Targa Resources (NYSE:TRGP) Price Target Raised to $145.00 at JPMorgan Chase & Co.

Targa Resources (NYSE:TRGP) had its target price raised by JPMorgan Chase & Co. from $140.00 to $145.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.86% from the company’s current price.

A number of other equities research analysts have also commented on the company. Stifel Nicolaus increased their price target on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Mizuho increased 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. Morgan Stanley boosted their price target on shares of Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. The Goldman Sachs Group lifted their target price on shares of Targa Resources from $105.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company increased their price target on Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $129.85.

Targa Resources Stock Down 0.4 %

Shares of NYSE TRGP traded down $0.48 during mid-day trading on Tuesday, reaching $130.79. 567,577 shares of the company’s stock traded hands, compared to its average volume of 1,649,208. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. Targa Resources has a 1-year low of $74.95 and a 1-year high of $132.08. The stock has a market cap of $29.00 billion, a P/E ratio of 26.89, a PEG ratio of 0.76 and a beta of 2.27. The business has a 50-day simple moving average of $118.39 and a 200 day simple moving average of $104.44.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.28 billion. Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. On average, analysts expect that Targa Resources will post 5.27 EPS for the current fiscal year.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $120.08, for a total transaction of $1,200,800.00. Following the sale, the insider now owns 196,951 shares of the company’s stock, valued at approximately $23,649,876.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Robert Muraro sold 10,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $120.08, for a total value of $1,200,800.00. Following the sale, the insider now directly owns 196,951 shares of the company’s stock, valued at $23,649,876.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total transaction of $304,083.00. Following the transaction, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at approximately $6,466,764. The disclosure for this sale can be found here. Insiders sold 42,791 shares of company stock worth $4,907,563 over the last quarter. Corporate insiders own 1.44% of the company’s stock.

Institutional Investors Weigh In On Targa Resources

A number of institutional investors and hedge funds have recently made changes to their positions in TRGP. Price T Rowe Associates Inc. MD raised its holdings in shares of Targa Resources by 231.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,378,046 shares of the pipeline company’s stock valued at $119,712,000 after acquiring an additional 962,073 shares in the last quarter. Morgan Stanley lifted its position in Targa Resources by 16.1% during the third quarter. Morgan Stanley now owns 3,791,452 shares of the pipeline company’s stock valued at $325,003,000 after purchasing an additional 524,794 shares during the last quarter. Ieq Capital LLC grew its stake in Targa Resources by 8.5% in the 4th quarter. Ieq Capital LLC now owns 6,169 shares of the pipeline company’s stock worth $536,000 after buying an additional 482 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in shares of Targa Resources by 287.3% in the 1st quarter. New Mexico Educational Retirement Board now owns 45,700 shares of the pipeline company’s stock worth $5,118,000 after buying an additional 33,900 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in shares of Targa Resources during the 4th quarter valued at $1,117,000. Hedge funds and other 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.