88,850 Targa Resources, Inc. $TRGP Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 524.1% during the third quarter, Holdings Channel.com reports. The firm owned 105,803 shares of the pipeline company’s stock after acquiring an additional 88,850 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Targa Resources were worth $28,600,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Targa Resources by 1.4% in 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 period. State Street Corp raised its position in Targa Resources by 4.6% during the 2nd quarter. State Street Corp now owns 14,226,166 shares of the pipeline company’s stock worth $3,814,604,000 after purchasing an additional 626,885 shares during the last quarter. Deutsche Bank AG raised its position in Targa Resources by 21.7% during the 2nd quarter. Deutsche Bank AG now owns 3,025,248 shares of the pipeline company’s stock worth $811,190,000 after purchasing an additional 539,582 shares during the last quarter. Bank of America Corp DE lifted its holdings in Targa Resources by 28.0% during the 1st 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 period. Finally, Amundi lifted its holdings in Targa Resources by 10.8% during the 2nd 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 period. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $302.31 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. The business has a 50-day moving average price of $288.85 and a two-hundred day moving average price of $271.67. Targa Resources, Inc. has a 1-year low of $150.00 and a 1-year high of $307.94. The company has a market cap of $64.82 billion, a P/E ratio of 27.68, a PEG ratio of 1.20 and a beta of 0.80.

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

Targa Resources Announces Dividend

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

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the transaction, the director directly owned 62,292 shares of the company’s stock, valued at approximately $18,079,007.16. The trade was a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Waters S. Iv Davis sold 2,400 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the transaction, the director owned 1,529 shares in the company, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,216 shares of company stock worth $2,127,634. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TRGP has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on Targa Resources from $303.00 to $328.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings upgraded Targa Resources from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. raised their price objective on Targa Resources from $315.00 to $351.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada lifted their price objective on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Scotiabank reiterated an “outperform” rating and issued a $319.00 target price on shares of Targa Resources in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $319.25.

About Targa Resources

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.