Targa Resources, Inc. (NYSE:TRGP) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Monday.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $54.00 price objective (down from $63.00) on shares of Targa Resources in a research report on Monday, July 17th. Guggenheim raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, August 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $49.00 price objective (down from $50.00) on shares of Targa Resources in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Targa Resources in a research note on Monday, August 21st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $53.00 target price on shares of Targa Resources in a research note on Sunday, September 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Targa Resources presently has a consensus rating of “Hold” and a consensus price target of $54.44.

Shares of Targa Resources (NYSE TRGP) opened at $41.56 on Monday. Targa Resources has a 52-week low of $39.59 and a 52-week high of $61.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57.

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Several hedge funds have recently made changes to their positions in the stock. Bollard Group LLC lifted its stake in shares of Targa Resources by 1.1% during the 2nd quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock valued at $114,000 after buying an additional 27 shares in the last quarter. CNH Partners LLC lifted its stake in shares of Targa Resources by 0.5% during the 2nd quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock valued at $981,000 after buying an additional 100 shares in the last quarter. Nordea Investment Management AB increased its holdings in Targa Resources by 2.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 155 shares during the period. Usca Ria LLC increased its holdings in Targa Resources by 3.7% during the 2nd quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 178 shares during the period. Finally, Johnson Financial Group LLC increased its holdings in Targa Resources by 5.2% during the 2nd quarter. Johnson Financial Group LLC now owns 4,646 shares of the pipeline company’s stock worth $209,000 after acquiring an additional 228 shares during the period. Institutional investors own 86.84% of the company’s stock.

Targa Resources Company Profile

Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

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