Targa Resources Partners LP (NGLS) Stock Rating Upgraded by Barclays PLC
Targa Resources Partners LP (NYSE:NGLS) was upgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday. The firm presently has a $55.00 price objective on the stock, up from their prior price objective of $47.00. Barclays PLC’s target price suggests a potential upside of 416.43% from the stock’s previous close.
NGLS has been the subject of several other reports. Goldman Sachs Group Inc. upgraded shares of Targa Resources Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $52.00 in a research note on Monday, September 19th. Wunderlich reiterated a “hold” rating and issued a $45.00 target price (up from $44.00) on shares of Targa Resources Partners in a research note on Wednesday, August 31st. Finally, Stifel Nicolaus upgraded shares of Targa Resources Partners from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.89.
A hedge fund recently bought a new stake in Targa Resources Partners stock. Janney Montgomery Scott LLC bought a new position in shares of Targa Resources Partners LP (NYSE:NGLS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,065 shares of the company’s stock, valued at approximately $249,000.
Targa Resources Partners Company Profile
Targa Resources Partners LP is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States with a presence in crude oil gathering and petroleum terminaling. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to liquefied petroleum gas (LPG) exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products.
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