Citigroup Inc. significantly reduced its stake in Targa Resources (TRGP) by 39.5% in Q3, selling 77,604 shares. Despite this institutional repositioning and recent insider selling, analysts maintain a “Moderate Buy” rating with a consensus price target of $235.50 following a Q4 EPS beat and a dividend increase. The company also announced a $1.5 billion senior notes offering, increasing its leverage.
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Targa Resources, Inc. $TRGP Shares Sold by Citigroup Inc.
Citigroup Inc. significantly reduced its stake in Targa Resources (TRGP) by 39.5% in Q3, selling 77,604 shares. Despite this institutional repositioning and recent insider selling, analysts maintain a “Moderate Buy” rating with a consensus price target of $235.50 following a Q4 EPS beat and a dividend increase. The company also announced a $1.5 billion senior notes offering, increasing its leverage.