Targa Resources (NYSE:TRGP)‘s stock had its “buy” rating restated by research analysts at Royal Bank of Canada in a report issued on Tuesday. They currently have a $60.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 18.23% from the company’s current price.

TRGP has been the subject of several other research reports. Bank of America assumed coverage on shares of Targa Resources in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. BidaskClub cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group cut shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Stifel Nicolaus cut their price objective on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, November 20th. Finally, Goldman Sachs Group cut shares of Targa Resources from a “buy” rating to a “neutral” rating and set a $53.00 price objective for the company. in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.89.

Targa Resources (NYSE:TRGP) traded down $0.69 during mid-day trading on Tuesday, hitting $50.75. 2,925,850 shares of the company traded hands, compared to its average volume of 2,083,600. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57. Targa Resources has a fifty-two week low of $39.59 and a fifty-two week high of $61.83. The firm has a market capitalization of $11,150.00, a P/E ratio of -19.98 and a beta of 2.22.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Friday, November 3rd. The pipeline company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.05). Targa Resources had a negative net margin of 4.68% and a negative return on equity of 0.52%. equities research analysts anticipate that Targa Resources will post -1.46 earnings per share for the current fiscal year.

In other news, VP John Richard Klein sold 2,292 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.93% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TRGP. Oppenheimer Asset Management Inc. raised its holdings in Targa Resources by 13.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,279 shares of the pipeline company’s stock valued at $284,000 after buying an additional 724 shares during the last quarter. JPMorgan Chase & Co. increased its position in Targa Resources by 65.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 207,920 shares of the pipeline company’s stock valued at $9,398,000 after purchasing an additional 81,927 shares during the period. Franklin Resources Inc. increased its position in Targa Resources by 23.1% during the 2nd quarter. Franklin Resources Inc. now owns 185,620 shares of the pipeline company’s stock valued at $8,390,000 after purchasing an additional 34,790 shares during the period. AXA increased its position in Targa Resources by 94.8% during the 2nd quarter. AXA now owns 9,647 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 4,696 shares during the period. Finally, Alliancebernstein L.P. increased its position in Targa Resources by 9.3% during the 2nd quarter. Alliancebernstein L.P. now owns 126,941 shares of the pipeline company’s stock valued at $5,738,000 after purchasing an additional 10,851 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.

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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.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

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