Shares of Targa Resources Corp (NYSE:TRGP) have been assigned a consensus recommendation of “Buy” from the twenty-two research firms that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.19.
A number of analysts recently weighed in on the stock. Barclays set a $49.00 target price on shares of Targa Resources and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Evercore ISI restated a “hold” rating on shares of Targa Resources in a research note on Sunday, August 11th. Bank of America set a $44.00 target price on shares of Targa Resources and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus lowered shares of Targa Resources from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research note on Friday, October 11th. Finally, Raymond James upgraded shares of Targa Resources from an “outperform” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a research note on Wednesday, August 28th.
NYSE:TRGP traded up $1.23 on Thursday, reaching $39.26. 1,478,286 shares of the company’s stock were exchanged, compared to its average volume of 1,771,335. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $39.74 and a 200-day moving average of $38.94. Targa Resources has a 52-week low of $32.00 and a 52-week high of $48.78.
Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.12). The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Targa Resources had a negative return on equity of 0.45% and a negative net margin of 2.31%. Analysts predict that Targa Resources will post -0.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.91 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.64 annualized dividend and a yield of 9.27%. Targa Resources’s dividend payout ratio is currently 1,820.00%.
A number of institutional investors have recently made changes to their positions in the business. Fluent Financial LLC boosted its holdings in shares of Targa Resources by 0.9% in the third quarter. Fluent Financial LLC now owns 28,038 shares of the pipeline company’s stock valued at $1,126,000 after acquiring an additional 261 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Targa Resources by 3.9% in the third quarter. Daiwa Securities Group Inc. now owns 8,183 shares of the pipeline company’s stock valued at $329,000 after acquiring an additional 304 shares during the period. World Asset Management Inc boosted its holdings in shares of Targa Resources by 4.1% in the second quarter. World Asset Management Inc now owns 7,887 shares of the pipeline company’s stock valued at $310,000 after acquiring an additional 312 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Targa Resources by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 13,172 shares of the pipeline company’s stock valued at $517,000 after acquiring an additional 357 shares during the period. Finally, Bank of Edwardsville boosted its holdings in shares of Targa Resources by 5.7% in the second quarter. Bank of Edwardsville now owns 7,360 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 399 shares during the period. Institutional investors own 96.48% of the company’s stock.
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, 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.
Featured Story: Capital Gains
Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.