Shares of Targa Resources Corp (NYSE:TRGP) have been assigned a consensus recommendation of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.18.

Several analysts have commented on the stock. Bank of America assumed coverage on shares of Targa Resources in a research note on Tuesday. They set a “neutral” rating for the company. Credit Suisse Group assumed coverage on shares of Targa Resources in a research note on Thursday, January 4th. They set a “neutral” rating and a $46.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Targa Resources from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, November 20th. TheStreet cut shares of Targa Resources from a “c-” rating to a “d+” rating in a research note on Monday, November 13th. Finally, Wells Fargo & Co cut shares of Targa Resources from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Tuesday, November 7th.

In related news, VP John Richard Klein sold 2,292 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of TRGP. Vanguard Group Inc. increased its holdings in Targa Resources by 17.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,768,732 shares of the pipeline company’s stock worth $848,347,000 after acquiring an additional 2,823,104 shares in the last quarter. Harvest Fund Advisors LLC increased its holdings in Targa Resources by 40.8% in the 3rd quarter. Harvest Fund Advisors LLC now owns 4,990,690 shares of the pipeline company’s stock worth $236,060,000 after acquiring an additional 1,446,438 shares in the last quarter. BlackRock Inc. increased its holdings in Targa Resources by 13.3% in the 2nd quarter. BlackRock Inc. now owns 11,428,578 shares of the pipeline company’s stock worth $516,575,000 after acquiring an additional 1,338,025 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Targa Resources by 4,386.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,090,734 shares of the pipeline company’s stock worth $49,301,000 after acquiring an additional 1,066,420 shares in the last quarter. Finally, State Street Corp increased its holdings in Targa Resources by 12.9% in the 2nd quarter. State Street Corp now owns 4,295,711 shares of the pipeline company’s stock worth $194,165,000 after acquiring an additional 490,077 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

Shares of Targa Resources (TRGP) traded up $1.30 during midday trading on Monday, reaching $50.82. 2,319,129 shares of the company’s stock traded hands, compared to its average volume of 2,075,229. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74. Targa Resources has a twelve month low of $39.59 and a twelve month high of $61.83. The firm has a market cap of $10,940.00, a PE ratio of -20.01 and a beta of 2.22.

COPYRIGHT VIOLATION NOTICE: “Brokerages Set Targa Resources Corp (TRGP) PT at $54.18” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/brokerages-set-targa-resources-corp-trgp-pt-at-54-18/1803219.html.

Targa Resources Company Profile

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)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.