BlackRock Amends Targa Resources Stake, Updates Ownership as of Dec 31
Ticker: TRGP · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1389170
| Field | Detail |
|---|---|
| Company | Targa Resources Corp. (TRGP) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
Related Tickers: TRGP
TL;DR
**BlackRock updated its Targa Resources Corp. ownership, showing its stake as of year-end 2023.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 25, 2024, indicating its ownership of Targa Resources Corp. common stock as of December 31, 2023. This amendment (Amendment No. 2) updates their previous disclosures regarding their stake in Targa Resources Corp. (ticker: TRGP). This matters to investors because BlackRock is a major institutional investor, and changes in their reported holdings can signal their ongoing confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.
Why It Matters
This filing shows BlackRock's updated ownership in Targa Resources Corp., providing transparency on a significant institutional investor's position, which can influence market sentiment.
Risk Assessment
Risk Level: low — This is a routine amendment filing by a large institutional investor, not indicating any immediate high-risk event.
Analyst Insight
Investors should note BlackRock's continued presence as a significant shareholder in Targa Resources Corp. and await the full details of their updated ownership percentage and share count, which would typically be found on the subsequent pages of the filing, to assess any material changes in their investment thesis.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Targa Resources Corp. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event which required the filing
- January 25, 2024 (date) — the date the SC 13G/A was filed
- Amendment No. 2 (number) — the specific amendment number of the filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'Amendment No: 2'.
Who is the reporting person in this filing?
The reporting person, or the entity filing the statement, is BlackRock Inc., as stated under the 'FILED BY' section.
What is the subject company whose securities are being reported?
The subject company is Targa Resources Corp., as identified under the 'SUBJECT COMPANY' section and 'Name of Issuer' on the Schedule 13G.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as explicitly stated on the Schedule 13G cover page.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G/A filed?
This Schedule 13G/A is filed under Rule 13d-1(b), as indicated by the 'X' next to '[X] Rule 13d-1(b)' on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding Targa Resources Corp. (TRGP).