Cibc World Market Inc. Has $27.83 Million Holdings in Targa Resources, Inc. $TRGP

Cibc World Market Inc. decreased its holdings in Targa Resources, Inc. (NYSE:TRGP – Free Report) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,119 shares of the pipeline company’s stock after selling 5,501 shares during the quarter. Cibc World Market Inc. owned 0.08% of Targa Resources worth $27,832,000 at the end of the most recent reporting period. Get Targa Resources alerts: Sign Up A number of other institutional investors and hedge funds have also recently made changes to their positions in TRGP. Norges Bank bought a new position in shares of Targa Resources during the second quarter worth approximately $708,366,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Targa Resources by 441.3% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 675,352 shares of the pipeline company’s stock worth $117,565,000 after acquiring an additional 550,591 shares during the period. Franklin Resources Inc. increased its stake in Targa Resources by 306.6% during the 2nd quarter. Franklin Resources Inc. now owns 601,370 shares of the pipeline company’s stock worth $104,686,000 after acquiring an additional 453,460 shares during the period. Vanguard Group Inc. raised its holdings in Targa Resources by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 27,960,214 shares of the pipeline company’s stock valued at $4,867,314,000 after acquiring an additional 375,939 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of Targa Resources by 290.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 503,770 shares of the pipeline company’s stock valued at $87,696,000 after acquiring an additional 374,768 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock. Targa Resources Stock Performance Targa Resources stock opened at $222.18 on Thursday. The business has a 50 day moving average of $188.52 and a 200-day moving average of $172.70. The company has a market capitalization of $47.69 billion, a P/E ratio of 29.54, a P/E/G ratio of 0.93 and a beta of 0.88. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $222.59. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s dividend payout ratio (DPR) is presently 53.19%. Insiders Place Their Bets In other news, insider Gerald R. Shrader sold 2,750 shares of Targa Resources stock in a transaction on Friday, December 5th. The shares were sold at an average price of $181.21, for a total transaction of $498,327.50. Following the transaction, the insider owned 29,561 shares in the company, valued at approximately $5,356,748.81. The trade was a 8.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider D. Scott Pryor sold 20,000 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total value of $3,444,200.00. Following the completion of the sale, the insider owned 22,139 shares of the company’s stock, valued at $3,812,557.19. The trade was a 47.46% decrease in their ownership of the stock.