Shares of Targa Resources Corp (NYSE:TRGP) have earned a consensus rating of “Hold” from the twenty-two ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $54.18.

TRGP has been the topic of a number of analyst reports. Citigroup lowered shares of Targa Resources from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $54.00 to $52.00 in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. TheStreet lowered shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. BidaskClub raised shares of Targa Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 16th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $53.00 price target on shares of Targa Resources in a research note on Friday, November 3rd.

In other news, VP John Richard Klein sold 2,292 shares of Targa Resources stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.93% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of TRGP. CNH Partners LLC raised its position in shares of Targa Resources by 0.5% during the 2nd quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock worth $981,000 after buying an additional 100 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Targa Resources by 2.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after buying an additional 155 shares in the last quarter. Profund Advisors LLC raised its position in shares of Targa Resources by 3.6% during the 2nd quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after buying an additional 317 shares in the last quarter. Frontier Wealth Management LLC raised its position in shares of Targa Resources by 6.2% during the 2nd quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock worth $266,000 after buying an additional 344 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Targa Resources by 24.0% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Shares of Targa Resources (NYSE:TRGP) traded down $1.92 on Monday, reaching $48.45. 3,137,100 shares of the company’s stock traded hands, compared to its average volume of 2,543,450. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67. Targa Resources has a one year low of $39.59 and a one year high of $61.83. The firm has a market capitalization of $10,480.00, a price-to-earnings ratio of -19.07 and a beta of 2.22.

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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)

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