Schwab Charles Investment Management Inc. Has $29.05 Million Position in Targa Resources, Inc. (TRGP)

Schwab Charles Investment Management Inc. lessened its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,656 shares of the pipeline company’s stock after selling 15,830 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.32% of Targa Resources worth $29,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TRGP. Vanguard Group Inc. increased its holdings in shares of Targa Resources by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock worth $955,142,000 after purchasing an additional 1,693,292 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Targa Resources by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,347,747 shares of the pipeline company’s stock worth $859,430,000 after purchasing an additional 1,097,748 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Targa Resources by 2,928.1% in the 1st quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock worth $604,426,000 after purchasing an additional 9,757,325 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Targa Resources by 7.3% in the 1st quarter. OppenheimerFunds Inc. now owns 8,956,121 shares of the pipeline company’s stock worth $536,472,000 after purchasing an additional 611,465 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Targa Resources by 3.2% in the 2nd quarter. Chickasaw Capital Management LLC now owns 7,921,492 shares of the pipeline company’s stock worth $358,051,000 after purchasing an additional 244,459 shares in the last quarter. 87.85% of the stock is owned by institutional investors.

Targa Resources, Inc. (NYSE TRGP) opened at 47.70 on Friday. Targa Resources, Inc. has a 52-week low of $40.25 and a 52-week high of $61.83. The stock’s market capitalization is $10.28 billion. The company’s 50-day moving average price is $44.87 and its 200 day moving average price is $49.56.

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In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the sale, the insider now directly owns 50,853 shares of the company’s stock, valued at approximately $2,273,129.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.93% of the stock is owned by corporate insiders.

A number of research firms have commented on TRGP. UBS AG reissued a “buy” rating and issued a $65.00 target price (down previously from $68.00) on shares of Targa Resources in a report on Tuesday, May 30th. Credit Suisse Group set a $54.00 target price on Targa Resources and gave the stock a “hold” rating in a report on Sunday, May 28th. ValuEngine raised Targa Resources from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and issued a $54.00 target price (down previously from $63.00) on shares of Targa Resources in a report on Monday, July 17th. Finally, Barclays PLC lowered Targa Resources from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $55.00 to $47.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $54.33.

About Targa Resources

Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.

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

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