Robeco Institutional Asset Management B.V. Sells 4,131 Shares of Targa Resources, Inc. (NYSE:TRGP)

Robeco Institutional Asset Management B.V. cut its holdings in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,177 shares of the pipeline company's stock after selling 4,131 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Targa Resources worth $61,780,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Dynamic Advisor Solutions LLC purchased a new position in shares of Targa Resources during the first quarter valued at approximately $544,000. SBI Securities Co. Ltd. bought a new position in Targa Resources during the 4th quarter valued at approximately $88,000. Commonwealth Equity Services LLC raised its stake in Targa Resources by 30.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,024 shares of the pipeline company's stock valued at $5,002,000 after buying an additional 6,589 shares during the last quarter. West Michigan Advisors LLC bought a new stake in Targa Resources in the fourth quarter worth $579,000. Finally, Aptus Capital Advisors LLC purchased a new stake in shares of Targa Resources in the fourth quarter worth $338,000. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRGP shares. Barclays dropped their price target on shares of Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 20th. Truist Financial increased their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. US Capital Advisors upgraded shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Mizuho set a $212.00 target price on Targa Resources and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Finally, Scotiabank increased their price objective on Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research report on Thursday, June 5th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $204.69.

Targa Resources Price Performance

NYSE TRGP opened at $175.84 on Friday. The company has a 50-day moving average price of $166.29 and a 200-day moving average price of $182.61. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. The firm has a market capitalization of $38.14 billion, a P/E ratio of 32.38, a PEG ratio of 0.60 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Equities research analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $1.00 dividend. The ex-dividend date was Wednesday, April 30th. This represents a dividend yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is 73.66%.

Targa Resources Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.

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