Targa Resources Partners Short Interest Up 37.3% in May (NGLS)
Shares of Targa Resources Partners (NYSE:NGLS) were the target of a large increase in short interest during the month of May. As of May 30th, there was short interest totalling 1,952,485 shares, an increase of 37.3% from the May 15th total of 1,421,961 shares, Analyst RN reports. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 289,763 shares, the days-to-cover ratio is currently 6.7 days.
NGLS has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Targa Resources Partners from $63.00 to $69.00 in a research note on Friday, May 2nd. Separately, analysts at Credit Suisse raised their price target on shares of Targa Resources Partners from $60.00 to $63.00 in a research note on Friday, May 2nd. Finally, analysts at Barclays raised their price target on shares of Targa Resources Partners from $60.00 to $65.00 in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.00.
Targa Resources Partners (NYSE:NGLS) opened at 72.56 on Thursday. Targa Resources Partners has a 1-year low of $47.57 and a 1-year high of $83.49. The stock’s 50-day moving average is $67.35 and its 200-day moving average is $57.59. The company has a market cap of $8.293 billion and a P/E ratio of 39.12.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NYSE: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.