Achmea Investment Management B.V. Sells 128,118 Shares of Targa Resources, Inc. $TRGP

Achmea Investment Management B.V. decreased its holdings in Targa Resources, Inc. (NYSE:TRGP) by 92.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,487 shares of the pipeline company’s stock after selling 128,118 shares during the period. Achmea Investment Management B.V.’s holdings in Targa Resources were worth $1,757,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Peoples Financial Services CORP. bought a new stake in Targa Resources in the 3rd quarter valued at $34,000. Root Financial Partners LLC bought a new position in Targa Resources during the third quarter worth $39,000. Avion Wealth increased its holdings in shares of Targa Resources by 475.0% in the third quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. First Horizon Corp acquired a new position in shares of Targa Resources in the third quarter valued at $47,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Targa Resources in the second quarter valued at about $53,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other news, President Jennifer R. Kneale sold 29,509 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total transaction of $6,790,611.08. Following the sale, the president directly owned 235,260 shares in the company, valued at approximately $54,138,031.20. The trade was a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patrick J. Mcdonie sold 31,537 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $239.36, for a total transaction of $7,548,696.32. Following the completion of the transaction, the insider owned 305,163 shares of the company’s stock, valued at approximately $73,043,815.68. This trade represents a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 104,929 shares of company stock valued at $24,692,134. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Stock Down 2.9%

Shares of NYSE TRGP opened at $233.91 on Thursday. The stock has a market capitalization of $50.28 billion, a P/E ratio of 27.23, a PEG ratio of 1.58 and a beta of 0.84. The stock’s fifty day moving average is $214.15 and its 200 day moving average is $184.68. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $250.00. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.12 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s dividend payout ratio is presently 46.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $242.00 price objective on shares of Targa Resources in a research report on Friday, February 20th. Barclays reaffirmed an “overweight” rating and issued a $226.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Royal Bank Of Canada lifted their price target on Targa Resources from $218.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Weiss Ratings upgraded Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Finally, Stifel Nicolaus upped their price objective on Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and a consensus target price of $242.46.

About Targa Resources

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.