Targa Resources Partners Price Target Increased to $63.00 by Analysts at RBC Capital (NGLS)
Equities researchers at RBC Capital boosted their price target on shares of Targa Resources Partners (NASDAQ:NGLS) from $57.00 to $63.00 in a research report issued on Tuesday, Analyst Ratings Network reports. RBC Capital’s target price points to a potential upside of 13.88% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs initiated coverage on shares of Targa Resources Partners in a research note on Wednesday, December 11th. They set a “neutral” rating on the stock. Analysts at Wunderlich initiated coverage on shares of Targa Resources Partners in a research note on Wednesday, December 4th. They set a “buy” rating and a $56.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.30.
Shares of Targa Resources Partners (NASDAQ:NGLS) opened at 55.32 on Tuesday. Targa Resources Partners has a one year low of $40.26 and a one year high of $56.94. The stock’s 50-day moving average is $51.83 and its 200-day moving average is $50.77. The company has a market cap of $6.052 billion and a P/E ratio of 46.21.
Targa Resources Partners (NASDAQ:NGLS) last announced its earnings results on Wednesday, February 19th. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.27. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company posted $0.14 earnings per share. Targa Resources Partners’s revenue was up 41.5% compared to the same quarter last year. On average, analysts predict that Targa Resources Partners will post $1.44 earnings per share for the current fiscal year.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.