Targa Resources Partners Given Average Recommendation of “Hold” by Analysts (NASDAQ:NGLS)
Shares of Targa Resources Partners (NASDAQ:NGLS) have been given a consensus recommendation of “Hold” by the fourteen analysts that are covering the stock, StockRatingsNetwork reports. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $68.73.
Targa Resources Partners (NASDAQ:NGLS) opened at 74.40 on Thursday. Targa Resources Partners has a 1-year low of $47.57 and a 1-year high of $83.49. The stock has a 50-day moving average of $69.38 and a 200-day moving average of $63.54. The company has a market cap of $8.537 billion and a P/E ratio of 30.21.
Targa Resources Partners (NASDAQ:NGLS) last released its earnings data 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 $2.87 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on NGLS shares. 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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