Targa Resources, Inc. (TRGP) Raised to Hold at Zacks Investment Research

Targa Resources, Inc. (NYSE:TRGP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, August 9th.

According to Zacks, “Targa Resources Corp owns general and limited partner interests in Targa Resources Partners LP, engaged in providing midstream natural gas and natural gas liquid services in the United States. The Company operates its business through two business segments: Natural Gas Gathering and Processing and NGL Logistics and Marketing. The Natural Gas Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting natural gas liquids and removing impurities. NGL Logistics and Marketing segment is engaged in gathering and storing; fractionating, storing, and transporting of finished NGLs. Targa also markets the natural gas liquids produced and purchased in selected United States markets. The Company also offers refinery services and wholesale propane marketing operations. Targa Resources Corp is headquartered in Houston, Texas. “

Several other analysts also recently issued reports on the stock. ValuEngine raised shares of Targa Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Barclays PLC downgraded shares of Targa Resources from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $55.00 to $47.00 in a research report on Tuesday, July 18th. Stifel Nicolaus reissued a “buy” rating and issued a $54.00 price target (down previously from $63.00) on shares of Targa Resources in a research report on Monday, July 17th. Wells Fargo & Company raised shares of Targa Resources from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Finally, Royal Bank Of Canada dropped their price objective on Targa Resources from $67.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, July 14th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.95.

Targa Resources (TRGP) opened at 43.31 on Wednesday. Targa Resources has a one year low of $40.25 and a one year high of $61.83. The firm’s market cap is $9.34 billion. The company’s 50-day moving average is $45.08 and its 200-day moving average is $51.35.

COPYRIGHT VIOLATION WARNING: This report was originally reported by BNB Daily and is the sole property of of BNB Daily. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.baseball-news-blog.com/2017/08/19/targa-resources-inc-trgp-upgraded-by-zacks-investment-research-to-hold-updated.html.

In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of Targa Resources stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the completion of the transaction, the insider now owns 50,853 shares of the company’s stock, valued at approximately $2,273,129.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TRGP. Shine Investment Advisory Services Inc. acquired a new position in shares of Targa Resources during the second quarter valued at approximately $105,000. Bollard Group LLC raised its position in shares of Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after buying an additional 27 shares during the last quarter. Ffcm LLC raised its position in shares of Targa Resources by 237.0% in the second quarter. Ffcm LLC now owns 2,716 shares of the pipeline company’s stock valued at $122,000 after buying an additional 1,910 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after buying an additional 524 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Targa Resources by 20.6% in the second quarter. Penserra Capital Management LLC now owns 4,255 shares of the pipeline company’s stock valued at $192,000 after buying an additional 726 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Targa Resources (TRGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply