Targa Resources (NYSE:TRGP) Given a $45.00 Price Target by Mizuho Analysts
Mizuho set a $45.00 price target on Targa Resources (NYSE:TRGP) in a research report released on Friday, TipRanks reports. The firm currently has a hold rating on the pipeline company’s stock.
Several other research analysts also recently weighed in on TRGP. Raymond James began coverage on Solar Capital in a research note on Tuesday, April 16th. They issued an outperform rating and a $22.50 price target for the company. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Mitsubishi UFJ Financial Group began coverage on Targa Resources in a research note on Monday, April 8th. They issued a neutral rating and a $50.00 price target for the company. SunTrust Banks began coverage on Corteva in a research note on Monday, June 3rd. They issued a hold rating and a $29.00 price target for the company. Finally, Credit Suisse Group set a $230.00 price target on Constellation Brands and gave the stock a buy rating in a research note on Friday, April 5th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $54.95.
Shares of NYSE:TRGP traded down $0.04 during mid-day trading on Friday, reaching $41.83. 1,134,492 shares of the company traded hands, compared to its average volume of 1,905,352. The stock’s 50 day simple moving average is $39.03. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 209.15 and a beta of 1.77. The company has a current ratio of 0.58, a quick ratio of 0.48 and a debt-to-equity ratio of 0.97. Targa Resources has a 52 week low of $33.55 and a 52 week high of $59.21.
In other news, Director Robert B. Evans acquired 51,420 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were acquired at an average cost of $39.38 per share, with a total value of $2,024,919.60. Following the acquisition, the director now directly owns 38,506 shares of the company’s stock, valued at $1,516,366.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.86% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Claybrook Capital LLC purchased a new stake in Targa Resources during the 4th quarter valued at $25,000. Cerebellum GP LLC purchased a new stake in Targa Resources during the 1st quarter valued at $27,000. Arlington Partners LLC purchased a new stake in Targa Resources during the 2nd quarter valued at $29,000. Strategy Asset Managers LLC purchased a new stake in Targa Resources during the 1st quarter valued at $36,000. Finally, Valeo Financial Advisors LLC increased its stake in Targa Resources by 105.3% in the second quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 495 shares during the period. 91.15% of the stock is currently owned by institutional investors and hedge funds.
About Targa Resources
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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