Targa Resources (NYSE:TRGP) PT Raised to $171.00 at Barclays

Targa Resources (NYSE:TRGP) had its price target upped by research analysts at Barclays from $155.00 to $171.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price would suggest a potential upside of 5.15% from the company’s current price.

A number of other research firms have also commented on TRGP. Wells Fargo & Company upped their price target on shares of Targa Resources from $124.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $147.00 to $163.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price objective on shares of Targa Resources from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada upped their price objective on shares of Targa Resources from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $145.77.

Targa Resources Trading Up 0.5 %

NYSE:TRGP opened at $162.63 on Tuesday. The company has a fifty day moving average of $149.38 and a 200 day moving average of $131.59. Targa Resources has a 52 week low of $81.03 and a 52 week high of $167.79. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $35.63 billion, a P/E ratio of 34.24, a P/E/G ratio of 1.32 and a beta of 2.25.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business posted $1.44 EPS. On average, research analysts predict that Targa Resources will post 5.9 earnings per share for the current year.

Insider Transactions at Targa Resources

In other news, Director Joe Bob Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the sale, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joe Bob Perkins sold 150,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now directly owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 12,641 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $134.50, for a total transaction of $1,700,214.50. Following the sale, the chief accounting officer now directly owns 38,403 shares in the company, valued at $5,165,203.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 175,534 shares of company stock valued at $26,815,021 in the last three months. 1.44% of the stock is currently owned by company insiders.

Institutional Trading of Targa Resources

Several institutional investors have recently bought and sold shares of TRGP. American International Group Inc. grew its position in Targa Resources by 0.4% during the 4th quarter. American International Group Inc. now owns 63,044 shares of the pipeline company’s stock valued at $5,477,000 after purchasing an additional 241 shares during the last quarter. SageView Advisory Group LLC bought a new position in Targa Resources during the 4th quarter valued at about $471,000. B. Riley Wealth Advisors Inc. lifted its stake in Targa Resources by 4.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 13,652 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 573 shares during the period. PNC Financial Services Group Inc. lifted its stake in Targa Resources by 13.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,405 shares of the pipeline company’s stock valued at $1,512,000 after acquiring an additional 2,090 shares during the period. Finally, Nomura Holdings Inc. bought a new position in Targa Resources during the 4th quarter valued at about $621,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

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.