Targa Resources Partners Lowered to Neutral at Credit Suisse (NGLS)
Targa Resources Partners (NASDAQ:NGLS) was downgraded by Credit Suisse from an “outperform” rating to a “neutral” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
Shares of Targa Resources Partners (NASDAQ:NGLS) traded down 1.16% during mid-day trading on Friday, hitting $50.26. 78,739 shares of the company’s stock traded hands. Targa Resources Partners has a 1-year low of $34.39 and a 1-year high of $54.13. The stock has a 50-day moving average of $49.40 and a 200-day moving average of $48.35. The company has a market cap of $5.332 billion and a P/E ratio of 131.06.
Targa Resources Partners (NASDAQ:NGLS) last released its earnings data on Thursday, August 1st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.14. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis.
A number of other firms have also recently commented on NGLS. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Targa Resources Partners (NASDAQ:NGLS) in a research note to investors on Wednesday. They now have a $57.00 price target on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Targa Resources Partners (NASDAQ:NGLS) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $56.00 price target on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Targa Resources Partners (NASDAQ:NGLS) from $53.00 to $57.00 in a research note to investors on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Targa Resources Partners has an average rating of “Buy” and a consensus price target of $55.89.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).
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