Targa Resources (NYSE:TRGP) Rating Lowered to “Hold” at US Capital Advisors

Targa Resources (NYSE:TRGP) was downgraded by equities researchers at US Capital Advisors from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for Targa Resources’ Q4 2024 earnings at $1.88 EPS, FY2024 earnings at $6.25 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $9.27 EPS.

Other analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. UBS Group lifted their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial lifted their price objective on shares of Targa Resources from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Barclays raised their target price on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $176.50.

Targa Resources Trading Down 1.0 %

Targa Resources stock opened at $201.39 on Tuesday. The firm’s 50-day moving average is $172.39 and its 200-day moving average is $146.01. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. Targa Resources has a 1 year low of $81.03 and a 1 year high of $209.87. The company has a market cap of $43.92 billion, a P/E ratio of 36.42, a PEG ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $0.97 EPS. On average, equities analysts expect that Targa Resources will post 6.23 earnings per share for the current year.

Insiders Place Their Bets

In other Targa Resources news, insider Robert Muraro sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the transaction, the insider now directly owns 174,451 shares in the company, valued at $25,504,736.20. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. This represents a 57.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,760 shares of company stock worth $30,026,712 over the last ninety days. 1.44% of the stock is currently owned by company insiders.

Institutional Trading of Targa Resources

Several institutional investors have recently made changes to their positions in the stock. DT Investment Partners LLC acquired a new stake in Targa Resources in the third quarter valued at approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources in the second quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake in Targa Resources by 2,220.0% in the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Targa Resources in the third quarter valued at approximately $35,000. Finally, Whittier Trust Co. acquired a new stake in Targa Resources in the second quarter valued at approximately $44,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved 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; and gathering, storing, terminaling, purchasing, and selling crude oil.