Fri Sep 20 13:44:16 UTC 2024: ## Virtu Financial Cuts Stake in Targa Resources, Other Investors Increase Holdings

**New York, NY** – Virtu Financial LLC reduced its stake in Targa Resources Corp. (NYSE:TRGP) by 41% during the second quarter, according to a recent SEC filing. The firm sold 4,219 shares, leaving them with 6,059 shares worth $780,000 at the end of the quarter.

However, several other institutional investors and hedge funds increased their holdings in the pipeline company during the same period. Dimensional Fund Advisors LP expanded its stake by 13.4%, now owning 2,303,522 shares valued at $296,647,000. Brown Brothers Harriman & Co. saw a 28.9% growth in its stake, now owning 848 shares worth $109,000. Envestnet Asset Management Inc. boosted its holdings by 4.2%, now owning 454,303 shares worth $58,505,000.

Other notable increases include Oppenheimer Asset Management Inc. (up 1.9%) and Parallel Advisors LLC (up 12%). Hedge funds and institutional investors currently own 92.13% of the company’s stock.

**Targa Resources’ Performance and Dividends**

TRGP opened at $152.14 on Friday, with a 50-day moving average of $140.64 and a 200-day moving average of $124.92. The company has a 1-year low of $77.97 and a 1-year high of $154.87.

The company recently paid a quarterly dividend of $0.75 on August 15th, representing a $3.00 annualized dividend and a yield of 1.97%.

**Insider Trading Activity**

Robert Muraro, an insider at Targa Resources, sold 2,500 shares on September 3rd at an average price of $146.20, for a total transaction of $365,500. Following the sale, Muraro owns 174,451 shares valued at $25,504,736.20.

Director Paul W. Chung sold 5,264 shares on August 12th at an average price of $138.03, for a total transaction of $726,589.92. Chung now owns 232,827 shares valued at $32,137,110.81.

**Analyst Ratings and Outlook**

Multiple analysts have recently commented on TRGP shares. Argus raised the stock to a “strong-buy” rating, while UBS Group increased their target price from $116.00 to $147.00 and maintained a “buy” rating. Truist Financial lifted their price target to $150.00 and gave the stock a “buy” rating. The Goldman Sachs Group increased their price objective to $163.00 with a “buy” rating. Barclays upped their target price from $123.00 to $138.00 and gave the stock an “overweight” rating.

Overall, one investment analyst has rated the stock with a hold rating, twelve have issued a buy rating, and one has issued a strong buy rating. The company has an average rating of “Buy” and a consensus price target of $141.77, according to MarketBeat.com.

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