Charles Schwab Investment Management Inc. Sells 592,930 Shares of Targa Resources Corp. (NYSE:TRGP)

Charles Schwab Investment Management Inc. lowered its position in Targa Resources Corp. (NYSE:TRGPFree Report) by 31.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,317,433 shares of the pipeline company’s stock after selling 592,930 shares during the period. Charles Schwab Investment Management Inc. owned about 0.59% of Targa Resources worth $112,930,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Cetera Advisor Networks LLC purchased a new position in shares of Targa Resources in the first quarter worth approximately $250,000. PNC Financial Services Group Inc. lifted its position in Targa Resources by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 14,741 shares of the pipeline company’s stock valued at $1,112,000 after purchasing an additional 737 shares in the last quarter. Sei Investments Co. grew its holdings in Targa Resources by 11.6% during the first quarter. Sei Investments Co. now owns 186,471 shares of the pipeline company’s stock valued at $14,072,000 after purchasing an additional 19,372 shares during the period. Brighton Jones LLC bought a new position in shares of Targa Resources in the first quarter worth about $249,000. Finally, Covestor Ltd lifted its position in shares of Targa Resources by 91.8% during the 1st quarter. Covestor Ltd now owns 1,429 shares of the pipeline company’s stock valued at $108,000 after buying an additional 684 shares in the last quarter. Institutional investors own 90.21% of the company’s stock.

Insider Activity at Targa Resources

In related news, Director Charles R. Crisp sold 3,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $85.01, for a total transaction of $255,030.00. Following the transaction, the director now directly owns 116,524 shares in the company, valued at approximately $9,905,705.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.39% of the stock is currently owned by insiders.

Targa Resources Trading Down 0.9 %

Shares of NYSE TRGP opened at $87.09 on Friday. Targa Resources Corp. has a 1-year low of $64.85 and a 1-year high of $91.43. The company has a debt-to-equity ratio of 2.81, a current ratio of 0.80 and a quick ratio of 0.60. The business’s 50 day moving average is $85.60 and its two-hundred day moving average is $85.23. The stock has a market capitalization of $19.42 billion, a P/E ratio of 22.80 and a beta of 2.18.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, January 30th. Targa Resources’s dividend payout ratio is currently 52.36%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Targa Resources from $94.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. UBS Group lowered their price target on Targa Resources from $109.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Finally, Truist Financial lifted their price objective on shares of Targa Resources from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.00.

View Our Latest Analysis on Targa Resources

Targa Resources Company Profile

(Free Report)

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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation.

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Institutional Ownership by Quarter for Targa Resources (NYSE:TRGP)

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