Targa Resources, Inc. (NYSE:TRGP) Raised to Hold at ValuEngine
Targa Resources, Inc. (NYSE:TRGP) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other research firms have also recently commented on TRGP. Barclays PLC cut Targa Resources from an “overweight” rating to an “equal weight” rating in a report on Tuesday. BMO Capital Markets reissued a “hold” rating and set a $51.00 price target on shares of Targa Resources in a report on Wednesday, July 12th. Credit Suisse Group set a $56.00 price target on Targa Resources and gave the stock a “neutral” rating in a report on Friday, May 5th. Wells Fargo & Company raised Targa Resources from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Macquarie began coverage on Targa Resources in a report on Friday, April 21st. They set an “outperform” rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $54.58.
Shares of Targa Resources (NYSE:TRGP) traded up 1.59% during mid-day trading on Wednesday, hitting $46.65. The stock had a trading volume of 1,280,169 shares. The firm’s market cap is $9.24 billion. Targa Resources has a 52 week low of $35.35 and a 52 week high of $61.83. The stock has a 50 day moving average price of $44.32 and a 200 day moving average price of $53.36.
Large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Targa Resources by 29.1% in the first quarter. Van ECK Associates Corp now owns 2,181 shares of the pipeline company’s stock valued at $131,000 after buying an additional 491 shares during the last quarter. Bollard Group LLC raised its stake in shares of Targa Resources by 1.3% in the second quarter. Bollard Group LLC now owns 2,418 shares of the pipeline company’s stock valued at $102,000 after buying an additional 31 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Targa Resources by 1,288.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,485 shares of the pipeline company’s stock valued at $122,000 after buying an additional 2,306 shares during the last quarter. Fayez Sarofim & Co acquired a new stake in shares of Targa Resources during the first quarter valued at approximately $204,000. Finally, Penserra Capital Management LLC raised its stake in shares of Targa Resources by 53.4% in the first quarter. Penserra Capital Management LLC now owns 3,529 shares of the pipeline company’s stock valued at $211,000 after buying an additional 1,228 shares during the last quarter. Institutional investors own 79.94% of the company’s stock.
Targa Resources Company Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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