Targa Resources (NYSE:TRGP) Given New $213.00 Price Target at Royal Bank Of Canada

Targa Resources (NYSE:TRGP) had its price objective raised by Royal Bank Of Canada from $208.00 to $213.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 26.20% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Targa Resources from $240.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Mizuho decreased their target price on shares of Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. The Goldman Sachs Group lowered their target price on shares of Targa Resources from $189.00 to $188.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. JPMorgan Chase & Co. raised their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Finally, BMO Capital Markets boosted their price objective on Targa Resources from $185.00 to $196.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.21.

Targa Resources Stock Up 0.3%

Targa Resources stock traded up $0.47 during midday trading on Tuesday, reaching $168.79. The stock had a trading volume of 294,444 shares, compared to its average volume of 1,765,880. The company has a fifty day moving average price of $161.91 and a two-hundred day moving average price of $164.51. Targa Resources has a 12 month low of $144.14 and a 12 month high of $218.51. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93. The company has a market capitalization of $36.23 billion, a P/E ratio of 23.90, a PEG ratio of 0.91 and a beta of 1.16.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. As a group, equities analysts expect that Targa Resources will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Targa Resources

Several hedge funds have recently modified their holdings of the company. Peoples Financial Services CORP. bought a new position in shares of Targa Resources in the third quarter valued at approximately $34,000. Disciplina Capital Management LLC bought a new stake in Targa Resources during the first quarter worth $46,000. Root Financial Partners LLC purchased a new position in Targa Resources in the third quarter worth $39,000. Avion Wealth boosted its position in Targa Resources by 475.0% in the third quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. Finally, First Horizon Corp bought a new position in Targa Resources in the 3rd quarter valued at $47,000. 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.