US Capital Advisors Downgrades Targa Resources (NYSE:TRGP) to Hold

Targa Resources (NYSE:TRGP) was downgraded by stock analysts at US Capital Advisors from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for Targa Resources’ Q4 2024 earnings at $1.88 EPS, FY2024 earnings at $6.25 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $9.27 EPS.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus increased their target price on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Morgan Stanley lifted their target price on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada raised their price objective on Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Barclays boosted their target price on shares of Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $176.50.

Targa Resources Trading Up 1.2 %

Shares of NYSE TRGP opened at $203.42 on Tuesday. Targa Resources has a twelve month low of $81.03 and a twelve month high of $209.87. The firm has a market cap of $44.36 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 0.80 and a beta of 2.24. The business has a fifty day simple moving average of $171.40 and a two-hundred day simple moving average of $145.62. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the company posted $0.97 earnings per share. Analysts expect that Targa Resources will post 6.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the sale, the director now owns 110,470 shares of the company’s stock, valued at approximately $17,181,399.10. The trade was a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the completion of the sale, the chief accounting officer now owns 35,143 shares in the company, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,760 shares of company stock worth $30,026,712. Company insiders own 1.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Targa Resources in the second quarter worth approximately $29,000. DT Investment Partners LLC acquired a new stake in Targa Resources during the third quarter worth about $29,000. UMB Bank n.a. raised its stake in Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 222 shares during the period. Prospera Private Wealth LLC acquired a new position in Targa Resources in the 3rd quarter valued at about $35,000. Finally, Whittier Trust Co. purchased a new stake in shares of Targa Resources in the 2nd quarter valued at approximately $44,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved 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; and gathering, storing, terminaling, purchasing, and selling crude oil.