Targa Resources, Inc. $TRGP Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 524.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,803 shares of the pipeline company’s stock after purchasing an additional 88,850 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Targa Resources were worth $28,600,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in Targa Resources by 238.0% during the second quarter. Tidal Investments LLC now owns 41,741 shares of the pipeline company’s stock worth $11,192,000 after purchasing an additional 29,390 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Targa Resources in the 2nd quarter valued at $100,442,000. Nykredit A S acquired a new stake in shares of Targa Resources in the 2nd quarter valued at $33,314,000. Envestnet Asset Management Inc. boosted its holdings in shares of Targa Resources by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 756,768 shares of the pipeline company’s stock valued at $202,920,000 after purchasing an additional 41,241 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Targa Resources by 59.1% in the 1st quarter. Royal Bank of Canada now owns 611,375 shares of the pipeline company’s stock valued at $153,291,000 after purchasing an additional 227,075 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRGP. Mizuho boosted their price target on Targa Resources from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, September 11th. Citigroup raised their price objective on Targa Resources from $303.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $340.00 price objective on shares of Targa Resources in a research note on Tuesday. Barclays lifted their target price on Targa Resources from $284.00 to $294.00 and gave the company an “overweight” rating in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada boosted their target price on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $319.25.

Insiders Place Their Bets

In other news, Director Paul W. Chung sold 1,816 shares of Targa Resources stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the sale, the director directly owned 44,000 shares of the company’s stock, valued at approximately $13,028,840. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the sale, the director owned 62,292 shares in the company, valued at approximately $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,216 shares of company stock valued at $2,127,634 in the last 90 days. Corporate insiders own 1.37% of the company’s stock.

Targa Resources Stock Performance

NYSE TRGP opened at $302.31 on Friday. The firm’s fifty day moving average price is $288.85 and its two-hundred day moving average price is $271.67. The stock has a market cap of $64.82 billion, a PE ratio of 27.68, a PEG ratio of 1.20 and a beta of 0.80. Targa Resources, Inc. has a fifty-two week low of $150.00 and a fifty-two week high of $307.94. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. On average, equities analysts expect that Targa Resources, Inc. will post 11.42 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, October 30th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s payout ratio is currently 47.80%.

Targa Resources Company 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.