Targa Resources (NYSE:TRGP) Stock Rating Reaffirmed by Barclays

Barclays reiterated their buy rating on shares of Targa Resources (NYSE:TRGP) in a research note published on Thursday morning, AnalystRatings.com reports. They currently have a $48.00 target price on the pipeline company’s stock.

TRGP has been the subject of several other reports. SunTrust Banks began coverage on Corteva in a research note on Monday, June 3rd. They set a hold rating and a $29.00 target price for the company. Mitsubishi UFJ Financial Group began coverage on Targa Resources in a research note on Monday, April 8th. They set a neutral rating and a $50.00 target price for the company. Raymond James began coverage on Solar Capital in a research note on Tuesday, April 16th. They set an outperform rating and a $22.50 target price for the company. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Targa Resources currently has a consensus rating of Buy and a consensus price target of $54.58.

TRGP stock opened at $39.71 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.58 and a quick ratio of 0.48. The stock has a market cap of $9.10 billion, a P/E ratio of 198.55 and a beta of 1.77. Targa Resources has a 12-month low of $33.55 and a 12-month high of $59.21. The company has a fifty day moving average price of $39.11.



Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.16). Targa Resources had a negative net margin of 0.58% and a positive return on equity of 1.45%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Sell-side analysts expect that Targa Resources will post -0.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, July 30th. This represents a $3.64 annualized dividend and a dividend yield of 9.17%. Targa Resources’s dividend payout ratio is currently 1,820.00%.

In other Targa Resources news, Director Robert B. Evans acquired 51,420 shares of the stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $39.38 per share, with a total value of $2,024,919.60. Following the transaction, the director now owns 38,506 shares in the company, valued at approximately $1,516,366.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.86% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TRGP. Cerebellum GP LLC acquired a new position in shares of Targa Resources during the 1st quarter worth about $27,000. Arlington Partners LLC acquired a new stake in shares of Targa Resources in the 2nd quarter valued at about $29,000. Strategy Asset Managers LLC acquired a new stake in shares of Targa Resources in the 1st quarter valued at about $36,000. Valeo Financial Advisors LLC boosted its position in shares of Targa Resources by 105.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 495 shares during the period. Finally, TCG Advisors LP acquired a new stake in shares of Targa Resources in the 1st quarter valued at about $58,000. 91.15% of the stock is owned by institutional investors and hedge funds.

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, 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; 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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