Guggenheim upgraded shares of Targa Resources, Inc. (NYSE:TRGP) from a neutral rating to a buy rating in a research report report published on Monday, Marketbeat.com reports. Guggenheim currently has $50.00 target price on the pipeline company’s stock.

Other analysts have also recently issued research reports about the stock. UBS AG reissued a buy rating and issued a $65.00 target price (down previously from $68.00) on shares of Targa Resources in a research note on Tuesday, May 30th. Zacks Investment Research raised shares of Targa Resources from a sell rating to a hold rating in a research note on Wednesday, August 9th. Credit Suisse Group set a $54.00 target price on shares of Targa Resources and gave the company a hold rating in a research note on Sunday, May 28th. Robert W. Baird lowered their target price on shares of Targa Resources from $54.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, June 30th. Finally, BidaskClub raised shares of Targa Resources from a sell rating to a hold rating in a research note on Tuesday, June 27th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $53.95.

Targa Resources (NYSE TRGP) opened at 42.62 on Monday. Targa Resources has a one year low of $40.25 and a one year high of $61.83. The company’s market cap is $9.19 billion. The firm has a 50-day moving average of $45.09 and a 200-day moving average of $51.45.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were given a $0.91 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $3.64 dividend on an annualized basis and a yield of 8.54%.

In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $44.70, for a total value of $93,870.00. Following the transaction, the insider now directly owns 50,853 shares in the company, valued at $2,273,129.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.93% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in shares of Targa Resources by 3.5% in the second quarter. Public Employees Retirement System of Ohio now owns 87,027 shares of the pipeline company’s stock worth $3,934,000 after buying an additional 2,908 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of Targa Resources by 7.1% in the second quarter. Westwood Holdings Group Inc. now owns 403,503 shares of the pipeline company’s stock worth $18,238,000 after buying an additional 26,628 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Targa Resources by 8.4% in the second quarter. California State Teachers Retirement System now owns 393,285 shares of the pipeline company’s stock worth $17,776,000 after buying an additional 30,331 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Targa Resources by 22.7% in the second quarter. Bank of Nova Scotia now owns 208,524 shares of the pipeline company’s stock worth $9,425,000 after buying an additional 38,524 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Targa Resources by 12.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 131,048 shares of the pipeline company’s stock worth $5,923,000 after buying an additional 14,922 shares during the last quarter. Hedge funds and other institutional investors own 83.02% 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)

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