Targa Resources (NYSE:TRGP) PT Raised to $145.00 at JPMorgan Chase & Co.

Targa Resources (NYSE:TRGP) had its target price increased by stock analysts at JPMorgan Chase & Co. from $140.00 to $145.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.52% from the company’s current price.

A number of other brokerages also recently issued reports on TRGP. Morgan Stanley increased their price objective on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus increased their price objective on Targa Resources from $111.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Argus began coverage on Targa Resources in a research note on Wednesday, June 26th. They issued a “buy” rating and a $140.00 target price on the stock. Barclays increased their target price on Targa Resources from $116.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company increased their target price on Targa Resources from $109.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.08.

Targa Resources Trading Up 2.0 %

NYSE:TRGP opened at $133.62 on Tuesday. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62. Targa Resources has a 1 year low of $74.95 and a 1 year high of $133.78. The company has a market cap of $29.63 billion, a P/E ratio of 27.49, a P/E/G ratio of 0.76 and a beta of 2.27. The stock’s fifty day moving average price is $119.03 and its two-hundred day moving average price is $104.96.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.28 billion. As a group, analysts expect that Targa Resources will post 5.27 EPS for the current year.

Insider Activity

In related news, CAO Julie H. Boushka sold 2,691 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $304,083.00. Following the sale, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at $6,466,764. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Julie H. Boushka sold 2,691 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $304,083.00. Following the sale, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at $6,466,764. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Muraro sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $120.08, for a total value of $1,200,800.00. Following the completion of the sale, the insider now directly owns 196,951 shares in the company, valued at $23,649,876.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,691 shares of company stock valued at $6,197,632. 1.44% of the stock is currently owned by insiders.

Institutional Trading of Targa Resources

Large investors have recently modified their holdings of the business. LPL Financial LLC lifted its holdings in Targa Resources by 8.3% in the third quarter. LPL Financial LLC now owns 57,779 shares of the pipeline company’s stock worth $4,953,000 after buying an additional 4,426 shares during the period. Trexquant Investment LP purchased a new stake in Targa Resources in the third quarter worth about $335,000. Qube Research & Technologies Ltd lifted its holdings in Targa Resources by 131.2% in the third quarter. Qube Research & Technologies Ltd now owns 67,606 shares of the pipeline company’s stock worth $5,795,000 after buying an additional 38,369 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Targa Resources by 142.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,806 shares of the pipeline company’s stock worth $841,000 after buying an additional 5,759 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Targa Resources by 63.0% during the third quarter. Advisors Asset Management Inc. now owns 6,801 shares of the pipeline company’s stock valued at $583,000 after purchasing an additional 2,629 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

Targa Resources Company Profile

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.