Jefferies Group LLC upgraded shares of Targa Resources, Inc. (NYSE:TRGP) from a hold rating to a buy rating in a report published on Wednesday morning, MarketBeat Ratings reports. Jefferies Group LLC currently has $50.00 target price on the pipeline company’s stock, down from their previous target price of $54.00.

A number of other brokerages have also issued reports on TRGP. BMO Capital Markets restated a hold rating and set a $49.00 target price on shares of Targa Resources in a research report on Monday, April 17th. Guggenheim began coverage on shares of Targa Resources in a research report on Monday, April 17th. They set a neutral rating and a $54.00 target price on the stock. Deutsche Bank AG restated a buy rating and set a $69.00 target price on shares of Targa Resources in a research report on Wednesday, March 29th. Macquarie began coverage on shares of Targa Resources in a report on Friday, April 21st. They set an outperform rating and a $65.00 price target for the company. Finally, Seaport Global Securities raised shares of Targa Resources from a neutral rating to a buy rating and set a $63.00 price target for the company in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Targa Resources currently has an average rating of Buy and an average price target of $55.05.

Shares of Targa Resources (TRGP) traded up 2.285% on Wednesday, reaching $46.785. 759,452 shares of the company’s stock were exchanged. Targa Resources has a 12 month low of $35.35 and a 12 month high of $61.83. The company’s market cap is $9.27 billion. The firm’s 50-day moving average price is $46.09 and its 200 day moving average price is $54.40.

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A number of institutional investors have recently modified their holdings of TRGP. Eqis Capital Management Inc. increased its position in shares of Targa Resources by 7.7% in the second quarter. Eqis Capital Management Inc. now owns 5,904 shares of the pipeline company’s stock valued at $267,000 after buying an additional 420 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Targa Resources by 623.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 34,982 shares of the pipeline company’s stock valued at $1,581,000 after buying an additional 30,149 shares during the last quarter. Texan Capital Management bought a new position in shares of Targa Resources during the second quarter valued at approximately $576,000. Baldwin Brothers Inc. MA increased its position in shares of Targa Resources by 0.7% in the second quarter. Baldwin Brothers Inc. MA now owns 15,278 shares of the pipeline company’s stock valued at $691,000 after buying an additional 100 shares during the last quarter. Finally, National Pension Service increased its position in shares of Targa Resources by 10.0% in the second quarter. National Pension Service now owns 202,836 shares of the pipeline company’s stock valued at $8,890,000 after buying an additional 18,424 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.

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)

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