Targa Resources Corp. PT Raised to $90.00 at Jefferies Group (TRGP)
Equities research analysts at Jefferies Group hoisted their price target on shares of Targa Resources Corp. (NASDAQ:TRGP) to $90.00 in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 13.54% from the stock’s previous close.
Shares of Targa Resources Corp. (NASDAQ:TRGP) traded down 0.36% on Friday, hitting $79.27. 157,976 shares of the company’s stock traded hands. Targa Resources Corp. has a 52 week low of $44.63 and a 52 week high of $72.44. The stock has a 50-day moving average of $68.53 and a 200-day moving average of $66.55. The company has a market cap of $3.356 billion and a P/E ratio of 69.79.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Tuesday, October 29th. This is a boost from Targa Resources Corp.’s previous quarterly dividend of $0.53.
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird downgraded shares of Targa Resources Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, October 17th. They now have a $79.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Targa Resources Corp. from $76.00 to $90.00 in a research note to investors on Wednesday, September 25th. They now have an “overweight” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Targa Resources Corp. from $79.00 to $84.00 in a research note to investors on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $78.00.
Targa Resources Corp. (NASDAQ:TRGP) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets.
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