Targa Resources (NYSE:TRGP) PT Raised to $130.00 at Stifel Nicolaus

Targa Resources (NYSE:TRGP) had its target price boosted by equities researchers at Stifel Nicolaus from $111.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 15.85% from the company’s current price.

Several other equities analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Barclays boosted their target price on Targa Resources from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Scotiabank boosted their target price on Targa Resources from $112.00 to $128.00 and gave the stock a “sector outperform” rating in a research report on Monday. Royal Bank of Canada lifted their price objective on Targa Resources from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, UBS Group decreased their price objective on Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $117.92.

Targa Resources Stock Performance

Shares of NYSE TRGP opened at $112.22 on Tuesday. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 30.58 and a beta of 2.21. The business’s 50-day simple moving average is $104.86 and its 200-day simple moving average is $92.35. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79. Targa Resources has a 52 week low of $67.36 and a 52 week high of $117.61.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.50 billion. As a group, equities research analysts expect that Targa Resources will post 5.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Joe Bob Perkins sold 33,405 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total value of $3,262,666.35. Following the transaction, the director now owns 38,440 shares of the company’s stock, valued at $3,754,434.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joe Bob Perkins sold 33,405 shares of the stock in a transaction that occurred 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 sale, the director now owns 38,440 shares of the company’s stock, valued at $3,754,434.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Julie H. Boushka sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the sale, the chief accounting officer now directly owns 71,808 shares in the company, valued at approximately $7,012,769.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,966 shares of company stock valued at $7,987,215. 1.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Targa Resources

Large investors have recently modified their holdings of the business. Addison Advisors LLC acquired a new stake in Targa Resources during the 4th quarter worth about $27,000. Harbour Investments Inc. increased its holdings in Targa Resources by 51.3% during the 3rd quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Quarry LP bought a new stake in Targa Resources during the 1st quarter worth approximately $33,000. VisionPoint Advisory Group LLC increased its holdings in Targa Resources by 111.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 209 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in Targa Resources during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds 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.