Targa Resources, Inc. (TRGP) Raised to Hold at BidaskClub
Targa Resources, Inc. (NYSE:TRGP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
TRGP has been the subject of several other reports. ValuEngine raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 target price (down from $50.00) on shares of Targa Resources in a research report on Friday, September 1st. Barclays PLC reaffirmed a “hold” rating and issued a $50.00 target price on shares of Targa Resources in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank Of Canada dropped their target price on shares of Targa Resources from $67.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources presently has a consensus rating of “Buy” and a consensus target price of $54.67.
Targa Resources (TRGP) traded up $1.07 during trading hours on Friday, hitting $43.89. 2,419,242 shares of the stock traded hands, compared to its average volume of 1,954,303. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.66 and a quick ratio of 0.51.
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In other news, insider Dan C. Middlebrooks sold 2,100 shares of Targa Resources 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 sale, the insider now directly owns 50,853 shares in the company, valued at $2,273,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.93% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in TRGP. Shine Investment Advisory Services Inc. bought a new stake in shares of Targa Resources in the second quarter worth approximately $105,000. Bollard Group LLC grew its stake in shares of Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after acquiring an additional 27 shares during the period. Ffcm LLC grew its stake in shares of Targa Resources by 237.0% in the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after acquiring an additional 1,910 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after buying an additional 524 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Targa Resources by 20.6% in the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after buying an additional 726 shares during the last quarter. Hedge funds and other institutional investors own 87.47% 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.
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