Targa Resources (NYSE:TRGP) Price Target Raised to $201.00

Targa Resources (NYSE:TRGP - Get Free Report) had its price objective boosted by analysts at Scotiabank from $197.00 to $201.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "sector outperform" rating on the pipeline company's stock. Scotiabank's price objective indicates a potential upside of 17.38% from the stock's previous close.

Several other equities research analysts have also recently commented on TRGP. UBS Group cut their price target on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. Royal Bank Of Canada reissued an "outperform" rating and set a $205.00 price target on shares of Targa Resources in a research report on Tuesday. US Capital Advisors raised shares of Targa Resources from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. TD Cowen started coverage on shares of Targa Resources in a report on Monday, July 7th. They issued a "hold" rating and a $192.00 target price on the stock. Finally, Citigroup dropped their target price on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $209.86.

Targa Resources Trading Up 2.9%

TRGP traded up $4.76 during trading on Tuesday, reaching $171.24. 1,441,895 shares of the company's stock were exchanged, compared to its average volume of 1,843,668. The company's fifty day moving average price is $167.35 and its 200-day moving average price is $181.76. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. Targa Resources has a fifty-two week low of $122.56 and a fifty-two week high of $218.51. The firm has a market capitalization of $37.15 billion, a PE ratio of 31.54, a P/E/G ratio of 0.59 and a beta of 1.07.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing the consensus estimate of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $5.01 billion. As a group, equities analysts forecast that Targa Resources will post 8.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Targa Resources in the fourth quarter worth about $505,132,000. GQG Partners LLC bought a new stake in shares of Targa Resources in the 4th quarter worth approximately $393,335,000. Canada Pension Plan Investment Board lifted its holdings in shares of Targa Resources by 981.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after acquiring an additional 1,038,350 shares during the last quarter. Nuveen LLC bought a new stake in Targa Resources during the 1st quarter valued at $196,351,000. Finally, Wellington Management Group LLP increased its position in Targa Resources by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company's stock valued at $2,764,673,000 after purchasing an additional 962,631 shares during the period. 92.13% of the stock is owned by 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.