Targa Resources’ (TRGP) “Buy” Rating Reaffirmed at Robert W. Baird
Targa Resources, Inc. (NYSE:TRGP)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research note issued to investors on Friday. They currently have a $53.00 price objective on the pipeline company’s stock. Robert W. Baird’s target price suggests a potential upside of 20.76% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. BidaskClub upgraded Targa Resources from a “sell” rating to a “hold” rating in a research report on Friday. Citigroup Inc upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday. Zacks Investment Research upgraded Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays PLC restated a “hold” rating and set a $50.00 target price on shares of Targa Resources in a research report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded Targa Resources from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.67.
Targa Resources (TRGP) traded up $1.88 during mid-day trading on Friday, hitting $43.89. The stock had a trading volume of 2,419,200 shares, compared to its average volume of 1,954,303. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.51 and a current ratio of 0.66.
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In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was 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 directly owns 50,853 shares of the company’s stock, valued at $2,273,129.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.93% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Shine Investment Advisory Services Inc. acquired a new position in Targa Resources in the second quarter valued at about $105,000. Bollard Group LLC grew its stake in Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after acquiring an additional 27 shares during the period. Van ECK Associates Corp grew its stake in Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after acquiring an additional 524 shares during the period. Ffcm LLC grew its stake in Targa Resources by 237.0% in the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock valued at $122,000 after acquiring an additional 1,910 shares during the period. Finally, Penserra Capital Management LLC grew its stake in Targa Resources by 20.6% in the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock valued at $192,000 after acquiring an additional 726 shares during the period. 87.47% of the stock is owned by hedge funds and other institutional investors.
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.
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