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

ING Groep NV lowered its stake in Targa Resources, Inc. (NYSE:TRGP) by 32.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,019 shares of the pipeline company’s stock after selling 21,225 shares during the period. ING Groep NV’s holdings in Targa Resources were worth $7,542,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Woodline Partners LP increased its position in shares of 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 grew its stake in Targa Resources by 157.4% during the 1st 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 during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Targa Resources by 26.3% in 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 during the period. NorthRock Partners LLC raised its stake 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 worth $378,000 after purchasing an additional 1,070 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings 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 during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $266.00 target price on shares of Targa Resources in a research report on Wednesday, January 28th. BMO Capital Markets lifted their price objective on shares of Targa Resources from $185.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Targa Resources in a report on Monday, January 12th. Wall Street Zen cut shares of Targa Resources from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, UBS Group restated a “buy” rating on shares of Targa Resources in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and an average price target of $213.50.

Insider Buying and Selling at Targa Resources

In other news, insider Gerald R. Shrader sold 2,750 shares of the 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 sale, the insider directly owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This represents a 8.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.34% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP 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 has a market capitalization of $46.89 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 0.95 and a beta of 0.88. The firm’s 50 day simple moving average is $189.29 and its 200-day simple moving average is $173.02. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $224.98.

Targa Resources Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a yield of 1.8%. Targa Resources’s payout ratio is presently 53.19%.

Targa Resources Profile

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.