Targa Resources (TRGP) PT Lowered to $52.00

Targa Resources (NYSE:TRGP) had its price objective reduced by analysts at Credit Suisse Group from $60.00 to $52.00 in a research report issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 28.14% from the company’s previous close.

A number of other equities analysts also recently weighed in on TRGP. US Capital Advisors raised shares of Targa Resources from a “hold” rating to an “overweight” rating in a research note on Monday, November 19th. ValuEngine downgraded shares of Targa Resources from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Mizuho started coverage on shares of Targa Resources in a research note on Wednesday, November 28th. They set a “neutral” rating and a $56.00 target price for the company. Citigroup downgraded shares of Targa Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $45.00 in a research note on Thursday, November 29th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Targa Resources in a research note on Wednesday, December 12th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.71.

Shares of NYSE TRGP opened at $40.58 on Wednesday. Targa Resources has a fifty-two week low of $33.55 and a fifty-two week high of $59.21. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 202.90 and a beta of 2.04. The company has a quick ratio of 0.45, a current ratio of 0.51 and a debt-to-equity ratio of 0.75.

A number of hedge funds have recently modified their holdings of TRGP. Claybrook Capital LLC purchased a new stake in Targa Resources in the fourth quarter worth approximately $25,000. Lavaca Capital LLC purchased a new position in shares of Targa Resources during the 4th quarter worth $36,000. Rehmann Capital Advisory Group boosted its stake in shares of Targa Resources by 800.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,063 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 945 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in shares of Targa Resources by 36.3% during the 4th quarter. Enterprise Financial Services Corp now owns 1,202 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 320 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Targa Resources by 21.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,783 shares of the pipeline company’s stock worth $64,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 93.44% 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 midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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