Research Analysts’ Weekly Ratings Updates for Targa Resources (TRGP)

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Several analysts have recently updated their ratings and price targets for Targa Resources (NYSE: TRGP):

  • 8/17/2018 – Targa Resources was given a new $56.00 price target on by analysts at SunTrust Banks, Inc.. They now have a “hold” rating on the stock.
  • 8/17/2018 – Targa Resources had its price target raised by analysts at Morgan Stanley from $51.00 to $55.00. They now have an “equal weight” rating on the stock.
  • 8/15/2018 – Targa Resources was given a new $62.00 price target on by analysts at Robert W. Baird. They now have a “buy” rating on the stock.
  • 8/15/2018 – Targa Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $59.00 price target on the stock. According to Zacks, “Targa Resources Corp owns general and limited partner interests in Targa Resources Partners LP, engaged in providing midstream natural gas and natural gas liquid services in the United States. The Company operates its business through two business segments: Natural Gas Gathering and Processing and NGL Logistics and Marketing. The Natural Gas Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting natural gas liquids and removing impurities. NGL Logistics and Marketing segment is engaged in gathering and storing; fractionating, storing, and transporting of finished NGLs. Targa also markets the natural gas liquids produced and purchased in selected United States markets. The Company also offers refinery services and wholesale propane marketing operations. Targa Resources Corp is headquartered in Houston, Texas. “
  • 8/13/2018 – Targa Resources had its “buy” rating reaffirmed by analysts at Raymond James.
  • 8/10/2018 – Targa Resources had its price target raised by analysts at Royal Bank of Canada from $60.00 to $62.00. They now have an “outperform” rating on the stock.
  • 8/10/2018 – Targa Resources had its price target raised by analysts at UBS Group AG from $60.00 to $61.00. They now have a “buy” rating on the stock.
  • 8/10/2018 – Targa Resources had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $57.00 price target on the stock, up previously from $53.00.
  • 7/31/2018 – Targa Resources had its price target raised by analysts at Citigroup Inc from $55.00 to $56.00. They now have a “buy” rating on the stock.
  • 7/28/2018 – Targa Resources was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/27/2018 – Targa Resources was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating. They now have a $55.00 price target on the stock, up previously from $53.00.
  • 7/18/2018 – Targa Resources had its “$51.76” rating reaffirmed by analysts at Jefferies Financial Group Inc. They now have a $55.00 price target on the stock.
  • 7/17/2018 – Targa Resources had its “hold” rating reaffirmed by analysts at US Capital Advisors.
  • 7/16/2018 – Targa Resources is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
  • 7/14/2018 – Targa Resources was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/13/2018 – Targa Resources had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $54.00 price target on the stock.
  • 7/12/2018 – Targa Resources is now covered by analysts at SunTrust Banks, Inc.. They set a “hold” rating and a $53.00 price target on the stock.

NYSE:TRGP opened at $53.92 on Monday. Targa Resources Corp has a one year low of $39.59 and a one year high of $54.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.64 and a current ratio of 0.73. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of -125.40 and a beta of 2.02.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 1st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend was Tuesday, July 31st. Targa Resources’s payout ratio is -846.51%.

In other Targa Resources news, CAO John Richard Klein sold 2,092 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $53.52, for a total value of $111,963.84. Following the completion of the transaction, the chief accounting officer now owns 24,972 shares in the company, valued at $1,336,501.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.76% of the company’s stock.

Several institutional investors have recently modified their holdings of TRGP. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Targa Resources in the first quarter worth about $103,000. James Hambro & Partners acquired a new position in shares of Targa Resources in the second quarter worth about $113,000. Proficio Capital Partners LLC raised its position in shares of Targa Resources by 121.0% in the second quarter. Proficio Capital Partners LLC now owns 2,276 shares of the pipeline company’s stock worth $113,000 after acquiring an additional 1,246 shares during the period. Sit Investment Associates Inc. acquired a new position in shares of Targa Resources during the 2nd quarter worth about $127,000. Finally, Texas Yale Capital Corp. acquired a new position in shares of Targa Resources during the 2nd quarter worth about $202,000. Institutional investors and hedge funds own 92.50% of the company’s stock.

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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