Targa Resources (NYSE:TRGP) Given a $54.00 Price Target by UBS Group Analysts

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Targa Resources (NYSE:TRGP) has been assigned a $54.00 target price by investment analysts at UBS Group in a research report issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the pipeline company’s stock. UBS Group’s price target would indicate a potential upside of 52.71% from the stock’s current price.

Other research analysts also recently issued reports about the company. SunTrust Banks set a $45.00 target price on Targa Resources and gave the stock a “buy” rating in a report on Friday, August 9th. Credit Suisse Group cut their target price on Targa Resources from $49.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday. ValuEngine raised Targa Resources from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Zacks Investment Research raised Targa Resources from a “strong sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada cut their target price on Targa Resources to $51.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.35.

TRGP traded up $1.28 during midday trading on Friday, hitting $35.36. 1,929,543 shares of the company were exchanged, compared to its average volume of 2,363,064. The firm has a market capitalization of $7.70 billion, a P/E ratio of 176.80 and a beta of 1.76. Targa Resources has a 1-year low of $32.79 and a 1-year high of $59.21. The firm’s 50 day moving average price is $38.64 and its 200-day moving average price is $40.15. The company has a quick ratio of 0.48, a current ratio of 0.73 and a debt-to-equity ratio of 0.74.

Several large investors have recently made changes to their positions in TRGP. Cerebellum GP LLC bought a new stake in Targa Resources during the 1st quarter worth approximately $27,000. HM Payson & Co. bought a new stake in Targa Resources during the 2nd quarter worth approximately $28,000. Arlington Partners LLC bought a new stake in Targa Resources during the 2nd quarter worth approximately $29,000. Strategy Asset Managers LLC bought a new stake in Targa Resources during the 1st quarter worth approximately $36,000. Finally, Personal Wealth Partners bought a new stake in Targa Resources during the 2nd quarter worth approximately $36,000. 90.91% of the stock is currently owned by institutional investors.

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, 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; 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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