Targa Resources (NYSE:TRGP) had its price objective decreased by Credit Suisse Group from $60.00 to $52.00 in a report issued on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the pipeline company’s stock.

A number of other equities research analysts have also recently commented on TRGP. US Capital Advisors raised Targa Resources from a hold rating to an overweight rating in a report on Monday, November 19th. ValuEngine lowered Targa Resources from a buy rating to a hold rating in a research report on Friday, November 23rd. Mizuho began coverage on Targa Resources in a research report on Wednesday, November 28th. They set a neutral rating and a $56.00 price objective for the company. Citigroup lowered Targa Resources from a buy rating to a neutral rating and cut their price objective for the company from $56.00 to $45.00 in a research report on Thursday, November 29th. Finally, Wells Fargo & Co restated a buy rating on shares of Targa Resources in a research report on Wednesday, December 12th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $55.71.

NYSE:TRGP opened at $40.04 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.45 and a debt-to-equity ratio of 0.75. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 200.20 and a beta of 2.04. Targa Resources has a 52 week low of $33.55 and a 52 week high of $59.21.

The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Thursday, January 31st were given a $0.91 dividend. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $3.64 annualized dividend and a yield of 9.09%. Targa Resources’s dividend payout ratio is currently 1,820.00%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its position in Targa Resources by 4.5% in the third quarter. Vanguard Group Inc now owns 20,089,479 shares of the pipeline company’s stock worth $1,131,238,000 after acquiring an additional 860,247 shares in the last quarter. BlackRock Inc. grew its position in Targa Resources by 1.8% in the fourth quarter. BlackRock Inc. now owns 13,209,410 shares of the pipeline company’s stock worth $475,803,000 after acquiring an additional 237,329 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in Targa Resources by 10.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,699,540 shares of the pipeline company’s stock worth $349,377,000 after acquiring an additional 955,152 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its position in Targa Resources by 2.9% in the third quarter. Kayne Anderson Capital Advisors LP now owns 8,120,361 shares of the pipeline company’s stock worth $457,242,000 after acquiring an additional 231,100 shares in the last quarter. Finally, Zimmer Partners LP grew its position in Targa Resources by 3.9% in the third quarter. Zimmer Partners LP now owns 6,606,236 shares of the pipeline company’s stock worth $371,997,000 after acquiring an additional 247,836 shares in the last quarter. Institutional investors own 93.44% 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, 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.

See Also: Current Ratio

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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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