Targa Resources Corp (NYSE:TRGP) has received a consensus rating of “Hold” from the twenty-four research firms that are covering the firm, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $55.63.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Barclays increased their target price on shares of Targa Resources from $52.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. SunTrust Banks set a $56.00 target price on shares of Targa Resources and gave the company a “hold” rating in a research report on Friday, August 17th. Morgan Stanley increased their target price on shares of Targa Resources from $51.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, August 17th. Finally, Robert W. Baird set a $62.00 target price on shares of Targa Resources and gave the company a “buy” rating in a research report on Wednesday, August 15th.

Shares of TRGP opened at $54.65 on Friday. Targa Resources has a twelve month low of $39.59 and a twelve month high of $56.42. The firm has a market capitalization of $12.53 billion, a PE ratio of -127.09 and a beta of 2.09. The company has a current ratio of 0.73, a quick ratio of 0.64 and a debt-to-equity ratio of 0.74.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 9th. The pipeline company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.40. Targa Resources had a net margin of 2.24% and a return on equity of 1.62%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. equities analysts expect that Targa Resources will post 0.27 EPS for the current year.

In other Targa Resources news, CAO John Richard Klein sold 2,092 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $53.52, for a total transaction of $111,963.84. Following the transaction, the chief accounting officer now directly owns 24,972 shares of the company’s stock, valued at approximately $1,336,501.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles R. Crisp sold 3,100 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $54.13, for a total transaction of $167,803.00. Following the transaction, the director now directly owns 120,105 shares in the company, valued at $6,501,283.65. The disclosure for this sale can be found here. Insiders have sold a total of 6,176 shares of company stock worth $334,507 over the last three months. 1.76% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of TRGP. Raymond James Trust N.A. boosted its holdings in shares of Targa Resources by 15.2% in the second quarter. Raymond James Trust N.A. now owns 8,591 shares of the pipeline company’s stock valued at $425,000 after acquiring an additional 1,135 shares in the last quarter. Sigma Planning Corp boosted its holdings in shares of Targa Resources by 16.1% in the second quarter. Sigma Planning Corp now owns 8,377 shares of the pipeline company’s stock valued at $415,000 after acquiring an additional 1,162 shares in the last quarter. KBC Group NV boosted its holdings in shares of Targa Resources by 0.8% in the second quarter. KBC Group NV now owns 144,457 shares of the pipeline company’s stock valued at $7,149,000 after acquiring an additional 1,162 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Targa Resources by 121.0% in the second quarter. Proficio Capital Partners LLC now owns 2,276 shares of the pipeline company’s stock valued at $113,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Ferris Capital LLC boosted its holdings in shares of Targa Resources by 41.8% in the second quarter. Ferris Capital LLC now owns 4,274 shares of the pipeline company’s stock valued at $212,000 after acquiring an additional 1,260 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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