New York State Common Retirement Fund lowered its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 19.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,765 shares of the pipeline company's stock after selling 31,400 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of Targa Resources worth $19,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in Targa Resources by 7.3% in the 3rd quarter. US Bancorp DE now owns 24,037 shares of the pipeline company's stock valued at $3,558,000 after acquiring an additional 1,628 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Targa Resources by 2.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,595 shares of the pipeline company's stock valued at $1,272,000 after acquiring an additional 237 shares in the last quarter. Creekmur Asset Management LLC boosted its stake in shares of Targa Resources by 332.6% in the 3rd quarter. Creekmur Asset Management LLC now owns 6,269 shares of the pipeline company's stock valued at $928,000 after purchasing an additional 4,820 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Targa Resources in the 3rd quarter valued at about $208,000. Finally, abrdn plc boosted its stake in shares of Targa Resources by 6.9% in the 3rd quarter. abrdn plc now owns 552,904 shares of the pipeline company's stock valued at $81,299,000 after purchasing an additional 35,919 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

NYSE TRGP opened at $169.20 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. Targa Resources Corp. has a 12-month low of $81.03 and a 12-month high of $169.92. The company has a market capitalization of $37.07 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 1.29 and a beta of 2.24. The firm's 50 day moving average is $155.70 and its 200-day moving average is $136.39.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.75 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.77%. Targa Resources's dividend payout ratio (DPR) is presently 63.16%.

In related news, Director Joe Bob Perkins sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joe Bob Perkins sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the transaction, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Muraro sold 2,500 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the transaction, the insider now owns 174,451 shares in the company, valued at approximately $25,504,736.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,321 shares of company stock worth $26,654,881 over the last ninety days. Insiders own 1.39% of the company's stock.

TRGP has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $147.00 to $163.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Argus raised shares of Targa Resources to a "strong-buy" rating in a research note on Tuesday, September 3rd. Wells Fargo & Company lifted their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Finally, Bank of America initiated coverage on shares of Targa Resources in a research note on Thursday, October 17th. They set a "buy" rating and a $182.00 price objective on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $152.79.

Read Our Latest Research Report on TRGP

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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