Targa Resources (NYSE:TRGP) Price Target Raised to $227.00 at Citigroup

Targa Resources (NYSE:TRGP) had its price objective increased by analysts at Citigroup from $218.00 to $227.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the pipeline company’s stock. Citigroup’s price objective points to a potential upside of 14.54% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Mizuho boosted their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus boosted their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company lifted their price objective on Targa Resources from $204.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Scotiabank began coverage on Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 target price for the company. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Targa Resources has a consensus rating of “Buy” and a consensus price target of $205.43.

Targa Resources Trading Down 1.1 %

Targa Resources stock opened at $198.19 on Tuesday. Targa Resources has a one year low of $95.88 and a one year high of $218.51. The company’s fifty day moving average price is $196.21 and its two-hundred day moving average price is $176.96. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 0.61 and a beta of 2.29.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. On average, analysts forecast that Targa Resources will post 8.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Targa Resources

Several institutional investors and hedge funds have recently bought and sold shares of TRGP. MML Investors Services LLC grew its stake in shares of Targa Resources by 65.1% in the 3rd quarter. MML Investors Services LLC now owns 25,615 shares of the pipeline company’s stock valued at $3,791,000 after purchasing an additional 10,100 shares during the period. Nordea Investment Management AB grew its position in Targa Resources by 85.7% in the fourth quarter. Nordea Investment Management AB now owns 28,530 shares of the pipeline company’s stock valued at $5,070,000 after acquiring an additional 13,167 shares during the period. Capital Investment Advisors LLC raised its stake in Targa Resources by 191.4% during the fourth quarter. Capital Investment Advisors LLC now owns 8,268 shares of the pipeline company’s stock worth $1,476,000 after acquiring an additional 5,431 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at $271,000. Finally, Braun Stacey Associates Inc. bought a new position in shares of Targa Resources during the third quarter valued at $11,042,000. Institutional investors own 92.13% 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 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.