Oddo BHF Asset Management Sas Makes New $7.21 Million Investment in Targa Resources Corp. (NYSE:TRGP)

Oddo BHF Asset Management Sas bought a new stake in Targa Resources Corp. (NYSE:TRGP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 48,687 shares of the pipeline company's stock, valued at approximately $7,206,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Targa Resources by 8.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,050 shares of the pipeline company's stock worth $1,552,000 after purchasing an additional 968 shares during the period. Blue Trust Inc. boosted its holdings in Targa Resources by 18.0% in the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the pipeline company's stock worth $192,000 after buying an additional 227 shares during the period. Values First Advisors Inc. lifted its holdings in shares of Targa Resources by 7.1% in the second quarter. Values First Advisors Inc. now owns 3,914 shares of the pipeline company's stock worth $504,000 after buying an additional 259 shares in the last quarter. Chapin Davis Inc. bought a new position in Targa Resources in the 2nd quarter valued at $318,000. Finally, Pallas Capital Advisors LLC grew its position in Targa Resources by 2.0% during the second quarter. Pallas Capital Advisors LLC now owns 29,975 shares of the pipeline company's stock worth $4,082,000 after buying an additional 592 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Stock Performance

NYSE:TRGP traded down $0.97 during mid-day trading on Friday, hitting $184.60. 996,888 shares of the company traded hands, compared to its average volume of 1,649,767. The stock's fifty day moving average price is $181.52 and its 200-day moving average price is $151.76. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources Corp. has a one year low of $81.03 and a one year high of $209.87. The firm has a market cap of $40.25 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 0.74 and a beta of 2.28.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $4.24 billion. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. During the same quarter last year, the business earned $0.97 EPS. Research analysts anticipate that Targa Resources Corp. will post 6.26 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.63%. Targa Resources's dividend payout ratio is presently 54.25%.

Insider Transactions at Targa Resources

In related news, Director Joe Bob Perkins sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares of the company's stock, valued at approximately $17,181,399.10. This trade represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the transaction, the insider now owns 82,979 shares of the company's stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,260 shares of company stock valued at $29,661,212 over the last 90 days. Company insiders own 1.39% of the company's stock.

Analysts Set New Price Targets

TRGP has been the subject of several research analyst reports. US Capital Advisors lowered Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. The Goldman Sachs Group upped their price target on Targa Resources from $147.00 to $163.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Barclays raised their target price on shares of Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Stifel Nicolaus upped their price target on Targa Resources from $190.00 to $224.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price target on Targa Resources from $172.00 to $199.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $176.14.

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. 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.