Oddo BHF Asset Management Sas Sells 12,327 Shares of Targa Resources, Inc. $TRGP

Oddo BHF Asset Management Sas lowered its stake in shares of Targa Resources, Inc. (NYSE:TRGP) by 52.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,347 shares of the pipeline company’s stock after selling 12,327 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Targa Resources were worth $2,094,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Targa Resources during the fourth quarter valued at about $27,000. Atlantic Union Bankshares Corp bought a new stake in Targa Resources during the fourth quarter valued at about $27,000. Leonteq Securities AG bought a new stake in Targa Resources during the fourth quarter valued at about $31,000. Godfrey Financial Associates Inc. bought a new stake in Targa Resources during the fourth quarter valued at about $37,000. Finally, Eagle Bay Advisors LLC bought a new stake in Targa Resources during the fourth quarter valued at about $42,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 1.0%

Targa Resources stock opened at $259.62 on Wednesday. The stock has a 50-day moving average of $256.08 and a two-hundred day moving average of $224.49. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $280.00. The stock has a market cap of $55.72 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.68 billion. On average, research analysts anticipate that Targa Resources, Inc. will post 10.75 EPS for the current fiscal year.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, April 30th. Targa Resources’s dividend payout ratio is presently 50.56%.

Insider Activity at Targa Resources

In related news, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director owned 66,492 shares of the company’s stock, valued at $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TRGP shares. Seaport Research Partners reaffirmed a “neutral” rating on shares of Targa Resources in a research report on Monday, May 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $281.00 price target on shares of Targa Resources in a research note on Tuesday, May 12th. Scotiabank increased their price target on Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. UBS Group increased their price target on Targa Resources from $228.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Morgan Stanley increased their price target on Targa Resources from $327.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.21.

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.