Covea Finance Sells 11,400 Shares of Targa Resources Corp. (NYSE:TRGP)

Covea Finance lessened its position in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) by 13.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,240 shares of the pipeline company's stock after selling 11,400 shares during the period. Covea Finance's holdings in Targa Resources were worth $12,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Buckley Wealth Management LLC lifted its position in shares of Targa Resources by 0.7% during the third quarter. Buckley Wealth Management LLC now owns 9,925 shares of the pipeline company's stock worth $1,469,000 after acquiring an additional 65 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Targa Resources by 0.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company's stock worth $1,153,000 after purchasing an additional 66 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Targa Resources by 9.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 934 shares of the pipeline company's stock worth $138,000 after purchasing an additional 83 shares during the period. Prime Capital Investment Advisors LLC boosted its stake in Targa Resources by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,172 shares of the pipeline company's stock worth $321,000 after purchasing an additional 84 shares during the period. Finally, Huntington National Bank grew its holdings in Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock valued at $71,000 after buying an additional 89 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Insider Buying and Selling at Targa Resources

In other news, CAO Julie H. Boushka sold 3,260 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now owns 82,979 shares of the company's stock, valued at $15,793,393.07. This represents a 26.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.44% of the company's stock.

Targa Resources Price Performance

NYSE:TRGP traded up $3.87 during mid-day trading on Wednesday, reaching $205.25. The stock had a trading volume of 1,444,744 shares, compared to its average volume of 1,481,783. The stock has a market capitalization of $44.76 billion, a P/E ratio of 37.12, a P/E/G ratio of 0.73 and a beta of 2.30. The firm has a 50 day moving average price of $190.21 and a two-hundred day moving average price of $162.26. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources Corp. has a one year low of $81.03 and a one year high of $209.87.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business posted $0.97 EPS. As a group, analysts expect that Targa Resources Corp. will post 6.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Barclays increased their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday. US Capital Advisors lowered shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, November 26th. The Goldman Sachs Group increased their price objective on Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Bank of America assumed coverage on Targa Resources in a research report on Thursday, October 17th. They set a "buy" rating and a $182.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Targa Resources currently has an average rating of "Buy" and a consensus target price of $189.21.

Targa Resources Company Profile

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.