Targa Resources (TRGP) PT Set at $52.00 by Seaport Global Securities

Seaport Global Securities set a $52.00 price target on Targa Resources (NYSE:TRGP) in a report published on Wednesday. The firm currently has a buy rating on the pipeline company’s stock.

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group upgraded shares of Targa Resources from a neutral rating to a buy rating and set a $68.00 target price on the stock in a report on Thursday, February 1st. Credit Suisse Group assumed coverage on shares of Targa Resources in a report on Thursday, January 4th. They set a neutral rating and a $46.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of Targa Resources from $53.00 to $51.00 and set a buy rating on the stock in a report on Monday, November 20th. Citigroup upgraded shares of Targa Resources from a neutral rating to a buy rating and set a $52.00 target price on the stock in a report on Thursday, November 2nd. Finally, Royal Bank of Canada restated a buy rating and set a $60.00 target price on shares of Targa Resources in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $54.72.

Targa Resources (NYSE TRGP) opened at $48.20 on Wednesday. The firm has a market cap of $10,199.44, a price-to-earnings ratio of -17.97 and a beta of 2.07. Targa Resources has a 1-year low of $39.59 and a 1-year high of $60.62. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt-to-equity ratio of 0.67.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.64 dividend on an annualized basis and a yield of 7.55%. Targa Resources’s dividend payout ratio is currently -136.84%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Targa Resources by 2.5% in the 4th quarter. BlackRock Inc. now owns 12,035,357 shares of the pipeline company’s stock worth $582,754,000 after buying an additional 295,541 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Targa Resources by 13.6% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 7,321,661 shares of the pipeline company’s stock worth $354,502,000 after buying an additional 874,200 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Targa Resources by 3.5% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 6,958,912 shares of the pipeline company’s stock worth $329,157,000 after buying an additional 237,777 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Targa Resources by 32.0% in the 4th quarter. Bank of New York Mellon Corp now owns 5,334,439 shares of the pipeline company’s stock worth $258,294,000 after buying an additional 1,294,549 shares in the last quarter. Finally, Harvest Fund Advisors LLC lifted its holdings in Targa Resources by 40.8% in the 3rd quarter. Harvest Fund Advisors LLC now owns 4,990,690 shares of the pipeline company’s stock worth $236,060,000 after buying an additional 1,446,438 shares in the last quarter. Hedge funds and other institutional investors own 87.34% of the company’s stock.

WARNING: This piece was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2018/02/15/targa-resources-trgp-pt-set-at-52-00-by-seaport-global-securities.html.

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)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply