Royal Bank Of Canada Reiterates "Outperform" Rating for Targa Resources (NYSE:TRGP)

Targa Resources (NYSE:TRGP - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Royal Bank Of Canada in a report released on Tuesday,Benzinga reports. They currently have a $205.00 target price on the pipeline company's stock. Royal Bank Of Canada's price target points to a potential upside of 19.72% from the company's current price.

Other equities analysts have also issued research reports about the stock. UBS Group decreased their price objective on shares of Targa Resources from $259.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. TD Securities started coverage on shares of Targa Resources in a research note on Monday, July 7th. They set a "hold" rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Targa Resources from $189.00 to $209.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group decreased their target price on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Citigroup decreased their target price on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $209.86.

Targa Resources Price Performance

NYSE:TRGP traded up $4.76 during trading hours 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 has a market capitalization of $37.15 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. Targa Resources has a 12 month low of $122.56 and a 12 month high of $218.51. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 6.04. The business's 50-day simple moving average is $167.35 and its two-hundred day simple moving average is $181.76.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRGP. Cornerstone Planning Group LLC raised its holdings in Targa Resources by 578.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock worth $26,000 after acquiring an additional 110 shares during the period. Colonial Trust Co SC raised its holdings in Targa Resources by 5,400.0% in the 4th 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. Cary Street Partners Financial LLC bought a new position in Targa Resources in the 4th quarter worth $31,000. Ameriflex Group Inc. bought a new position in Targa Resources in the 4th quarter worth $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in Targa Resources in the 4th quarter worth $32,000. 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.