Schechter Investment Advisors LLC Lowers Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Schechter Investment Advisors LLC lessened its holdings in Targa Resources Corp. (NYSE:TRGP) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,502 shares of the pipeline company’s stock after selling 368 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Targa Resources were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TRGP. Farther Finance Advisors LLC boosted its holdings in Targa Resources by 1,217.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,270 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 3,946 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Targa Resources by 8.0% in the 3rd quarter. Van ECK Associates Corp now owns 71,523 shares of the pipeline company’s stock valued at $10,586,000 after purchasing an additional 5,288 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Targa Resources by 599.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock valued at $42,619,000 after purchasing an additional 246,762 shares in the last quarter. National Pension Service boosted its holdings in Targa Resources by 2.9% in the 3rd quarter. National Pension Service now owns 298,382 shares of the pipeline company’s stock valued at $44,164,000 after purchasing an additional 8,321 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Targa Resources by 33.9% in the 3rd quarter. QRG Capital Management Inc. now owns 8,086 shares of the pipeline company’s stock valued at $1,197,000 after purchasing an additional 2,048 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling at Targa Resources

In other news, CEO Matthew J. Meloy sold 48,837 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the sale, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at $141,555,510.24. The trade was a 6.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares of the company’s stock, valued at $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,914 shares of company stock worth $22,613,288. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

TRGP has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Scotiabank assumed coverage on shares of Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced their price target on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $207.00.

Targa Resources Trading Down 1.8 %

Shares of Targa Resources stock opened at $186.67 on Thursday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources Corp. has a 1 year low of $103.04 and a 1 year high of $218.51. The company has a market capitalization of $40.71 billion, a P/E ratio of 32.52, a P/E/G ratio of 0.61 and a beta of 2.29. The business has a 50 day moving average price of $198.60 and a 200 day moving average price of $179.41.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion during 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%. Sell-side analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.61%. Targa Resources’s dividend payout ratio (DPR) 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.