Robert W. Baird Reaffirms “Buy” Rating for Targa Resources, Inc. (TRGP)
Targa Resources, Inc. (NYSE:TRGP)‘s stock had its “buy” rating reiterated by research analysts at Robert W. Baird in a note issued to investors on Sunday. They presently have a $53.00 price target on the pipeline company’s stock. Robert W. Baird’s price target would suggest a potential upside of 12.93% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. UBS AG reissued a “buy” rating and issued a $59.00 price objective (down from $62.00) on shares of Targa Resources in a research note on Thursday, June 22nd. Credit Suisse Group set a $54.00 price objective on shares of Targa Resources and gave the company a “hold” rating in a research note on Sunday, May 28th. BidaskClub raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus set a $63.00 price objective on shares of Targa Resources and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $53.00 price objective (down from $65.00) on shares of Targa Resources in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $54.39.
Targa Resources (NYSE:TRGP) opened at 46.93 on Friday. Targa Resources has a one year low of $40.25 and a one year high of $61.83. The firm’s market capitalization is $10.12 billion. The stock has a 50 day moving average price of $44.85 and a 200 day moving average price of $49.50.
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In other news, insider Dan C. Middlebrooks sold 2,100 shares of Targa Resources stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $44.70, for a total transaction of $93,870.00. Following the transaction, the insider now owns 50,853 shares in the company, valued at $2,273,129.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.93% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of TRGP. Shine Investment Advisory Services Inc. acquired a new position in shares of Targa Resources during the second quarter worth $105,000. Bollard Group LLC lifted its holdings in shares of Targa Resources by 1.1% during the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after purchasing an additional 27 shares during the period. Ffcm LLC lifted its holdings in shares of Targa Resources by 237.0% during the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 1,910 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Targa Resources by 24.0% during the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 524 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of Targa Resources by 20.6% during the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after purchasing an additional 726 shares during the period. Institutional investors own 87.85% 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.
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