Targa Resources (NYSE:TRGP) Price Target Raised to $195.00

Targa Resources (NYSE:TRGP - Get Free Report) had its price objective boosted by equities researchers at Barclays from $178.00 to $195.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the pipeline company's stock. Barclays's target price suggests a potential upside of 14.22% from the company's current price.

TRGP has been the topic of a number of other reports. Citigroup lowered their price target on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. UBS Group dropped 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. Morgan Stanley boosted their target price 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. Truist Financial boosted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $205.00 target price (up previously from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $209.57.

Targa Resources Trading Up 0.0%

NYSE:TRGP traded up $0.04 during trading hours on Thursday, hitting $170.73. The stock had a trading volume of 1,125,866 shares, compared to its average volume of 1,838,354. Targa Resources has a one year low of $122.56 and a one year high of $218.51. The company has a debt-to-equity ratio of 6.04, a quick ratio of 0.57 and a current ratio of 0.65. The company has a market cap of $37.04 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 0.62 and a beta of 1.07. The business's 50 day moving average is $166.18 and its 200-day moving average is $182.14.

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 the consensus estimate of $2.04 by ($1.13). The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $5.01 billion. Targa Resources had a return on equity of 30.48% and a net margin of 7.35%. Sell-side analysts anticipate that Targa Resources will post 8.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Targa Resources

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Targa Resources by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 27,584,275 shares of the pipeline company's stock worth $5,529,820,000 after buying an additional 423,667 shares during the last quarter. Wellington Management Group LLP grew its holdings in Targa Resources by 7.5% in the first quarter. Wellington Management Group LLP now owns 13,790,955 shares of the pipeline company's stock worth $2,764,673,000 after purchasing an additional 962,631 shares during the last quarter. Geode Capital Management LLC grew its holdings in Targa Resources by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock worth $1,056,187,000 after purchasing an additional 212,986 shares during the last quarter. Invesco Ltd. grew its holdings in Targa Resources by 3.2% in the first quarter. Invesco Ltd. now owns 4,565,960 shares of the pipeline company's stock worth $915,338,000 after purchasing an additional 139,780 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in Targa Resources by 64.0% in the first quarter. GQG Partners LLC now owns 3,614,307 shares of the pipeline company's stock worth $724,560,000 after purchasing an additional 1,410,747 shares during the last quarter. 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.

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