Dimensional Fund Advisors LP Lowers Position in Targa Resources Corp. (NYSE:TRGP)

Dimensional Fund Advisors LP lessened its position in Targa Resources Corp. (NYSE:TRGP) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,709,724 shares of the pipeline company’s stock after selling 3,198 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.76% of Targa Resources worth $130,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its stake in shares of Targa Resources by 0.3% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 47,658 shares of the pipeline company’s stock valued at $3,868,000 after purchasing an additional 137 shares during the period. Veracity Capital LLC raised its stake in Targa Resources by 3.7% during the second quarter. Veracity Capital LLC now owns 3,933 shares of the pipeline company’s stock valued at $299,000 after buying an additional 141 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Targa Resources by 2.4% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,368 shares of the pipeline company’s stock valued at $485,000 after buying an additional 149 shares during the last quarter. Moors & Cabot Inc. raised its stake in Targa Resources by 3.4% during the first quarter. Moors & Cabot Inc. now owns 4,609 shares of the pipeline company’s stock valued at $336,000 after buying an additional 150 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Targa Resources by 0.4% during the first quarter. LPL Financial LLC now owns 44,053 shares of the pipeline company’s stock valued at $3,214,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 90.21% of the company’s stock.

Insider Activity at Targa Resources

In related news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $90.03, for a total transaction of $900,300.00. Following the transaction, the insider now directly owns 187,021 shares in the company, valued at $16,837,500.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Julie H. Boushka sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $90.00, for a total value of $180,000.00. Following the transaction, the chief accounting officer now directly owns 58,066 shares in the company, valued at $5,225,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $90.03, for a total value of $900,300.00. Following the completion of the transaction, the insider now owns 187,021 shares in the company, valued at $16,837,500.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,000 shares of company stock worth $1,335,330. Corporate insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TheStreet upgraded Targa Resources from a “c+” rating to a “b” rating in a research note on Tuesday, September 5th. Royal Bank of Canada lifted their target price on Targa Resources from $104.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. StockNews.com initiated coverage on Targa Resources in a report on Thursday, October 5th. They issued a “hold” rating for the company. Barclays lifted their target price on Targa Resources from $89.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Truist Financial lifted their target price on Targa Resources from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $104.00.

Targa Resources Stock Performance

Shares of TRGP opened at $86.90 on Tuesday. The firm has a market capitalization of $19.38 billion, a P/E ratio of 22.75 and a beta of 2.27. 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 has a fifty day moving average of $85.16 and a 200 day moving average of $79.99. Targa Resources Corp. has a one year low of $64.85 and a one year high of $90.64.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $2.00 annualized dividend and a yield of 2.30%. Targa Resources’s dividend payout ratio (DPR) is presently 52.36%.

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