Goldman Sachs Group Inc. Upgrades Targa Resources Partners LP (NGLS) to “Buy”
Targa Resources Partners LP (NYSE:NGLS) was upgraded by Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $52.00 price target on the stock, up from their previous price target of $41.00. Goldman Sachs Group Inc.’s price target indicates a potential upside of 388.26% from the company’s previous close.
A number of other equities analysts also recently commented on the stock. Wunderlich reiterated a “hold” rating and issued a $45.00 target price (up from $44.00) on shares of Targa Resources Partners in a report on Wednesday, August 31st. 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 report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.00.
An institutional investor recently raised its position in Targa Resources Partners stock. Texan Capital Management raised its stake in Targa Resources Partners LP (NYSE:NGLS) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,989 shares of the company’s stock after buying an additional 341 shares during the period. Texan Capital Management’s holdings in Targa Resources Partners were worth $547,000 as of its most recent filing with the SEC.
About Targa Resources Partners
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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