Targa Resources, Inc. (TRGP) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Targa Resources, Inc. (NYSE:TRGP) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued reports about the company. Robert W. Baird restated a buy rating and issued a $53.00 price target on shares of Targa Resources in a report on Sunday, September 17th. ValuEngine cut Targa Resources from a hold rating to a sell rating in a research note on Friday, September 1st. Jefferies Group LLC restated a buy rating and set a $49.00 target price (down from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Stifel Nicolaus set a $53.00 price target on shares of Targa Resources and gave the company a buy rating in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reissued a buy rating and set a $60.00 price objective on shares of Targa Resources in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Targa Resources has an average rating of Buy and a consensus target price of $54.81.

Targa Resources (NYSE:TRGP) traded down 0.63% on Tuesday, hitting $47.08. 199,838 shares of the stock traded hands. The company’s 50 day moving average price is $45.63 and its 200-day moving average price is $48.58. Targa Resources has a 12-month low of $40.25 and a 12-month high of $61.83. The stock’s market capitalization is $10.15 billion.

WARNING: This piece of content was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.chaffeybreeze.com/2017/10/04/targa-resources-inc-trgp-lowered-to-hold-at-bidaskclub.html.

In related news, insider Dan C. Middlebrooks sold 2,100 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.70, for a total value of $93,870.00. Following the transaction, the insider now owns 50,853 shares in the company, valued at $2,273,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.93% of the company’s stock.

Several hedge funds have recently made changes to their positions in TRGP. Aviva PLC grew its position in Targa Resources by 8.9% in the second quarter. Aviva PLC now owns 128,243 shares of the pipeline company’s stock valued at $5,797,000 after acquiring an additional 10,500 shares during the last quarter. Usca Ria LLC lifted its holdings in shares of Targa Resources by 3.7% in the second quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 178 shares during the last quarter. Andra AP fonden lifted its holdings in shares of Targa Resources by 46.2% in the second quarter. Andra AP fonden now owns 46,500 shares of the pipeline company’s stock worth $2,102,000 after acquiring an additional 14,700 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Targa Resources by 172.5% in the second quarter. Principal Financial Group Inc. now owns 1,499,458 shares of the pipeline company’s stock worth $67,775,000 after acquiring an additional 949,244 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Targa Resources by 16.2% in the 1st quarter. Prudential Financial Inc. now owns 31,522 shares of the pipeline company’s stock valued at $1,888,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.

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