Targa Resources Corp Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:TRGP)
Shares of Targa Resources Corp (NASDAQ:TRGP) have been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the company, AnalystRatings.NET reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $102.45.
A number of analysts have recently weighed in on TRGP shares. Analysts at Global Hunter Securities initiated coverage on shares of Targa Resources Corp in a research note on Tuesday, June 3rd. 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, June 3rd. 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.
Shares of Targa Resources Corp (NASDAQ:TRGP) traded down 0.59% on Tuesday, hitting $119.74. The stock had a trading volume of 21,522 shares. Targa Resources Corp has a 52 week low of $60.01 and a 52 week high of $122.13. The stock has a 50-day moving average of $112.1 and a 200-day moving average of $97.24. The company has a market cap of $5.048 billion and a price-to-earnings ratio of 70.85.
Targa Resources Corp (NASDAQ:TRGP) last released its earnings data on Thursday, May 1st. The company reported $0.47 earnings per share for the quarter, missing the analysts’ 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. On average, analysts predict that Targa Resources Corp will post $2.41 earnings per share 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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