Targa Resources, Inc. (NYSE:TRGP)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a report released on Wednesday, July 12th. They presently have a $51.00 price target on the pipeline company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 10.85% from the company’s current price.
A number of other brokerages have also recently issued reports on TRGP. ValuEngine cut Targa Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 3rd. Credit Suisse Group set a $56.00 price objective on Targa Resources and gave the company a “neutral” rating in a research note on Friday, May 5th. Macquarie started coverage on Targa Resources in a research note on Friday, April 21st. They set an “outperform” rating and a $65.00 price objective for the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $69.00 price objective on shares of Targa Resources in a research note on Wednesday, March 29th. Finally, Citigroup Inc. reduced their price objective on Targa Resources from $64.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.16.
Shares of Targa Resources (NYSE TRGP) opened at 46.01 on Wednesday. The stock’s 50 day moving average is $44.61 and its 200-day moving average is $52.60. Targa Resources has a one year low of $35.35 and a one year high of $61.83. The company’s market cap is $9.11 billion.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position 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 valued at $131,000 after buying an additional 491 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Targa Resources during the second quarter valued at $105,000. Bollard Group LLC increased its position in Targa Resources by 0.9% in the first quarter. Bollard Group LLC now owns 2,499 shares of the pipeline company’s stock valued at $150,000 after buying an additional 23 shares during the last quarter. Fayez Sarofim & Co purchased a new position in Targa Resources during the first quarter valued at $204,000. Finally, Penserra Capital Management LLC increased its position in Targa Resources by 53.4% in the first quarter. Penserra Capital Management LLC now owns 3,529 shares of the pipeline company’s stock valued at $211,000 after buying an additional 1,228 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.
Targa Resources Company Profile
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.
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