Shares of Targa Resources Corp. (NYSE: TRGP – Get Rating) have received an average rating of “Buy” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $ 77.00.
Several equities analysts recently commented on TRGP shares. Wells Fargo & Company dropped their target price on Targa Resources to $ 83.00 and set an “overweight” rating for the company in a research note on Friday, May 20th. Raymond James upped their price target on Targa Resources from $ 80.00 to $ 92.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 20th. Morgan Stanley upped their price target on Targa Resources from $ 74.00 to $ 103.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. StockNews.com lowered Targa Resources from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Finally, Mizuho upgraded Targa Resources from a “neutral” rating to a “buy” rating and upped their price target for the stock from $ 58.00 to $ 85.00 in a research note on Friday, March 18th.
Targa Resources stock opened at $ 58.15 on Tuesday. The firm has a market capitalization of $ 13.26 billion, a P / E ratio of -100.26 and a beta of 2.53. The stock has a fifty day moving average price of $ 71.87 and a 200 day moving average price of $ 65.58. Targa Resources has a 52 week low of $ 38.81 and a 52 week high of $ 81.50. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.73.
Targa Resources (NYSE: TRGP – Get Rating) last released its earnings results on Thursday, May 5th. The pipeline company reported $ 0.06 EPS for the quarter, missing the estimate consensus of $ 0.89 by ($ 0.83). The business had revenue of $ 4.96 billion during the quarter, compared to analyst estimates of $ 6.07 billion. Targa Resources had a negative net margin of 0.22% and a positive return on equity of 8.24%. During the same quarter in the previous year, the company posted $ 0.53 earnings per share. As a group, equities analysts predict that Targa Resources will post 4.02 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 29th were given a $ 0.35 dividend. This represents a $ 1.40 annualized dividend and a dividend yield of 2.41%. Targa Resources’s payout ratio is -241.38%.
In related news, Director Joe Bob Perkins sold 2,150 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $ 78.01, for a total value of $ 167,721.50. Following the completion of the transaction, the director now owns 213,868 shares of the company stock, valued at $ 16,683,842.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul W. Chung sold 3,568 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $ 73.34, for a total value of $ 261,677.12. Following the completion of the transaction, the director now directly owns 240,641 shares of the company stock, valued at approximately $ 17,648,610.94. The disclosure for this sale can be found here. Insiders sold 63,662 shares of company stock valued at $ 4,847,249 in the last ninety days. Company insiders own 1.10% of the company stock.
A number of large investors have recently added to or reduced their stakes in TRGP. Wellington Management Group LLP lifted its holdings in Targa Resources by 424.5% during the 1st quarter. Wellington Management Group LLP now owns 3,777,797 shares of the pipeline company stock worth $ 285,110,000 after buying an additional 3,057,486 shares during the last quarter. BlackRock Inc. raised its position in shares of Targa Resources by 7.3% during the 4th quarter. BlackRock Inc. now owns 21,959,815 shares of the pipeline company stock worth $ 1,147,183,000 after purchasing an additional 1,499,300 shares during the period. State Street Corp raised its position in shares of Targa Resources by 14.4% during the 1st quarter. State Street Corp now owns 7,836,957 shares of the pipeline company stock worth $ 591,455,000 after purchasing an additional 986,283 shares during the period. First Trust Advisors LP raised its position in shares of Targa Resources by 324.0% during the 4th quarter. First Trust Advisors LP now owns 1,205,000 shares of the pipeline company stock worth $ 62,949,000 after purchasing an additional 920,818 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Targa Resources by 126.3% during the 1st quarter. Bank of America Corp DE now owns 1,518,911 shares of the pipeline company stock worth $ 114,633,000 after purchasing an additional 847,667 shares during the period. 91.93% of the stock is currently owned by institutional investors.
Targa Resources Company Profile: (Get Rating)
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 Transportation. The company engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, purchasing, storing, terminaling, and selling crude oil.
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