Robert W. Baird reiterated their buy rating on shares of Targa Resources (NYSE:TRGP) in a research report released on Monday morning. Robert W. Baird currently has a $58.00 target price on the pipeline company’s stock.
TRGP has been the subject of several other research reports. Deutsche Bank started coverage on shares of Targa Resources in a research report on Thursday, April 19th. They issued a hold rating and a $50.00 price objective for the company. Bank of America assumed coverage on shares of Targa Resources in a research report on Tuesday, January 9th. They issued a neutral rating for the company. ValuEngine cut shares of Targa Resources from a hold rating to a sell rating in a research report on Friday, February 2nd. Citigroup lifted their price target 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. Finally, Seaport Global Securities set a $52.00 price target on shares of Targa Resources and gave the stock a buy rating in a research report on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Targa Resources has an average rating of Buy and a consensus price target of $54.19.
TRGP opened at $46.75 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $10,501.67, a price-to-earnings ratio of -108.72 and a beta of 1.98. Targa Resources has a 1-year low of $39.59 and a 1-year high of $57.78.
Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.30 billion. Targa Resources had a net margin of 0.61% and a return on equity of 3.53%. equities research analysts forecast that Targa Resources will post -0.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date of this dividend is Monday, April 30th. Targa Resources’s dividend payout ratio is currently -846.51%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. James Hambro & Partners acquired a new position in Targa Resources during the fourth quarter valued at approximately $111,000. SeaCrest Wealth Management LLC acquired a new position in Targa Resources during the fourth quarter valued at approximately $111,000. Searle & CO. acquired a new position in Targa Resources during the fourth quarter valued at approximately $200,000. Quadrant Private Wealth Management LLC acquired a new position in Targa Resources during the fourth quarter valued at approximately $203,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Targa Resources during the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.
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Targa Resources Company Profile
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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