Targa Resources (NYSE:TRGP) Earns Neutral Rating from Seaport Research Partners

Targa Resources (NYSE:TRGP)‘s stock had its “neutral” rating reiterated by Seaport Research Partners in a note issued to investors on Monday,Benzinga reports.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Targa Resources from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. UBS Group upped their price target on shares of Targa Resources from $228.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $241.00 price target on shares of Targa Resources in a research note on Friday, February 20th. The Goldman Sachs Group upped their price target on shares of Targa Resources from $242.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Weiss Ratings raised shares of Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.93.

Targa Resources Stock Up 0.1%

Shares of Targa Resources stock opened at $254.56 on Monday. The company has a market cap of $54.68 billion, a P/E ratio of 29.63, a PEG ratio of 1.64 and a beta of 0.75. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67. Targa Resources has a one year low of $144.14 and a one year high of $260.49. The firm has a fifty day moving average of $240.75 and a two-hundred day moving average of $202.03.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. On average, analysts forecast that Targa Resources will post 10.32 earnings per share for the current year.

Insider Transactions at Targa Resources

In related news, Director Lindsey Cooksen sold 435 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $231.72, for a total value of $100,798.20. Following the sale, the director directly owned 11,670 shares of the company’s stock, valued at approximately $2,704,172.40. This represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the completion of the sale, the insider directly owned 197,401 shares in the company, valued at approximately $47,640,757.34. The trade was a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,929 shares of company stock worth $24,692,134 in the last 90 days. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Targa Resources

A number of large investors have recently added to or reduced their stakes in TRGP. Woodline Partners LP grew its stake in Targa Resources by 40.7% in the 1st quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock valued at $3,693,000 after acquiring an additional 5,327 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of Targa Resources by 157.4% during the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock worth $788,000 after purchasing an additional 2,404 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Targa Resources by 6.3% during the 2nd quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock worth $644,000 after purchasing an additional 219 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Targa Resources by 13.1% during the 2nd quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock worth $787,000 after purchasing an additional 524 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Targa Resources by 11.0% during the 2nd quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock worth $5,550,000 after purchasing an additional 3,163 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.