US Capital Advisors Downgrades Targa Resources (NYSE:TRGP) to Hold

Targa Resources (NYSE:TRGP) was downgraded by analysts at US Capital Advisors from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for Targa Resources’ Q4 2024 earnings at $1.88 EPS, FY2024 earnings at $6.25 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $9.27 EPS.

TRGP has been the subject of several other reports. UBS Group upped their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada upped their target price on shares of Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their target price on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources presently has an average rating of “Buy” and a consensus price target of $176.50.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $201.39 on Tuesday. The firm has a fifty day simple moving average of $172.39 and a 200-day simple moving average of $146.01. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources has a 1-year low of $81.03 and a 1-year high of $209.87. The stock has a market capitalization of $43.92 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the company earned $0.97 earnings per share. On average, sell-side analysts expect that Targa Resources will post 6.23 earnings per share for the current year.

Insider Transactions at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the sale, the insider now owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. This represents a 1.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,760 shares of company stock valued at $30,026,712. 1.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Targa Resources

Hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP bought a new stake in Targa Resources during the 2nd quarter worth about $2,323,000. Cetera Investment Advisers boosted its stake in shares of Targa Resources by 215.2% in the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company’s stock valued at $3,478,000 after purchasing an additional 21,200 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Targa Resources in the 1st quarter valued at about $1,151,000. Braun Stacey Associates Inc. bought a new position in shares of Targa Resources in the 3rd quarter valued at about $11,042,000. Finally, Metis Global Partners LLC boosted its stake in shares of Targa Resources by 12.7% in the 3rd quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company’s stock valued at $3,784,000 after purchasing an additional 2,890 shares during the last quarter. Institutional investors own 92.13% 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 complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.