Targa Resources Corp. (NYSE:TRGP) Given Consensus Rating of “Buy” by Brokerages

Targa Resources Corp. (NYSE:TRGP) has been given a consensus rating of “Buy” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $176.50.

Several equities research analysts have issued reports on TRGP shares. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company upped their target price on Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their target price on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price target on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the completion of the transaction, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 183,260 shares of company stock valued at $29,661,212 over the last 90 days. 1.44% of the stock is owned by corporate insiders.

Institutional Trading of Targa Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources in the second quarter worth $29,000. DT Investment Partners LLC acquired a new position in shares of Targa Resources in the 3rd quarter valued at about $29,000. UMB Bank n.a. grew its position in shares of Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Targa Resources during the third quarter worth about $35,000. Finally, Whittier Trust Co. bought a new position in Targa Resources in the second quarter worth about $44,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Up 0.5 %

Shares of NYSE TRGP opened at $186.28 on Friday. The firm’s 50-day moving average is $180.92 and its two-hundred day moving average is $151.53. The company has a market capitalization of $40.62 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 0.77 and a beta of 2.28. Targa Resources has a 12-month low of $81.03 and a 12-month high of $209.87. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.97 earnings per share. Equities analysts anticipate that Targa Resources will post 6.26 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 54.25%.

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.