Shares of Targa Resources Corp (NYSE:TRGP) have been assigned an average rating of “Hold” from the nineteen brokerages that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $54.08.
Several research firms have weighed in on TRGP. Robert W. Baird set a $60.00 price objective on shares of Targa Resources and gave the stock a “buy” rating in a report on Wednesday, March 14th. ValuEngine upgraded shares of Targa Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 26th. Barclays downgraded shares of Targa Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $57.00 to $52.00 in a report on Tuesday, June 12th. Seaport Global Securities set a $53.00 price objective on shares of Targa Resources and gave the stock a “buy” rating in a report on Tuesday, April 24th. Finally, Deutsche Bank began coverage on shares of Targa Resources in a report on Thursday, April 19th. They set a “hold” rating and a $50.00 price objective on the stock.
Several hedge funds have recently made changes to their positions in TRGP. American International Group Inc. purchased a new stake in shares of Targa Resources in the fourth quarter valued at about $215,000. Brown Advisory Inc. increased its holdings in Targa Resources by 292.1% during the fourth quarter. Brown Advisory Inc. now owns 20,469 shares of the pipeline company’s stock worth $992,000 after buying an additional 15,249 shares during the last quarter. Amalgamated Bank increased its holdings in Targa Resources by 6.3% during the fourth quarter. Amalgamated Bank now owns 40,731 shares of the pipeline company’s stock worth $1,972,000 after buying an additional 2,431 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Targa Resources by 88.0% during the fourth quarter. Allianz Asset Management GmbH now owns 297,335 shares of the pipeline company’s stock worth $14,397,000 after buying an additional 139,208 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in Targa Resources during the fourth quarter worth about $3,516,000. Institutional investors own 92.84% of the company’s stock.
Targa Resources traded down $1.22, hitting $48.27, during trading on Monday, according to Marketbeat. 2,352,800 shares of the company’s stock were exchanged, compared to its average volume of 2,126,812. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.73. Targa Resources has a fifty-two week low of $39.59 and a fifty-two week high of $52.08. The company has a market cap of $10.83 billion, a price-to-earnings ratio of -112.26 and a beta of 2.01.
Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, May 3rd. The pipeline company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). Targa Resources had a return on equity of 0.88% and a net margin of 1.82%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.70 billion. equities analysts forecast that Targa Resources will post -0.16 earnings per share for the current fiscal year.
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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