Targa Resources Corp Given Average Recommendation of “Buy” by Brokerages (NASDAQ:TRGP)
Targa Resources Corp (NASDAQ:TRGP) has received an average rating of “Buy” from the fourteen brokerages that are covering the company, ARN reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $127.55.
Targa Resources Corp (NASDAQ:TRGP) opened at 139.99 on Thursday. Targa Resources Corp has a 52 week low of $67.91 and a 52 week high of $160.97. The stock’s 50-day moving average is $135.6 and its 200-day moving average is $116.7. The company has a market cap of $5.902 billion and a P/E ratio of 71.10.
Targa Resources Corp (NASDAQ:TRGP) last announced its earnings results on Friday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $2.06 million for the quarter, compared to the consensus estimate of $2.06 billion. Analysts expect that Targa Resources Corp will post $2.68 EPS for the current fiscal year.
A number of analysts have recently weighed in on TRGP shares. Analysts at Global Hunter Securities raised their price target on shares of Targa Resources Corp from $142.00 to $144.00 in a research note on Tuesday, August 5th. Separately, analysts at Raymond James raised their price target on shares of Targa Resources Corp from $113.00 to $138.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Targa Resources Corp from $74.00 to $76.00 in a research note on Tuesday, August 5th.
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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