Mizuho Issues Positive Forecast for Targa Resources (NYSE:TRGP) Stock Price

Targa Resources (NYSE:TRGP) had its price target upped by equities researchers at Mizuho from $208.00 to $226.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price target indicates a potential upside of 15.36% from the company’s previous close.

A number of other brokerages have also recently issued reports on TRGP. Stifel Nicolaus upped their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial dropped their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. The Goldman Sachs Group lifted their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group upped their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley raised their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $196.07.

Targa Resources Stock Down 6.8 %

Shares of NYSE:TRGP traded down $14.38 during midday trading on Thursday, hitting $195.92. The stock had a trading volume of 841,883 shares, compared to its average volume of 1,414,431. The company has a market cap of $42.72 billion, a P/E ratio of 35.58, a PEG ratio of 0.62 and a beta of 2.29. Targa Resources has a 12 month low of $95.88 and a 12 month high of $218.51. The business’s 50-day simple moving average is $195.20 and its 200-day simple moving average is $175.21. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Institutional Investors Weigh In On Targa Resources

Large investors have recently bought and sold shares of the company. Snowden Capital Advisors LLC lifted its holdings in shares of Targa Resources by 2.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock worth $473,000 after acquiring an additional 53 shares during the period. Coldstream Capital Management Inc. raised its position in Targa Resources by 0.9% during the third quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares in the last quarter. Finally, Keybank National Association OH increased its stake in shares of Targa Resources by 0.4% in the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 70 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.