Targa Resources (NYSE:TRGP) was upgraded by research analysts at US Capital Advisors from a “hold” rating to an “overweight” rating in a report issued on Monday, The Fly reports.

TRGP has been the subject of a number of other research reports. Zacks Investment Research downgraded Targa Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Wells Fargo & Co upgraded Targa Resources from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $63.00 in a research report on Tuesday, September 18th. Barclays upgraded Targa Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $65.00 in a research report on Wednesday, October 3rd. UBS Group increased their price objective on Targa Resources from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Raymond James increased their price objective on Targa Resources from $58.00 to $64.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Targa Resources presently has an average rating of “Buy” and a consensus price target of $58.32.

NYSE TRGP traded up $0.36 on Monday, reaching $47.86. 20,422 shares of the stock traded hands, compared to its average volume of 2,176,157. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a market cap of $10.89 billion, a P/E ratio of -111.28 and a beta of 1.95. Targa Resources has a 12 month low of $41.03 and a 12 month high of $59.21.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, November 8th. The pipeline company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Targa Resources had a net margin of 3.42% and a return on equity of 1.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, research analysts predict that Targa Resources will post 0.39 earnings per share for the current fiscal year.

In other news, VP John Richard Klein sold 984 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $55.63, for a total value of $54,739.92. Following the completion of the sale, the vice president now owns 23,988 shares in the company, valued at $1,334,452.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.76% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. B. Riley Wealth Management Inc. acquired a new position in Targa Resources during the third quarter worth $917,000. Nordea Investment Management AB increased its position in Targa Resources by 74.2% during the third quarter. Nordea Investment Management AB now owns 14,550 shares of the pipeline company’s stock worth $819,000 after buying an additional 6,196 shares during the last quarter. Cohen & Steers Inc. increased its position in Targa Resources by 1,113.0% during the third quarter. Cohen & Steers Inc. now owns 1,882,318 shares of the pipeline company’s stock worth $105,993,000 after buying an additional 1,727,135 shares during the last quarter. Advisors Asset Management Inc. increased its position in Targa Resources by 129.3% during the third quarter. Advisors Asset Management Inc. now owns 3,985 shares of the pipeline company’s stock worth $224,000 after buying an additional 2,247 shares during the last quarter. Finally, Athanor Capital LP acquired a new position in Targa Resources during the third quarter worth $4,223,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Analyst Recommendations for Targa Resources (NYSE:TRGP)

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