Targa Resources (NYSE:TRGP) Earns Hold Rating from Analysts at TD Cowen

Investment analysts at TD Cowen assumed coverage on shares of Targa Resources (NYSE:TRGP - Get Free Report) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set a "hold" rating and a $192.00 price target on the pipeline company's stock. TD Cowen's price target would indicate a potential upside of 10.65% from the company's previous close.

Several other equities analysts have also recently issued reports on TRGP. Scotiabank boosted their price objective on shares of Targa Resources from $193.00 to $197.00 and gave the company a "sector outperform" rating in a research note on Thursday, June 5th. Royal Bank Of Canada reiterated an "outperform" rating and set a $205.00 price target (up from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Morgan Stanley raised their price objective on shares of Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Barclays dropped their target price on Targa Resources from $206.00 to $178.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Finally, Truist Financial raised their price target on Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $208.31.

Targa Resources Stock Down 0.1%

TRGP stock opened at $173.52 on Monday. The company has a market cap of $37.64 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 0.62 and a beta of 1.07. The company has a fifty day moving average price of $166.38 and a 200 day moving average price of $182.30. The company has a debt-to-equity ratio of 6.04, a current ratio of 0.65 and a quick ratio of 0.57. Targa Resources has a 12 month low of $122.56 and a 12 month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 EPS for the quarter, missing analysts' consensus estimates of $2.04 by ($1.13). Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. The business had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $5.01 billion. Sell-side analysts expect that Targa Resources will post 8.15 earnings per share for the current year.

Hedge Funds Weigh In On Targa Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in shares of Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 110 shares during the period. Ameriflex Group Inc. bought a new position in shares of Targa Resources in the 4th quarter valued at approximately $31,000. Colonial Trust Co SC lifted its stake in shares of Targa Resources by 5,400.0% in the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company's stock worth $29,000 after buying an additional 162 shares during the last quarter. Atala Financial Inc acquired a new position in Targa Resources during the 4th quarter worth $31,000. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Targa Resources during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 92.13% of the company's stock.

About Targa Resources

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.

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