Targa Resources (TRGP) Now Covered by Credit Suisse Group

Credit Suisse Group initiated coverage on shares of Targa Resources (NYSE:TRGP) in a research report report published on Thursday, MarketBeat.com reports. The brokerage issued a neutral rating and a $46.00 price objective on the pipeline company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Citigroup downgraded shares of Targa Resources from a buy rating to a neutral rating and lowered their target price for the company from $54.00 to $52.00 in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Targa Resources from a sell rating to a hold rating in a research note on Wednesday, November 1st. TheStreet downgraded shares of Targa Resources from a c- rating to a d+ rating in a research note on Monday, November 13th. BidaskClub raised shares of Targa Resources from a hold rating to a buy rating in a research note on Saturday, September 16th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $53.00 target price on shares of Targa Resources in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $53.89.

Shares of Targa Resources (NYSE:TRGP) opened at $48.45 on Thursday. The firm has a market cap of $10,447.42, a P/E ratio of -18.21 and a beta of 2.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57. Targa Resources has a one year low of $39.59 and a one year high of $61.83.

In other news, VP John Richard Klein sold 2,292 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $41.85, for a total value of $95,920.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.93% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. CNH Partners LLC grew its holdings in shares of Targa Resources by 0.5% in the second quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock worth $981,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Targa Resources by 2.9% in the second quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 155 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Targa Resources by 3.6% in the second quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after purchasing an additional 317 shares during the last quarter. Frontier Wealth Management LLC grew its holdings in shares of Targa Resources by 6.2% in the second quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock worth $266,000 after purchasing an additional 344 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock worth $122,000 after purchasing an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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About Targa Resources

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.

Analyst Recommendations for Targa Resources (NYSE:TRGP)

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