Targa Resources Partners Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:NGLS)
Shares of Targa Resources Partners (NASDAQ:NGLS) have received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the company, American Banking News reports. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.73.
Targa Resources Partners (NASDAQ:NGLS) traded down 0.23% on Thursday, hitting $73.52. 11,478 shares of the company’s stock traded hands. Targa Resources Partners has a 52 week low of $47.57 and a 52 week high of $83.49. The stock has a 50-day moving average of $69.03 and a 200-day moving average of $63.31. The company has a market cap of $8.436 billion and a price-to-earnings ratio of 30.33.
Targa Resources Partners (NASDAQ:NGLS) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 43.0% on a year-over-year basis. On average, analysts predict that Targa Resources Partners will post $2.85 earnings per share for the current fiscal year.
NGLS has been the subject of a number of recent research reports. Analysts at Raymond James raised their price target on shares of Targa Resources Partners from $62.00 to $71.00 in a research note on Tuesday, August 5th. Separately, analysts at Global Hunter Securities raised their price target on shares of Targa Resources Partners from $74.00 to $75.00 in a research note on Tuesday, August 5th. Finally, analysts at Stifel Nicolaus raised their price target on shares of Targa Resources Partners from $64.00 to $70.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).
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