Shares of Targa Resources Corp (NYSE:TRGP) have been assigned an average rating of “Buy” from the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $54.27.
Several research analysts have recently weighed in on the stock. Evercore ISI lowered shares of DHT from an “outperform” rating to an “in-line” rating and set a $5.17 price objective on the stock. in a research note on Wednesday, April 24th. Credit Suisse Group set a $230.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research note on Friday, April 5th. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Raymond James assumed coverage on shares of Solar Capital in a research note on Tuesday, April 16th. They set an “outperform” rating and a $22.50 price objective on the stock. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Targa Resources in a research note on Monday, April 8th. They set a “neutral” rating and a $50.00 price objective on the stock.
In other Targa Resources news, Director Robert B. Evans bought 51,420 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $39.38 per share, for a total transaction of $2,024,919.60. Following the transaction, the director now directly owns 38,506 shares in the company, valued at approximately $1,516,366.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.86% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Cerebellum GP LLC acquired a new position in shares of Targa Resources during the 1st quarter worth approximately $27,000. Claybrook Capital LLC acquired a new position in shares of Targa Resources during the 4th quarter worth approximately $25,000. Arlington Partners LLC acquired a new position in shares of Targa Resources during the 2nd quarter worth approximately $29,000. Strategy Asset Managers LLC acquired a new position in shares of Targa Resources during the 1st quarter worth approximately $36,000. Finally, Valeo Financial Advisors LLC grew its position in shares of Targa Resources by 105.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.
NYSE:TRGP traded down $0.04 on Friday, hitting $41.83. 58,149 shares of the company’s stock were exchanged, compared to its average volume of 1,946,558. The business has a 50-day simple moving average of $38.98. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.48 and a current ratio of 0.58. Targa Resources has a 52 week low of $33.55 and a 52 week high of $59.21. The stock has a market capitalization of $9.76 billion, a P/E ratio of 209.50 and a beta of 1.77.
Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.44 billion. Targa Resources had a positive return on equity of 1.45% and a negative net margin of 0.58%. Research analysts anticipate that Targa Resources will post -0.68 earnings per share for the current year.
About Targa Resources
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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