Targa Resources, Inc. (TRGP) Receives Average Recommendation of “Hold” from Analysts
Shares of Targa Resources, Inc. (NYSE:TRGP) have received a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.65.
Several equities research analysts have issued reports on TRGP shares. BMO Capital Markets set a $51.00 target price on shares of Targa Resources and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Citigroup Inc. cut shares of Targa Resources from a “buy” rating to a “neutral” rating and lowered their price target for the company from $54.00 to $52.00 in a research report on Tuesday, October 10th. Guggenheim raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, August 14th. TheStreet cut shares of Targa Resources from a “c-” rating to a “d+” rating in a research report on Monday, November 13th. Finally, Wells Fargo & Company lowered their price target on shares of Targa Resources from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th.
In related news, VP John Richard Klein sold 2,292 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total transaction of $95,920.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.93% of the stock is currently owned by corporate insiders.
Shares of Targa Resources (TRGP) traded up $0.11 on Friday, reaching $43.39. 581,131 shares of the company’s stock traded hands, compared to its average volume of 1,881,239. Targa Resources has a 52 week low of $39.59 and a 52 week high of $61.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 8.39%. Targa Resources’s dividend payout ratio (DPR) is presently -143.31%.
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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.
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