Targa Resources (NYSE:TRGP) PT Raised to $95.00 at Truist Financial

Targa Resources (NYSE:TRGP – Get Rating) had its price target upped by Truist Financial from $90.00 to $95.00 in a report issued on Friday, The Fly reports. Truist Financial’s price objective would suggest a potential upside of 35.29% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of Targa Resources from $110.00 to $104.00 in a research note on Monday, May 8th. Mizuho raised their target price on shares of Targa Resources from $95.00 to $99.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Raymond James raised their target price on shares of Targa Resources from $95.00 to $100.00 and gave the company a “strong-buy” rating in a research note on Friday, April 21st. StockNews.com assumed coverage on shares of Targa Resources in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Capital One Financial reissued an “overweight” rating on shares of Targa Resources in a research note on Thursday, April 20th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $100.27.

Targa Resources Trading Up 0.8 %

NYSE:TRGP opened at $70.22 on Friday. The firm’s fifty day moving average is $72.47 and its 200-day moving average is $73.14. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.60 and a current ratio of 0.66. Targa Resources has a 52 week low of $55.56 and a 52 week high of $80.40. The firm has a market cap of $15.87 billion, a P/E ratio of 18.19 and a beta of 2.28.

Targa Resources (NYSE:TRGP – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The pipeline company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.09. Targa Resources had a net margin of 5.43% and a return on equity of 24.05%. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $5.38 billion. Equities analysts expect that Targa Resources will post 5.73 earnings per share for the current year.

Hedge Funds Weigh In On Targa Resources

A number of hedge funds have recently bought and sold shares of the business. Cetera Advisor Networks LLC purchased a new stake in Targa Resources during the 1st quarter valued at approximately $250,000. PNC Financial Services Group Inc. lifted its position in shares of Targa Resources by 5.3% during the first quarter. PNC Financial Services Group Inc. now owns 14,741 shares of the pipeline company’s stock worth $1,112,000 after purchasing an additional 737 shares during the last quarter. Sei Investments Co. lifted its position in shares of Targa Resources by 11.6% during the first quarter. Sei Investments Co. now owns 186,471 shares of the pipeline company’s stock worth $14,072,000 after purchasing an additional 19,372 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Targa Resources during the first quarter valued at $249,000. Finally, Covestor Ltd increased its stake in shares of Targa Resources by 91.8% during the first quarter. Covestor Ltd now owns 1,429 shares of the pipeline company’s stock valued at $108,000 after buying an additional 684 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

About Targa Resources

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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation.