Shares of Targa Resources Corp (NYSE:TRGP) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $38.97 and traded as high as $42.28. Targa Resources shares last traded at $42.24, with a volume of 72,011 shares trading hands.
Several equities research analysts have recently weighed in on the company. Raymond James assumed coverage on Solar Capital in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $22.50 price objective for the company. ValuEngine cut Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Credit Suisse Group set a $230.00 price objective on Constellation Brands and gave the company a “buy” rating in a research report on Friday, April 5th. SunTrust Banks assumed coverage on Corteva in a research report on Monday, June 3rd. They issued a “hold” rating and a $29.00 price objective for the company. Finally, Mitsubishi UFJ Financial Group assumed coverage on Targa Resources in a research report on Monday, April 8th. They issued a “neutral” rating and a $50.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.05.
The stock has a market capitalization of $9.51 billion, a PE ratio of 209.35 and a beta of 1.78. The stock has a 50-day simple moving average of $38.98. The company has a quick ratio of 0.48, a current ratio of 0.58 and a debt-to-equity ratio of 0.97.
Targa Resources (NYSE:TRGP) last issued its earnings results on Wednesday, May 8th. The pipeline company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.16). The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.44 billion. Targa Resources had a positive return on equity of 1.45% and a negative net margin of 0.58%. Research analysts anticipate that Targa Resources Corp will post -0.68 EPS for the current fiscal year.
In other news, Director Robert B. Evans bought 51,420 shares of Targa Resources stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $39.38 per share, with a total value of $2,024,919.60. Following the completion of the transaction, the director now directly owns 38,506 shares in the company, valued at $1,516,366.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.86% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Claybrook Capital LLC bought a new position in shares of Targa Resources during the fourth quarter valued at $25,000. Cerebellum GP LLC bought a new position in shares of Targa Resources during the first quarter valued at $27,000. Arlington Partners LLC bought a new position in shares of Targa Resources during the second quarter valued at $29,000. Strategy Asset Managers LLC bought a new position in shares of Targa Resources during the first quarter valued at $36,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Targa Resources by 105.3% during the second quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 495 shares during the period. 91.15% of the stock is owned by institutional investors.
About Targa Resources (NYSE:TRGP)
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, transporting, 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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