Goldman Sachs Group Inc. Upgrades Targa Resources Partners LP (NGLS) to “Buy”
Targa Resources Partners LP (NYSE:NGLS) was upgraded by equities researchers at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $52.00 target price on the stock, up from their prior target price of $41.00. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 388.26% from the stock’s previous close.
NGLS has been the topic of several other research reports. Stifel Nicolaus reaffirmed a “hold” rating on shares of Targa Resources Partners in a research report on Tuesday, May 31st. Wunderlich reaffirmed a “hold” rating and set a $45.00 price target (up previously from $44.00) on shares of Targa Resources Partners in a research report on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.00.
An institutional investor recently raised its position in Targa Resources Partners stock. Texan Capital Management raised its position in Targa Resources Partners LP (NYSE:NGLS) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,989 shares of the company’s stock after buying an additional 341 shares during the period. Texan Capital Management’s holdings in Targa Resources Partners were worth $547,000 as of its most recent SEC filing.
Targa Resources Partners Company Profile
Targa Resources Partners LP is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States with a presence in crude oil gathering and petroleum terminaling. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to liquefied petroleum gas (LPG) exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products.
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