Targa Resources Corp Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:TRGP)
Shares of Targa Resources Corp (NASDAQ:TRGP) have been given a consensus rating of “Buy” by the fourteen ratings firms that are presently covering the company, American Banking and Market News reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $127.55.
Shares of Targa Resources Corp (NASDAQ:TRGP) opened at 139.55 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 $117.2. The company has a market cap of $5.883 billion and a P/E ratio of 70.72.
Targa Resources Corp (NASDAQ:TRGP) last released its earnings data on Friday, August 1st. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters 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 $2.69 EPS for the current fiscal year.
TRGP has been the subject of a number of recent research reports. 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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