Stifel Nicolaus reiterated their buy rating on shares of Targa Resources, Inc. (NYSE:TRGP) in a research note issued to investors on Monday, July 17th. The firm currently has a $54.00 price objective on the pipeline company’s stock, down from their prior price objective of $63.00.
Several other analysts have also recently weighed in on the company. Guggenheim initiated coverage on Targa Resources in a report on Monday, April 17th. They set a neutral rating and a $54.00 price target for the company. Macquarie initiated coverage on Targa Resources in a report on Friday, April 21st. They set an outperform rating and a $65.00 price target for the company. Credit Suisse Group set a $56.00 price target on Targa Resources and gave the stock a neutral rating in a report on Friday, May 5th. BMO Capital Markets reissued a hold rating and set a $49.00 price target on shares of Targa Resources in a report on Monday, April 17th. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $69.00 price objective on shares of Targa Resources in a report on Wednesday, March 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $54.16.
Shares of Targa Resources (NYSE TRGP) traded down 0.39% on Monday, hitting $45.83. The company had a trading volume of 1,267,670 shares. The firm has a 50-day moving average price of $44.61 and a 200 day moving average price of $52.60. Targa Resources has a 12-month low of $35.35 and a 12-month high of $61.83. The company’s market capitalization is $9.08 billion.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.91 per share. The ex-dividend date is Friday, July 28th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.94%.
Institutional investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new position in Targa Resources during the second quarter worth approximately $105,000. Bollard Group LLC raised its stake in shares of Targa Resources by 1.1% in the second quarter. Bollard Group LLC now owns 2,526 shares of the pipeline company’s stock worth $114,000 after buying an additional 27 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Targa Resources by 29.1% in the first quarter. Van ECK Associates Corp now owns 2,181 shares of the pipeline company’s stock worth $131,000 after buying an additional 491 shares in the last quarter. Fayez Sarofim & Co purchased a new stake in shares of Targa Resources during the first quarter worth $204,000. Finally, Johnson Financial Group LLC raised its stake in shares of Targa Resources by 5.2% in the second quarter. Johnson Financial Group LLC now owns 4,646 shares of the pipeline company’s stock worth $209,000 after buying an additional 228 shares in the last quarter. 80.01% of the stock is owned by institutional investors.
Targa Resources Company Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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