Deutsche Bank assumed coverage on shares of Targa Resources (NYSE:TRGP) in a report published on Thursday morning. The brokerage issued a hold rating and a $50.00 target price on the pipeline company’s stock.
Other research analysts have also issued reports about the company. Barclays decreased their target price on Targa Resources from $58.00 to $57.00 and set an overweight rating on the stock in a report on Tuesday, April 17th. Robert W. Baird set a $60.00 target price on Targa Resources and gave the stock a buy rating in a report on Wednesday, March 14th. Goldman Sachs raised Targa Resources from a neutral rating to a buy rating and set a $68.00 target price on the stock in a report on Thursday, February 1st. Guggenheim set a $50.00 target price on Targa Resources and gave the stock a buy rating in a report on Monday, April 16th. Finally, Royal Bank of Canada reissued a buy rating and set a $60.00 target price on shares of Targa Resources in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $54.25.
NYSE:TRGP opened at $47.59 on Thursday. The company has a market cap of $10,322.23, a price-to-earnings ratio of -110.67 and a beta of 1.98. Targa Resources has a twelve month low of $39.59 and a twelve month high of $57.78. 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 (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.30 billion. Targa Resources had a return on equity of 3.53% and a net margin of 0.61%. research analysts forecast that Targa Resources will post 0.01 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be given a dividend of $0.91 per share. The ex-dividend date is Monday, April 30th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.65%. Targa Resources’s payout ratio is -846.51%.
Large investors have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at $111,000. James Hambro & Partners bought a new stake in shares of Targa Resources during the 4th quarter valued at $111,000. Searle & CO. bought a new stake in shares of Targa Resources during the 4th quarter valued at $200,000. Quadrant Private Wealth Management LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at $203,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of Targa Resources during the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.
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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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