Targa Resources Corp (TRGP) Receives $54.65 Consensus PT from Analysts

Shares of Targa Resources Corp (NYSE:TRGP) have been assigned a consensus rating of “Hold” from the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $54.65.

TRGP has been the topic of several research reports. BMO Capital Markets set a $51.00 price objective on shares of Targa Resources and gave the stock a “hold” rating in a research report on Friday, October 13th. Citigroup lowered shares of Targa Resources from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $54.00 to $52.00 in a research report on Tuesday, October 10th. TheStreet lowered shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. Wells Fargo & Company lowered their price objective on shares of Targa Resources from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Targa Resources in a research report on Monday, August 21st.

In related news, VP John Richard Klein sold 2,292 shares of the company’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 transaction of $95,920.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.93% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in 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 acquiring an additional 524 shares during the period. Ffcm LLC grew its stake in Targa Resources by 237.0% in the 2nd quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock worth $122,000 after buying an additional 1,910 shares in the last quarter. Penserra Capital Management LLC grew its stake in Targa Resources by 20.6% in the 2nd quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock worth $192,000 after buying an additional 726 shares in the last quarter. Guyasuta Investment Advisors Inc. purchased a new position in Targa Resources in the 3rd quarter worth approximately $206,000. Finally, HITE Hedge Asset Management LLC purchased a new position in Targa Resources in the 3rd quarter worth approximately $208,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources (NYSE TRGP) traded down $0.64 during trading on Thursday, reaching $46.36. 2,970,000 shares of the company traded hands, compared to its average volume of 1,840,000. Targa Resources has a 1-year low of $39.59 and a 1-year high of $61.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74.

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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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