Targa Resources (NYSE:TRGP) Stock Price Expected to Rise, Mizuho Analyst Says

Targa Resources (NYSE:TRGP) had its price target hoisted by analysts at Mizuho from $208.00 to $226.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Mizuho’s target price points to a potential upside of 12.50% from the company’s previous close.

Several other equities analysts also recently commented on TRGP. Morgan Stanley increased their target price on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Truist Financial decreased their target price on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Wells Fargo & Company raised their target price on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $203.77.

Targa Resources Stock Down 1.9 %

TRGP stock opened at $200.89 on Thursday. 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 business’s 50 day simple moving average is $195.58 and its 200 day simple moving average is $175.41. Targa Resources has a 1-year low of $95.88 and a 1-year high of $218.51. The firm has a market capitalization of $43.81 billion, a PE ratio of 36.33, a PEG ratio of 0.62 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.48 billion. As a group, research analysts anticipate that Targa Resources will post 6.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. DT Investment Partners LLC bought a new position in shares of Targa Resources in the third quarter valued at approximately $29,000. Colonial Trust Co SC lifted its holdings in Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 162 shares during the period. Atala Financial Inc bought a new stake in Targa Resources during the fourth quarter worth $31,000. Cary Street Partners Financial LLC bought a new stake in Targa Resources during the fourth quarter worth $31,000. Finally, Rakuten Securities Inc. lifted its holdings in Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 146 shares during the period. 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.