Targa Resources Corp (NYSE:TRGP) has received a consensus rating of “Hold” from the sixteen analysts that are covering the firm. Ten equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $48.00.

Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Targa Resources Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Goldman Sachs Group Inc. raised shares of Targa Resources Corp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $52.00 in a research note on Monday. Evercore ISI began coverage on shares of Targa Resources Corp in a research note on Thursday, September 15th. They set a “hold” rating and a $45.00 price objective for the company. Stifel Nicolaus raised shares of Targa Resources Corp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.51 to $43.00 in a research note on Thursday, August 4th. They noted that the move was a valuation call. Finally, Jefferies Group cut shares of Targa Resources Corp from a “buy” rating to a “hold” rating and boosted their price objective for the company from $34.00 to $45.00 in a research note on Wednesday, June 8th.

In related news, insider Jeffrey J. Mcparland sold 25,100 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $45.50, for a total transaction of $1,142,050.00. Following the completion of the sale, the insider now directly owns 145,983 shares in the company, valued at approximately $6,642,226.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey J. Mcparland sold 3,700 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $45.13, for a total transaction of $166,981.00. Following the sale, the insider now owns 145,983 shares of the company’s stock, valued at $6,588,212.79. The disclosure for this sale can be found here.

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Large investors have recently bought and sold shares of the stock. Bollard Group LLC raised its position in shares of Targa Resources Corp by 1.3% in the second quarter. Bollard Group LLC now owns 2,418 shares of the company’s stock valued at $102,000 after buying an additional 31 shares during the period. Benedict Financial Advisors Inc. raised its position in shares of Targa Resources Corp by 0.5% in the second quarter. Benedict Financial Advisors Inc. now owns 10,002 shares of the company’s stock valued at $427,000 after buying an additional 49 shares during the period. Amalgamated Bank raised its position in shares of Targa Resources Corp by 0.4% in the second quarter. Amalgamated Bank now owns 18,878 shares of the company’s stock valued at $798,000 after buying an additional 66 shares during the period. Sanders Morris Harris Inc. raised its position in shares of Targa Resources Corp by 1.2% in the second quarter. Sanders Morris Harris Inc. now owns 14,471 shares of the company’s stock valued at $610,000 after buying an additional 166 shares during the period. Finally, Signaturefd LLC raised its position in shares of Targa Resources Corp by 1.1% in the second quarter. Signaturefd LLC now owns 24,510 shares of the company’s stock valued at $1,033,000 after buying an additional 269 shares during the period.

Shares of Targa Resources Corp (NYSE:TRGP) traded up 2.56% during midday trading on Wednesday, hitting $48.52. 1,692,865 shares of the stock were exchanged. The stock’s market capitalization is $8.08 billion. The firm’s 50 day moving average is $43.84 and its 200-day moving average is $39.27. Targa Resources Corp has a 1-year low of $14.55 and a 1-year high of $66.87.

Targa Resources Corp (NYSE:TRGP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.07. On average, analysts predict that Targa Resources Corp will post ($0.36) EPS for the current year.

About Targa Resources Corp

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products.

5 Day Chart for NYSE:TRGP

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