Targa Resources (NYSE:TRGP) had its price objective boosted by research analysts at Citigroup from $52.00 to $55.00 in a report issued on Tuesday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Citigroup’s target price indicates a potential upside of 19.36% from the company’s previous close.
A number of other equities analysts also recently weighed in on TRGP. Goldman Sachs Group raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Thursday, February 1st. ValuEngine downgraded shares of Targa Resources from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus decreased their target price on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 20th. Jefferies Group downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded shares of Targa Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.33.
Shares of Targa Resources (NYSE TRGP) traded up $0.25 during midday trading on Tuesday, hitting $46.08. 272,223 shares of the company’s stock were exchanged, compared to its average volume of 1,868,807. Targa Resources has a fifty-two week low of $39.59 and a fifty-two week high of $61.83. The company has a market capitalization of $10,164.93, a P/E ratio of -17.32 and a beta of 2.07. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.
In related news, VP John Richard Klein sold 2,292 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.93% of the company’s stock.
A number of hedge funds have recently modified their holdings of TRGP. Harvest Fund Advisors LLC boosted its holdings in Targa Resources by 40.8% in the third quarter. Harvest Fund Advisors LLC now owns 4,990,690 shares of the pipeline company’s stock worth $236,060,000 after purchasing an additional 1,446,438 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Targa Resources by 4,386.0% in the second quarter. Janus Henderson Group PLC now owns 1,090,734 shares of the pipeline company’s stock worth $49,301,000 after purchasing an additional 1,066,420 shares during the last quarter. State Street Corp boosted its holdings in Targa Resources by 12.9% in the second quarter. State Street Corp now owns 4,295,711 shares of the pipeline company’s stock worth $194,165,000 after purchasing an additional 490,077 shares during the last quarter. Jennison Associates LLC boosted its holdings in Targa Resources by 14.8% in the fourth quarter. Jennison Associates LLC now owns 3,224,639 shares of the pipeline company’s stock worth $156,137,000 after purchasing an additional 416,015 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Targa Resources by 15.2% in the third quarter. Neuberger Berman Group LLC now owns 2,890,670 shares of the pipeline company’s stock worth $136,729,000 after purchasing an additional 381,000 shares during the last quarter. Institutional investors own 87.63% of the company’s stock.
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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.
