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Shares of Targa Resources Corp (NASDAQ:TRGP) reached a new 52-week high during mid-day trading on Friday , Stock Ratings Network.com reports. The stock traded as high as $119.80 and last traded at $119.68, with a volume of 115,304 shares trading hands. The stock had previously closed at $119.13.

TRGP has been the subject of a number of recent research reports. Analysts at Global Hunter Securities initiated coverage on shares of Targa Resources Corp in a research note on Tuesday. They set a “buy” rating and a $131.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Targa Resources Corp from $104.00 to $110.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Targa Resources Corp from a “market perform” rating to an “outperform” rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.45.

The stock has a 50-day moving average of $111. and a 200-day moving average of $96.38. The company has a market cap of $5.081 billion and a P/E ratio of 70.08.

Targa Resources Corp (NASDAQ:TRGP) last released its earnings data on Thursday, May 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by $0.15. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Targa Resources Corp will post $2.41 EPS for the current fiscal year.

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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