Targa Resources (NYSE:TRGP) Price Target Increased to $130.00 by Analysts at Stifel Nicolaus

Targa Resources (NYSE:TRGP) had its price objective boosted by equities research analysts at Stifel Nicolaus from $111.00 to $130.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 15.85% from the company’s current price.

A number of other research firms also recently issued reports on TRGP. Royal Bank of Canada boosted their target price on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Mizuho boosted their target price on shares of Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Citigroup boosted their target price on shares of Targa Resources from $104.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Barclays boosted their target price on shares of Targa Resources from $116.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $117.92.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $112.22 on Tuesday. The company has a market cap of $24.97 billion, a PE ratio of 30.58 and a beta of 2.21. Targa Resources has a 12 month low of $67.36 and a 12 month high of $117.61. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.79 and a quick ratio of 0.66. The company has a 50-day simple moving average of $104.86 and a 200-day simple moving average of $92.35.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Targa Resources had a return on equity of 18.64% and a net margin of 5.20%. On average, equities analysts anticipate that Targa Resources will post 5.77 earnings per share for the current year.

Insider Transactions at Targa Resources

In other news, Director Joe Bob Perkins sold 33,405 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the transaction, the director now directly owns 38,440 shares of the company’s stock, valued at $3,754,434.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider D. Scott Pryor sold 10,000 shares of Targa Resources stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the completion of the sale, the insider now owns 156,098 shares in the company, valued at $15,141,506. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the sale, the director now owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,966 shares of company stock valued at $7,987,215. Corporate insiders own 1.44% of the company’s stock.

Institutional Trading of Targa Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in TRGP. Cetera Advisor Networks LLC bought a new stake in shares of Targa Resources in the first quarter worth $250,000. PNC Financial Services Group Inc. increased its stake in Targa Resources by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 14,741 shares of the pipeline company’s stock valued at $1,112,000 after purchasing an additional 737 shares during the last quarter. Sei Investments Co. increased its stake in Targa Resources by 11.6% during the first quarter. Sei Investments Co. now owns 186,471 shares of the pipeline company’s stock valued at $14,072,000 after purchasing an additional 19,372 shares during the last quarter. Brighton Jones LLC bought a new stake in Targa Resources during the first quarter valued at $249,000. Finally, Covestor Ltd increased its stake in Targa Resources by 91.8% during the first quarter. Covestor Ltd now owns 1,429 shares of the pipeline company’s stock valued at $108,000 after purchasing an additional 684 shares during the last quarter. 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.