Targa Resources (NYSE:TRGP) had its price target decreased by Mizuho from $53.00 to $47.00 in a research report released on Thursday, The Fly reports. Mizuho currently has a neutral rating on the pipeline company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI initiated coverage on shares of Targa Resources in a research report on Tuesday, February 5th. They set a $46.00 target price for the company. BMO Capital Markets dropped their target price on shares of Targa Resources to $50.00 in a research report on Thursday, February 21st. UBS Group dropped their target price on shares of Targa Resources from $65.00 to $64.00 and set a buy rating for the company in a research report on Tuesday, January 8th. Jefferies Financial Group upgraded shares of Targa Resources from a hold rating to a buy rating in a research report on Thursday, December 20th. Finally, Seaport Global Securities upgraded shares of Targa Resources from a neutral rating to a buy rating and set a $48.00 target price for the company in a research report on Tuesday, January 29th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $55.45.

NYSE:TRGP opened at $39.34 on Thursday. The stock has a market cap of $9.15 billion, a PE ratio of 187.33 and a beta of 2.04. Targa Resources has a 52 week low of $33.55 and a 52 week high of $59.21. The company has a quick ratio of 0.45, a current ratio of 0.51 and a debt-to-equity ratio of 0.75.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Friday, March 1st. The pipeline company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.71 billion. Targa Resources had a net margin of 0.02% and a return on equity of 2.32%. On average, equities research analysts expect that Targa Resources will post -0.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 9.25%. The ex-dividend date is Tuesday, April 30th. Targa Resources’s payout ratio is presently 1,820.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brown Advisory Inc. increased its position in Targa Resources by 1.9% in the 4th quarter. Brown Advisory Inc. now owns 13,403 shares of the pipeline company’s stock valued at $483,000 after acquiring an additional 256 shares in the last quarter. Utah Retirement Systems grew its position in shares of Targa Resources by 0.7% during the 4th quarter. Utah Retirement Systems now owns 41,600 shares of the pipeline company’s stock worth $1,499,000 after buying an additional 300 shares during the period. Enterprise Financial Services Corp grew its position in shares of Targa Resources by 36.3% during the 4th quarter. Enterprise Financial Services Corp now owns 1,202 shares of the pipeline company’s stock worth $43,000 after buying an additional 320 shares during the period. Baillie Gifford & Co. grew its position in shares of Targa Resources by 21.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,783 shares of the pipeline company’s stock worth $64,000 after buying an additional 320 shares during the period. Finally, Amalgamated Bank grew its position in shares of Targa Resources by 0.8% during the 4th quarter. Amalgamated Bank now owns 42,038 shares of the pipeline company’s stock worth $1,514,000 after buying an additional 344 shares during the period. Hedge funds and other institutional investors own 91.98% of the company’s stock.

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, 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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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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