Targa Resources Corp Receives Buy Rating from Citigroup Inc. (TRGP)
Targa Resources Corp (NASDAQ:TRGP)‘s stock had its “buy” rating reaffirmed by analysts at Citigroup Inc. in a research report issued to clients and investors on Tuesday. They currently have a $152.00 price objective on the stock, up from their previous price objective of $112.00. Citigroup Inc.’s target price suggests a potential upside of 7.93% from the stock’s previous close.
TRGP has been the subject of a number of other recent research reports. Analysts at Wunderlich raised their price target on shares of Targa Resources Corp from $108.00 to $125.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $114.09.
Shares of Targa Resources Corp (NASDAQ:TRGP) traded down 1.49% on Tuesday, hitting $138.7299. The stock had a trading volume of 269,071 shares. Targa Resources Corp has a 52 week low of $62.02 and a 52 week high of $160.97. The stock’s 50-day moving average is $117.9 and its 200-day moving average is $100.5. The company has a market cap of $5.849 billion and a price-to-earnings ratio of 82.84.
Targa Resources Corp (NASDAQ:TRGP) last posted its quarterly earnings results 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 $2.43 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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