Targa Resources Corp. (NYSE:TRGP) Position Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Targa Resources Corp. (NYSE:TRGP) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,464,111 shares of the pipeline company’s stock after buying an additional 38,723 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Targa Resources were worth $261,344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Targa Resources by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock valued at $2,235,927,000 after acquiring an additional 633,589 shares during the last quarter. National Bank of Canada FI increased its stake in Targa Resources by 75.4% during the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock valued at $89,413,000 after purchasing an additional 259,776 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Targa Resources by 40.0% during the fourth quarter. Allianz Asset Management GmbH now owns 890,514 shares of the pipeline company’s stock valued at $158,957,000 after purchasing an additional 254,286 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Targa Resources by 599.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock worth $42,619,000 after purchasing an additional 246,762 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Targa Resources in the 4th quarter worth about $41,222,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TRGP. Stifel Nicolaus increased their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays increased their price target on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Truist Financial reduced their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Citigroup upped their price objective on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Mizuho raised their target price on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and a consensus target price of $207.00.

Insider Activity

In other news, insider Jennifer R. Kneale sold 29,887 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. This represents a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 over the last 90 days. 1.39% of the stock is currently owned by company insiders.

Targa Resources Stock Down 1.8 %

Targa Resources stock opened at $186.67 on Thursday. Targa Resources Corp. has a 52 week low of $103.04 and a 52 week high of $218.51. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 0.61 and a beta of 2.29. The company’s 50-day moving average price is $198.60 and its two-hundred day moving average price is $179.41. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. On average, analysts expect that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

About Targa Resources

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.