Targa Resources, Inc. (NYSE:TRGP) Lifted to “Hold” at BidaskClub

Targa Resources, Inc. (NYSE:TRGP) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, June 27th.

Several other analysts have also issued reports on the company. Guggenheim initiated coverage on Targa Resources in a report on Monday, April 17th. They set a “neutral” rating and a $54.00 price target for the company. Macquarie assumed coverage on Targa Resources in a research note on Friday, April 21st. They issued an “outperform” rating and a $65.00 price objective for the company. Credit Suisse Group set a $56.00 target price on Targa Resources and gave the stock a “neutral” rating in a research report on Friday, May 5th. BMO Capital Markets reiterated a “hold” rating and issued a $49.00 target price on shares of Targa Resources in a research report on Monday, April 17th. Finally, Deutsche Bank AG restated a “buy” rating and set a $69.00 price objective on shares of Targa Resources in a research report on Wednesday, March 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.58.

Shares of Targa Resources (NYSE TRGP) opened at 46.04 on Tuesday. Targa Resources has a 12 month low of $35.35 and a 12 month high of $61.83. The company has a 50 day moving average of $46.09 and a 200-day moving average of $54.40. The firm’s market capitalization is $9.12 billion.

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A number of large investors have recently bought and sold shares of TRGP. Van ECK Associates Corp boosted its stake in Targa Resources by 29.1% in the first quarter. Van ECK Associates Corp now owns 2,181 shares of the pipeline company’s stock valued at $131,000 after buying an additional 491 shares during the last quarter. Bollard Group LLC boosted its stake in Targa Resources by 0.9% in the first quarter. Bollard Group LLC now owns 2,499 shares of the pipeline company’s stock valued at $150,000 after buying an additional 23 shares during the last quarter. Fayez Sarofim & Co acquired a new stake in Targa Resources during the first quarter valued at $204,000. Penserra Capital Management LLC boosted its stake in Targa Resources by 53.4% in the first quarter. Penserra Capital Management LLC now owns 3,529 shares of the pipeline company’s stock valued at $211,000 after buying an additional 1,228 shares during the last quarter. Finally, Fernwood Investment Management LLC acquired a new stake in Targa Resources during the first quarter valued at $212,000. Institutional investors own 79.94% of the company’s stock.

About Targa Resources

Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

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