Targa Resources Corp. (NYSE:TRGP) Given Average Rating of “Buy” by Analysts

Targa Resources Corp. (NYSE:TRGP) has been given a consensus recommendation of “Buy” by the fourteen analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $203.77.

A number of analysts have weighed in on TRGP shares. Barclays boosted their target price on shares of Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. UBS Group boosted their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th.

Hedge Funds Weigh In On Targa Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the third quarter valued at about $29,000. Colonial Trust Co SC raised its holdings in shares of Targa Resources by 5,400.0% during the fourth quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Atala Financial Inc acquired a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Cary Street Partners Financial LLC acquired a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Targa Resources during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $198.19 on Thursday. The business has a fifty day moving average price of $195.91 and a two-hundred day moving average price of $176.53. The stock has a market capitalization of $43.22 billion, a PE ratio of 34.53, a P/E/G ratio of 0.61 and a beta of 2.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources has a fifty-two week low of $95.88 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. As a group, equities analysts predict that Targa Resources will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.51%. Targa Resources’s payout ratio is 52.26%.

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.