Targa Resources, Inc. (NYSE:TRGP) Earns Hold Rating from BMO Capital Markets

Targa Resources, Inc. (NYSE:TRGP)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a note issued to investors on Wednesday, July 12th. They currently have a $51.00 price objective on the pipeline company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 10.27% from the stock’s current price.

Several other analysts have also recently commented on TRGP. Deutsche Bank AG reiterated a “buy” rating and issued a $69.00 target price on shares of Targa Resources in a report on Wednesday, March 29th. Jefferies Group LLC reiterated a “hold” rating and issued a $54.00 target price on shares of Targa Resources in a report on Tuesday, April 4th. Guggenheim initiated coverage on Targa Resources in a report on Monday, April 17th. They issued a “neutral” rating and a $54.00 target price on the stock. Macquarie initiated coverage on Targa Resources in a report on Friday, April 21st. They set an “outperform” rating and a $65.00 price target on the stock. Finally, Seaport Global Securities upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Targa Resources presently has an average rating of “Buy” and a consensus target price of $54.16.

Shares of Targa Resources (NYSE:TRGP) traded up 1.17% during mid-day trading on Wednesday, hitting $46.79. 596,165 shares of the company were exchanged. The firm has a 50 day moving average of $44.42 and a 200 day moving average of $52.95. Targa Resources has a 12-month low of $35.35 and a 12-month high of $61.83. The company’s market capitalization is $9.27 billion.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Targa Resources by 11.9% in the first quarter. Vanguard Group Inc. now owns 15,945,628 shares of the pipeline company’s stock valued at $955,142,000 after buying an additional 1,693,292 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Targa Resources by 8.3% in the first quarter. Goldman Sachs Group Inc. now owns 14,347,747 shares of the pipeline company’s stock valued at $859,430,000 after buying an additional 1,097,748 shares during the last quarter. BlackRock Inc. increased its position in Targa Resources by 2,928.1% in the first quarter. BlackRock Inc. now owns 10,090,553 shares of the pipeline company’s stock valued at $604,426,000 after buying an additional 9,757,325 shares during the last quarter. OppenheimerFunds Inc. increased its position in Targa Resources by 7.3% in the first quarter. OppenheimerFunds Inc. now owns 8,956,121 shares of the pipeline company’s stock valued at $536,472,000 after buying an additional 611,465 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its position in Targa Resources by 3.2% in the second quarter. Chickasaw Capital Management LLC now owns 7,921,492 shares of the pipeline company’s stock valued at $358,051,000 after buying an additional 244,459 shares during the last quarter. Institutional investors own 80.00% of the company’s stock.

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)

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