Canada Pension Plan Investment Board reduced its position in Targa Resources, Inc. (NYSE:TRGP) by 41.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,282 shares of the pipeline company’s stock after selling 133,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of Targa Resources worth $8,764,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TRGP. Shine Investment Advisory Services Inc. bought a new stake in shares of Targa Resources during the 2nd quarter valued at approximately $105,000. Bollard Group LLC grew its holdings in shares of Targa Resources by 1.1% during the 2nd quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after purchasing an additional 27 shares during the last quarter. Ffcm LLC grew its holdings in shares of Targa Resources by 237.0% during the 2nd quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock valued at $122,000 after purchasing an additional 1,910 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Targa Resources by 24.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after purchasing an additional 524 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Targa Resources by 20.6% during the 2nd quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock valued at $192,000 after purchasing an additional 726 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors.

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Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a report on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and set a $53.00 price target on shares of Targa Resources in a report on Friday, November 3rd. BidaskClub upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Citigroup Inc. upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources has a consensus rating of “Hold” and a consensus target price of $54.44.

Targa Resources, Inc. (NYSE:TRGP) opened at $44.13 on Friday. Targa Resources, Inc. has a 1 year low of $39.59 and a 1 year high of $61.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.51 and a current ratio of 0.74.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.25%. Targa Resources’s dividend payout ratio (DPR) is currently -136.84%.

About Targa Resources

Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.

Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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