Browse By

Targa Resources, Inc. (TRGP) Given Consensus Recommendation of “Buy” by Brokerages

Targa Resources logoShares of Targa Resources, Inc. (NYSE:TRGP) have earned an average rating of “Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.16.

A number of equities research analysts recently commented on the stock. UBS AG reissued a “buy” rating and issued a $65.00 price objective (down from $68.00) on shares of Targa Resources in a research note on Tuesday, May 30th. Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of Targa Resources in a research note on Monday, May 8th. Seaport Global Securities raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, May 2nd. Stifel Nicolaus set a $63.00 price objective on shares of Targa Resources and gave the company a “buy” rating in a research note on Monday, June 26th. Finally, Citigroup Inc. reduced their target price on shares of Targa Resources from $64.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, June 28th.

Get Targa Resources Inc. alerts:

Shares of Targa Resources (NYSE TRGP) traded down 0.41% during mid-day trading on Monday, hitting $46.22. 1,183,732 shares of the stock traded hands. The firm’s market cap is $9.96 billion. Targa Resources has a 12-month low of $35.35 and a 12-month high of $61.83. The firm’s 50 day moving average price is $44.60 and its 200 day moving average price is $52.68.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 7.88%. The ex-dividend date is Friday, July 28th.

Hedge funds have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new stake in Targa Resources during the second quarter worth $105,000. Bollard Group LLC increased its stake in Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after buying an additional 27 shares during the last quarter. Van ECK Associates Corp increased its stake in Targa Resources by 29.1% in the first quarter. Van ECK Associates Corp now owns 2,181 shares of the pipeline company’s stock worth $131,000 after buying an additional 491 shares during the last quarter. Fayez Sarofim & Co bought a new stake in Targa Resources during the first quarter worth $204,000. Finally, Johnson Financial Group LLC increased its stake in Targa Resources by 5.2% in the second quarter. Johnson Financial Group LLC now owns 4,646 shares of the pipeline company’s stock worth $209,000 after buying an additional 228 shares during the last quarter. 80.01% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.com-unik.info/2017/08/01/analysts-set-targa-resources-inc-trgp-target-price-at-55-05-updated.html.

About Targa Resources

Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

What are top analysts saying about Targa Resources Inc.? – Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Targa Resources Inc. and related companies.

Leave a Reply

Your email address will not be published. Required fields are marked *