Targa Resources, Inc. $TRGP Holdings Cut by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR decreased its position in Targa Resources, Inc. (NYSE:TRGP) by 44.2% during the third quarter, HoldingsChannel.com reports. The firm owned 14,104 shares of the pipeline company’s stock after selling 11,178 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Targa Resources were worth $3,812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC increased its holdings in Targa Resources by 238.0% in the 2nd quarter. Tidal Investments LLC now owns 41,741 shares of the pipeline company’s stock worth $11,192,000 after buying an additional 29,390 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Targa Resources in the second quarter worth approximately $100,442,000. Freedom Day Solutions LLC bought a new position in Targa Resources in the 3rd quarter worth $2,631,000. Nykredit A S purchased a new position in shares of Targa Resources during the 2nd quarter valued at about $33,314,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Targa Resources by 5.8% during the second 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. Institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Charles Crisp sold 3,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the transaction, the director owned 62,292 shares in the company, valued at $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director S Davis sold 2,400 shares of Targa Resources stock in a transaction on Friday, August 21st. The stock was sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the transaction, the director directly owned 1,529 shares of the company’s stock, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,216 shares of company stock worth $2,127,634 over the last 90 days. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRGP shares. Stifel Nicolaus set a $335.00 price objective on Targa Resources in a research report on Friday, October 9th. Morgan Stanley increased their price objective on shares of Targa Resources from $343.00 to $359.00 and gave the company an “overweight” rating in a report on Wednesday, September 16th. Truist Financial reiterated a “buy” rating and set a $345.00 price objective (up from $312.00) on shares of Targa Resources in a research report on Monday, September 21st. Barclays boosted their target price on shares of Targa Resources from $284.00 to $294.00 and gave the stock an “overweight” rating in a report on Thursday, October 8th. Finally, Royal Bank Of Canada boosted their target price on shares of Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $325.47.

Targa Resources Trading Up 1.0%

Shares of Targa Resources stock opened at $305.69 on Thursday. Targa Resources, Inc. has a twelve month low of $150.00 and a twelve month high of $308.46. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The business has a 50-day moving average price of $289.77 and a 200-day moving average price of $257.48. The firm has a market cap of $65.55 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.25 and a beta of 0.80.

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

Targa Resources Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.6%. Targa Resources’s dividend payout ratio is presently 47.80%.

Targa Resources 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.