Guggenheim set a $50.00 target price on Targa Resources (NYSE:TRGP) in a report published on Monday morning. The firm currently has a buy rating on the pipeline company’s stock.
TRGP has been the topic of a number of other research reports. Bank of America started coverage on shares of Targa Resources in a research report on Tuesday, January 9th. They set a neutral rating on the stock. ValuEngine cut shares of Targa Resources from a hold rating to a sell rating in a research report on Friday, February 2nd. Citigroup increased their price objective on shares of Targa Resources from $52.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. TheStreet raised shares of Targa Resources from a d+ rating to a c rating in a research report on Monday, March 19th. Finally, Robert W. Baird reissued a neutral rating on shares of Targa Resources in a research report on Thursday, March 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $54.76.
TRGP stock opened at $46.64 on Monday. The stock has a market cap of $9,891.13, a PE ratio of -108.47 and a beta of 1.98. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70. Targa Resources has a 1 year low of $39.59 and a 1 year high of $58.57.
Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.30 billion. Targa Resources had a return on equity of 3.53% and a net margin of 0.61%. sell-side analysts expect that Targa Resources will post 0.02 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Grassi Investment Management lifted its position in Targa Resources by 3.0% in the 4th quarter. Grassi Investment Management now owns 35,411 shares of the pipeline company’s stock valued at $1,715,000 after acquiring an additional 1,016 shares in the last quarter. IFP Advisors Inc lifted its position in Targa Resources by 6.5% in the 4th quarter. IFP Advisors Inc now owns 18,968 shares of the pipeline company’s stock valued at $918,000 after acquiring an additional 1,152 shares in the last quarter. Raymond James Trust N.A. lifted its position in Targa Resources by 21.5% in the 4th quarter. Raymond James Trust N.A. now owns 7,321 shares of the pipeline company’s stock valued at $354,000 after acquiring an additional 1,295 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in Targa Resources by 3.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 37,529 shares of the pipeline company’s stock valued at $1,817,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Targa Resources by 10.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,551 shares of the pipeline company’s stock valued at $753,000 after acquiring an additional 1,464 shares in the last quarter. 90.13% of the stock is currently owned by institutional investors and hedge funds.
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About Targa Resources
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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