Targa Resources Partners Rating Reiterated by Barclays (NGLS)
Targa Resources Partners (NASDAQ:NGLS)‘s stock had its “equal weight” rating restated by Barclays in a research note issued on Monday. They currently have a $69.00 price objective on the stock, up from their previous price objective of $68.00. Barclays’ price objective would indicate a potential upside of 2.74% from the company’s current price.
A number of other analysts have also recently weighed in on NGLS. Analysts at RBC Capital raised their price target on shares of Targa Resources Partners from $69.00 to $74.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs upgraded shares of Targa Resources Partners to a “conviction buy list” rating in a research note on Thursday, July 3rd. Finally, analysts at Wells Fargo & Co. downgraded shares of Targa Resources Partners from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.96.
Targa Resources Partners (NASDAQ:NGLS) traded down 0.51% on Monday, hitting $66.815. 41,282 shares of the company’s stock traded hands. Targa Resources Partners has a one year low of $47.57 and a one year high of $83.49. The stock has a 50-day moving average of $69. and a 200-day moving average of $60.95. The company has a market cap of $7.637 billion and a price-to-earnings ratio of 36.86.
Targa Resources Partners (NASDAQ:NGLS) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.21. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, analysts predict that Targa Resources Partners will post $2.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Monday, July 28th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Targa Resources Partners’s previous quarterly dividend of $0.76.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).
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