Targa Resources (NYSE:TRGP) had its target price reduced by Robert W. Baird from $49.00 to $43.00 in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Robert W. Baird’s target price would indicate a potential upside of 17.71% from the stock’s current price.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Targa Resources from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. UBS Group set a $54.00 target price on shares of Targa Resources and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America set a $44.00 target price on Targa Resources and gave the company a “buy” rating in a research report on Tuesday, September 10th. ValuEngine cut Targa Resources from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Capital One Financial lowered Targa Resources from an “overweight” rating to an “equal weight” rating and set a $42.00 price target for the company. in a research note on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.58.

Shares of NYSE:TRGP opened at $36.53 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.83. Targa Resources has a 12-month low of $32.00 and a 12-month high of $48.78. The business has a 50 day moving average of $39.07 and a two-hundred day moving average of $38.72. The company has a market capitalization of $8.50 billion, a PE ratio of 182.65 and a beta of 1.78.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). Targa Resources had a negative return on equity of 0.45% and a negative net margin of 2.31%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $2.25 billion. Equities research analysts predict that Targa Resources will post -0.92 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Duff & Phelps Investment Management Co. lifted its position in shares of Targa Resources by 1.1% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,555,774 shares of the pipeline company’s stock valued at $61,080,000 after acquiring an additional 16,725 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Targa Resources by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 4,810,946 shares of the pipeline company’s stock valued at $188,876,000 after buying an additional 262,251 shares during the last quarter. World Asset Management Inc raised its position in shares of Targa Resources by 4.1% in the second quarter. World Asset Management Inc now owns 7,887 shares of the pipeline company’s stock valued at $310,000 after buying an additional 312 shares during the last quarter. Waddell & Reed Financial Inc. lifted its stake in shares of Targa Resources by 6.0% in the second quarter. Waddell & Reed Financial Inc. now owns 467,158 shares of the pipeline company’s stock worth $18,341,000 after buying an additional 26,337 shares in the last quarter. Finally, Griffin Asset Management Inc. lifted its stake in shares of Targa Resources by 35.1% in the third quarter. Griffin Asset Management Inc. now owns 70,383 shares of the pipeline company’s stock worth $2,827,000 after buying an additional 18,276 shares in the last quarter. Institutional investors own 95.42% of the company’s stock.

Targa Resources Company Profile

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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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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