Groupama Asset Managment Makes New $2.22 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Groupama Asset Managment bought a new stake in shares of Targa Resources Corp. (NYSE:TRGP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 12,465 shares of the pipeline company's stock, valued at approximately $2,216,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRGP. MML Investors Services LLC boosted its stake in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company's stock valued at $3,791,000 after purchasing an additional 10,100 shares in the last quarter. Nordea Investment Management AB boosted its position in Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company's stock valued at $5,070,000 after buying an additional 13,167 shares in the last quarter. Capital Investment Advisors LLC grew its stake in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company's stock worth $1,476,000 after buying an additional 5,431 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in Targa Resources during the fourth quarter worth about $271,000. Finally, Segment Wealth Management LLC increased its holdings in shares of Targa Resources by 2,753.4% during the fourth quarter. Segment Wealth Management LLC now owns 55,328 shares of the pipeline company's stock worth $9,876,000 after buying an additional 53,389 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

Targa Resources Trading Up 0.1 %

Shares of TRGP stock traded up $0.13 during trading hours on Monday, reaching $161.32. The company had a trading volume of 2,086,937 shares, compared to its average volume of 1,685,832. Targa Resources Corp. has a 1-year low of $110.09 and a 1-year high of $218.51. The company has a 50 day moving average of $197.03 and a 200 day moving average of $186.74. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 0.61 and a beta of 1.75.

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Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. On average, equities research analysts anticipate that Targa Resources Corp. will post 8.15 EPS for the current year.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources's payout ratio is presently 52.26%.

Analyst Ratings Changes

TRGP has been the topic of several recent analyst reports. Citigroup boosted their target price on Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Scotiabank decreased their target price on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Morgan Stanley lifted their price target on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $204.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada boosted their target price on shares of Targa Resources from $220.00 to $221.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $211.00.

Insiders Place Their Bets

In other news, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the sale, the insider now directly owns 227,269 shares in the company, valued at $43,731,100.98. This trade represents a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total transaction of $6,905,500.00. Following the sale, the insider now directly owns 82,139 shares in the company, valued at $16,206,024.70. This trade represents a 29.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,914 shares of company stock worth $22,613,288. Corporate insiders own 1.39% of the company's stock.

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.