Targa Resources, Inc. $TRGP Shares Acquired by Groupama Asset Managment

Groupama Asset Managment increased its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 755.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,494 shares of the pipeline company’s stock after buying an additional 10,150 shares during the quarter. Groupama Asset Managment’s holdings in Targa Resources were worth $1,926,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. raised its position in Targa Resources by 5.5% during the 3rd quarter. Alps Advisors Inc. now owns 143,904 shares of the pipeline company’s stock worth $24,110,000 after buying an additional 7,497 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Targa Resources by 37.4% in the 3rd quarter. Korea Investment CORP now owns 260,760 shares of the pipeline company’s stock valued at $43,688,000 after acquiring an additional 70,998 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Targa Resources by 137.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock valued at $11,164,000 after acquiring an additional 38,626 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Targa Resources by 2.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 682,300 shares of the pipeline company’s stock worth $114,313,000 after acquiring an additional 16,000 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Targa Resources by 5.0% in the third quarter. Envestnet Asset Management Inc. now owns 484,462 shares of the pipeline company’s stock worth $81,167,000 after acquiring an additional 22,969 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider directly owned 31,938 shares of the company’s stock, valued at approximately $7,311,246.96. This trade represents a 35.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jennifer R. Kneale sold 29,509 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $230.12, for a total value of $6,790,611.08. Following the completion of the sale, the president owned 235,260 shares of the company’s stock, valued at $54,138,031.20. This trade represents a 11.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,929 shares of company stock worth $24,692,134 over the last quarter. Company insiders own 1.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Barclays reiterated an “overweight” rating and set a $226.00 price objective on shares of Targa Resources in a research note on Friday, February 20th. Wells Fargo & Company lifted their price objective on Targa Resources from $248.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Stifel Nicolaus boosted their price objective on Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a report on Friday, February 20th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $241.00 target price on shares of Targa Resources in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $246.54.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $239.89 on Friday. The company’s fifty day moving average price is $215.42 and its 200 day moving average price is $185.07. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $250.00. The company has a market capitalization of $51.56 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.84. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. On average, research analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. The ex-dividend date was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is 46.57%.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.