Goldman Sachs Group Inc. upgraded shares of Targa Resources Corp (NYSE:TRGP) from a neutral rating to a buy rating in a research note issued to investors on Monday morning. The firm currently has $52.00 price objective on the stock, up from their previous price objective of $41.00.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Targa Resources Corp from a hold rating to a buy rating and set a $48.00 price target on the stock in a research note on Tuesday, May 24th. Stifel Nicolaus increased their price target on shares of Targa Resources Corp from $43.00 to $48.00 and gave the stock a buy rating in a research note on Monday, August 22nd. Evercore ISI started coverage on shares of Targa Resources Corp in a research note on Thursday, September 15th. They set a hold rating and a $45.00 price target on the stock. Wunderlich increased their price target on shares of Targa Resources Corp from $44.00 to $45.00 and gave the stock a hold rating in a research note on Wednesday, August 31st. Finally, JPMorgan Chase & Co. restated a hold rating on shares of Targa Resources Corp in a research note on Thursday, June 16th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Targa Resources Corp currently has an average rating of Hold and an average price target of $46.68.

Shares of Targa Resources Corp (NYSE:TRGP) opened at 48.13 on Monday. The stock has a 50 day moving average of $43.54 and a 200-day moving average of $39.14. Targa Resources Corp has a 52 week low of $14.55 and a 52 week high of $66.87. The firm’s market cap is $8.02 billion.

Targa Resources Corp (NYSE:TRGP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.07. Equities research analysts expect that Targa Resources Corp will post ($0.30) earnings per share for the current year.

In other news, insider D. Scott Pryor sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $37.66, for a total transaction of $282,450.00. Following the completion of the transaction, the insider now directly owns 60,553 shares of the company’s stock, valued at approximately $2,280,425.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey J. Mcparland sold 25,100 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $45.50, for a total transaction of $1,142,050.00. Following the transaction, the insider now directly owns 145,983 shares of the company’s stock, valued at $6,642,226.50. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC increased its position in Targa Resources Corp by 1.3% in the second quarter. Bollard Group LLC now owns 2,418 shares of the company’s stock worth $102,000 after buying an additional 31 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Targa Resources Corp by 73.4% in the second quarter. Glenmede Trust Co. NA now owns 4,217 shares of the company’s stock valued at $176,000 after buying an additional 1,785 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Targa Resources Corp by 703.4% in the second quarter. Proficio Capital Partners LLC now owns 5,158 shares of the company’s stock valued at $192,000 after buying an additional 4,516 shares in the last quarter. Advisor Group Inc. purchased a new position in shares of Targa Resources Corp during the second quarter valued at about $199,000. Finally, E&G Advisors LP purchased a new position in shares of Targa Resources Corp during the second quarter valued at about $208,000.

About Targa Resources Corp

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products.

5 Day Chart for NYSE:TRGP

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