Wells Fargo & Company Increases Targa Resources (NYSE:TRGP) Price Target to $220.00

Targa Resources (NYSE:TRGP) had its target price raised by research analysts at Wells Fargo & Company from $204.00 to $220.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.51% from the company’s previous close.

TRGP has been the topic of a number of other research reports. Morgan Stanley boosted their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada upped their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. UBS Group increased their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a report on Friday, November 15th. Mizuho raised their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, US Capital Advisors downgraded shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Buy” and a consensus target price of $203.77.

Targa Resources Trading Down 1.9 %

Shares of Targa Resources stock opened at $200.89 on Friday. The firm has a market capitalization of $43.81 billion, a PE ratio of 35.00, a price-to-earnings-growth ratio of 0.61 and a beta of 2.29. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The firm’s 50 day moving average is $195.91 and its 200 day moving average is $175.92. Targa Resources has a 1 year low of $95.88 and a 1 year high of $218.51.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%. Equities research analysts forecast that Targa Resources will post 8.15 earnings per share for the current fiscal year.

Institutional Trading of Targa Resources

Hedge funds have recently modified their holdings of the business. Snowden Capital Advisors LLC boosted its stake in Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 53 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock worth $1,153,000 after buying an additional 66 shares during the last quarter. Fisher Asset Management LLC raised its position in Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after buying an additional 67 shares during the last quarter. Mather Group LLC. raised its position in Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock worth $540,000 after buying an additional 68 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 92.13% 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 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.