Targa Resources’ (TRGP) “Neutral” Rating Reaffirmed at Robert W. Baird

Targa Resources (NYSE:TRGP)‘s stock had its “neutral” rating reissued by Robert W. Baird in a report released on Thursday, March 15th, Stock Target Advisor reports.

TRGP has been the topic of a number of other research reports. ValuEngine lowered shares of Targa Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and issued a $55.00 target price on shares of Targa Resources in a research report on Friday, February 16th. Credit Suisse Group assumed coverage on shares of Targa Resources in a research report on Thursday, January 4th. They issued a “neutral” rating and a $46.00 target price on the stock. Bank of America assumed coverage on shares of Targa Resources in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Citigroup raised their target price on shares of Targa Resources from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $54.76.

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Shares of NYSE TRGP traded down $0.27 during trading hours on Thursday, hitting $44.95. 2,271,085 shares of the stock were exchanged, compared to its average volume of 2,277,259. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $9,895.51, a price-to-earnings ratio of -104.53 and a beta of 1.98. Targa Resources has a 1-year low of $39.59 and a 1-year high of $60.06.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). Targa Resources had a return on equity of 3.53% and a net margin of 0.61%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.30 billion. equities research analysts forecast that Targa Resources will post -0.02 earnings per share for the current year.

Several large investors have recently modified their holdings of TRGP. The Manufacturers Life Insurance Company lifted its holdings in shares of Targa Resources by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,723 shares of the pipeline company’s stock worth $395,000 after purchasing an additional 990 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Targa Resources by 26.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 166,184 shares of the pipeline company’s stock worth $7,860,000 after purchasing an additional 35,136 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Targa Resources during the third quarter worth $224,000. Sei Investments Co. lifted its holdings in shares of Targa Resources by 9.0% during the third quarter. Sei Investments Co. now owns 54,334 shares of the pipeline company’s stock worth $2,570,000 after purchasing an additional 4,494 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Targa Resources by 34.5% during the third quarter. CIBC Asset Management Inc now owns 8,564 shares of the pipeline company’s stock worth $405,000 after purchasing an additional 2,195 shares during the period. Institutional investors own 90.10% of the company’s stock.

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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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