Targa Resources (NYSE:TRGP) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c” rating in a report issued on Monday.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price objective on shares of Targa Resources in a research note on Friday, February 16th. Seaport Global Securities set a $52.00 price objective on shares of Targa Resources and gave the company a “buy” rating in a research note on Wednesday, February 14th. Citigroup increased their price objective on shares of Targa Resources from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Goldman Sachs upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of Targa Resources in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $54.76.
Targa Resources stock opened at $46.43 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.79 and a quick ratio of 0.66. The company has a market cap of $10,101.21, a PE ratio of -94.75 and a beta of 2.05. Targa Resources has a one year low of $39.59 and a one year high of $60.62.
Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 15th. The pipeline company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.30 billion. Targa Resources had a negative return on equity of 1.24% and a net margin of 0.27%. sell-side analysts anticipate that Targa Resources will post -0.04 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Targa Resources by 10.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,551 shares of the pipeline company’s stock worth $753,000 after buying an additional 1,464 shares during the last quarter. Penbrook Management LLC purchased a new position in shares of Targa Resources in the fourth quarter worth $781,000. Xact Kapitalforvaltning AB raised its holdings in shares of Targa Resources by 11.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 22,064 shares of the pipeline company’s stock worth $1,068,000 after buying an additional 2,328 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Targa Resources by 12.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 87,178 shares of the pipeline company’s stock worth $4,221,000 after buying an additional 9,319 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Targa Resources in the fourth quarter worth $206,000. 90.10% of the stock is 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.
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