Stock analysts at Credit Suisse Group began coverage on shares of Targa Resources (NYSE:TRGP) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $46.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective indicates a potential downside of 5.06% from the stock’s current price.
A number of other research analysts also recently weighed in on the company. Citigroup downgraded Targa Resources from a “buy” rating to a “neutral” rating and cut their price objective for the company from $54.00 to $52.00 in a research note on Tuesday, October 10th. Zacks Investment Research raised Targa Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. TheStreet downgraded Targa Resources from a “c-” rating to a “d+” rating in a research note on Monday, November 13th. BidaskClub raised Targa Resources from a “hold” rating to a “buy” rating in a research note on Saturday, September 16th. Finally, Robert W. Baird reissued a “buy” rating and issued a $53.00 price objective on shares of Targa Resources in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.89.
Shares of Targa Resources (TRGP) traded down $1.92 during mid-day trading on Thursday, hitting $48.45. The company had a trading volume of 3,131,172 shares, compared to its average volume of 1,715,001. 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 1-year low of $39.59 and a 1-year high of $61.83. The company has a market cap of $10,447.42, a P/E ratio of -18.21 and a beta of 2.22.
A number of hedge funds and other institutional investors have recently modified their holdings of TRGP. Van ECK Associates Corp grew its holdings 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 purchasing an additional 524 shares in the last quarter. Ffcm LLC grew its holdings in shares of Targa Resources by 237.0% during the 2nd quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 1,910 shares in the last quarter. Guyasuta Investment Advisors Inc. acquired a new stake in shares of Targa Resources during the 3rd quarter worth approximately $206,000. Pacer Advisors Inc. grew its holdings in shares of Targa Resources by 28.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,587 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 1,017 shares in the last quarter. Finally, QCM Cayman Ltd. acquired a new stake in shares of Targa Resources during the 2nd quarter worth approximately $207,000. 87.43% of the stock is currently owned by institutional investors.
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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.
