Targa Resources, Inc. (NYSE:TRGP) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the company. Citigroup Inc. lowered their price target on Targa Resources from $64.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, June 28th. Stifel Nicolaus set a $63.00 price target on Targa Resources and gave the company a “buy” rating in a research report on Monday, June 26th. UBS AG reaffirmed a “buy” rating and issued a $59.00 price target (down from $62.00) on shares of Targa Resources in a research report on Thursday, June 22nd. Jefferies Group LLC raised Targa Resources from a “hold” rating to a “buy” rating and lowered their price target for the company from $54.00 to $50.00 in a research report on Wednesday, July 12th. Finally, Guggenheim raised Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $54.33.

Targa Resources (NYSE TRGP) opened at 46.93 on Friday. The stock’s market cap is $10.12 billion. Targa Resources has a one year low of $40.25 and a one year high of $61.83. The company has a 50-day moving average price of $44.85 and a 200-day moving average price of $49.50.

COPYRIGHT VIOLATION NOTICE: “Targa Resources, Inc. (TRGP) Stock Rating Upgraded by BidaskClub” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.americanbankingnews.com/2017/09/16/targa-resources-inc-trgp-stock-rating-upgraded-by-bidaskclub.html.

In related news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $44.70, for a total value of $93,870.00. Following the completion of the transaction, the insider now owns 50,853 shares in the company, valued at approximately $2,273,129.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.93% of the company’s stock.

Several institutional investors have recently modified their holdings of TRGP. Capstone Asset Management Co. bought a new stake in shares of Targa Resources during the 1st quarter valued at $254,000. Strs Ohio raised its position in shares of Targa Resources by 4.8% during the 1st quarter. Strs Ohio now owns 13,314 shares of the pipeline company’s stock valued at $797,000 after acquiring an additional 608 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Targa Resources by 173.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 11,498 shares of the pipeline company’s stock valued at $709,000 after acquiring an additional 7,298 shares during the last quarter. US Bancorp DE raised its position in shares of Targa Resources by 158.1% during the 1st quarter. US Bancorp DE now owns 11,246 shares of the pipeline company’s stock valued at $673,000 after acquiring an additional 6,889 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Targa Resources by 97.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 36,170 shares of the pipeline company’s stock valued at $2,167,000 after acquiring an additional 17,830 shares during the last quarter. Institutional investors own 87.85% of the company’s stock.

About Targa Resources

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.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.