Targa Resources, Inc. (NYSE:TRGP - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $147.60 and last traded at $148.62, with a volume of 241500 shares. The stock had previously closed at $151.77.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Targa Resources from $205.00 to $208.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. BMO Capital Markets began coverage on Targa Resources in a research note on Friday, September 19th. They issued an "outperform" rating and a $185.00 price objective for the company. Scotiabank reaffirmed an "outperform" rating on shares of Targa Resources in a research note on Thursday, August 14th. TD Securities began coverage on Targa Resources in a research note on Monday, July 7th. They set a "hold" rating for the company. Finally, Barclays raised their price target on Targa Resources from $178.00 to $195.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $207.67.
Get Our Latest Stock Analysis on TRGP
Targa Resources Stock Performance
The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The firm has a market cap of $32.19 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The stock has a fifty day moving average price of $164.78 and a 200 day moving average price of $167.21.
Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.92. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%. As a group, analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.
Institutional Trading of Targa Resources
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRGP. GAMMA Investing LLC grew its holdings in Targa Resources by 13.7% in the 1st quarter. GAMMA Investing LLC now owns 4,631 shares of the pipeline company's stock valued at $928,000 after buying an additional 559 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Targa Resources by 7.8% during the 1st quarter. Fifth Third Bancorp now owns 9,343 shares of the pipeline company's stock worth $1,873,000 after purchasing an additional 675 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Targa Resources during the 1st quarter worth approximately $338,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Targa Resources by 32.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,457 shares of the pipeline company's stock worth $8,311,000 after purchasing an additional 10,158 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Targa Resources during the 1st quarter worth approximately $73,000. Institutional investors and hedge funds own 92.13% of the company's stock.
About Targa Resources
(
Get Free Report)
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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