604,000 after buying an additional 626,885 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Targa Resources by 21.7% in the second quarter. Deutsche Bank AG now owns 3,025,248 shares of the pipeline company’s stock worth $811,190,000 after buying an additional 539,582 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Targa Resources by 28.0% in the first quarter. Bank of America Corp DE now owns 3,151,993 shares of the pipeline company’s stock worth $790,299,000 after buying an additional 688,598 shares during the last quarter. Finally, Amundi lifted its stake in shares of Targa Resources by 10.8% in the second quarter. Amundi now owns 2,222,046 shares of the pipeline company’s stock worth $595,817,000 after buying an additional 215,915 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Targa Resources News Roundup

Here are the key news stories impacting Targa Resources this week:

• Positive Sentiment: Third-quarter adjusted earnings were $3.04 per share, above analyst estimates, while revenue of $5.60 billion also topped expectations. Earnings increased from $2.20 per share a year earlier. Targa Resources Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Targa expects to increase its 2027 common dividend by 20%, a positive signal about its outlook and cash-return plans. It also declared a $1.25 dividend. Targa Resources Third Quarter Results and 2027 Dividend Outlook
• Positive Sentiment: The company ordered equipment for a plant expansion and announced Train 14, a new NGL fractionator, adding growth projects that could support future capacity. Targa Announces Plant Expansion and Train 14 NGL Fractionator
• Negative Sentiment: Despite the earnings beat and dividend news, TRGP shares moved lower. The cited coverage does not point to a specific operational setback or earnings shortfall, leaving the reason for the decline unclear. Targa Resources Price Movement on Q3 Filing Day

Insider Buying and Selling

In related news, Director Paul W. Chung sold 1,816 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $296.11, for a total transaction of $537,735.76. Following the completion of the transaction, the director directly owned 44,000 shares in the company, valued at $13,028,840. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles R. Crisp sold 3,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the sale, the director directly owned 62,292 shares of the company’s stock, valued at approximately $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 7,216 shares of company stock valued at $2,127,634. 1.37% of the stock is owned by company insiders.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $271.70 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The business’s 50 day moving average is $289.81 and its two-hundred day moving average is $260.95. The company has a market cap of $58.26 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.17 and a beta of 0.76. Targa Resources, Inc. has a 12 month low of $163.78 and a 12 month high of $316.60.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, November 5th. The pipeline company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.30. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $4.77 billion. On average, equities analysts expect that Targa Resources, Inc. will post 11.48 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, October 30th will be paid a $1.25 dividend. The ex-dividend date is Friday, October 30th. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio (DPR) is presently 47.80%.

Analyst Ratings Changes

Several research firms recently issued reports on TRGP. Capital One Financial upped their price objective on shares of Targa Resources from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, September 22nd. Wolfe Research set a $335.00 target price on shares of Targa Resources in a report on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Targa Resources from $282.00 to $324.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. The Goldman Sachs Group restated a “buy” rating and set a $322.00 price target on shares of Targa Resources in a report on Tuesday, October 13th. Finally, Stifel Nicolaus set a $335.00 price target on shares of Targa Resources in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. According to MarketBeat, Targa Resources presently has an average rating of “Buy” and an average price target of $325.68.

Targa Resources Profile

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company’s services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.