Targa Resources Corp (NYSE:TRGP) has been given a consensus recommendation of “Hold” by the nineteen research firms that are currently covering the company, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.08.
Several brokerages have recently commented on TRGP. Robert W. Baird set a $60.00 target price on shares of Targa Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. ValuEngine upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 26th. Barclays cut shares of Targa Resources from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $57.00 to $52.00 in a research report on Tuesday, June 12th. Seaport Global Securities set a $53.00 price objective on shares of Targa Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, Deutsche Bank began coverage on shares of Targa Resources in a research report on Thursday, April 19th. They set a “hold” rating and a $50.00 price objective for the company.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new position in Targa Resources in the 1st quarter valued at approximately $103,000. Pin Oak Investment Advisors Inc. acquired a new position in Targa Resources in the 4th quarter valued at approximately $206,000. IBM Retirement Fund acquired a new position in Targa Resources in the 1st quarter valued at approximately $206,000. American International Group Inc. acquired a new position in Targa Resources in the 4th quarter valued at approximately $215,000. Finally, TLP Group LLC increased its position in Targa Resources by 6,191.4% in the 1st quarter. TLP Group LLC now owns 5,096 shares of the pipeline company’s stock valued at $224,000 after acquiring an additional 5,015 shares during the period. Hedge funds and other institutional investors own 92.84% of the company’s stock.
Shares of Targa Resources traded down $1.22, hitting $48.27, during midday trading on Monday, Marketbeat Ratings reports. The stock had a trading volume of 2,352,800 shares, compared to its average volume of 2,126,812. The stock has a market capitalization of $10.83 billion, a PE ratio of -112.26 and a beta of 2.01. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73. Targa Resources has a fifty-two week low of $39.59 and a fifty-two week high of $52.08.
Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, May 3rd. The pipeline company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.70 billion. Targa Resources had a net margin of 1.82% and a return on equity of 0.88%. research analysts predict that Targa Resources will post -0.16 EPS for the current fiscal year.
Targa Resources Company Profile
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, 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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