Shares of Targa Resources Corp (NYSE:TRGP) have received an average recommendation of “Buy” from the twenty-three brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $54.80.
TRGP has been the topic of several research reports. Evercore ISI reissued an “in-line” rating on shares of Targa Resources in a research note on Wednesday, April 24th. ValuEngine raised shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Zacks Investment Research cut shares of Targa Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, April 25th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Targa Resources in a report on Friday, March 8th. Finally, Seaport Global Securities raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, January 29th.
In other Targa Resources news, Director Robert B. Evans bought 51,420 shares of Targa Resources stock in a transaction on Friday, May 10th. The stock was acquired at an average cost of $39.38 per share, with a total value of $2,024,919.60. Following the completion of the acquisition, the director now owns 38,506 shares in the company, valued at $1,516,366.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.86% of the stock is owned by insiders.
Shares of TRGP opened at $40.46 on Thursday. The stock has a market cap of $9.41 billion, a PE ratio of 202.30 and a beta of 2.01. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.48 and a current ratio of 0.58. Targa Resources has a 1-year low of $33.55 and a 1-year high of $59.21.
Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, May 8th. The pipeline company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.16). The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.44 billion. Targa Resources had a negative net margin of 0.58% and a positive return on equity of 1.45%. Research analysts expect that Targa Resources will post -0.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.91 per share. The ex-dividend date was Tuesday, April 30th. This represents a $3.64 annualized dividend and a dividend yield of 9.00%. Targa Resources’s payout ratio is 1,820.00%.
Targa Resources Company Profile
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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