Targa Resources (NYSE:TRGP) Price Target Raised to $204.00 at Barclays

Targa Resources (NYSE:TRGP - Free Report) had its target price boosted by Barclays from $171.00 to $204.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the pipeline company's stock.

Other analysts have also recently issued reports about the company. Truist Financial dropped their price target on Targa Resources from $225.00 to $220.00 and set a "buy" rating for the company in a report on Friday, December 13th. Morgan Stanley lifted their target price on Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. 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. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $189.21.

Targa Resources Stock Performance

Shares of Targa Resources stock traded up $3.96 during trading on Monday, hitting $197.26. 1,435,674 shares of the stock were exchanged, compared to its average volume of 1,466,552. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The company has a fifty day moving average price of $189.74 and a 200-day moving average price of $161.75. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 35.67, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. Targa Resources has a 1-year low of $81.03 and a 1-year high of $209.87.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.17. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, equities analysts predict that Targa Resources will post 6.26 EPS for the current fiscal year.

Insider Activity at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 3,260 shares of Targa Resources stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.74, for a total transaction of $621,812.40. Following the transaction, the chief accounting officer now directly owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider D. Scott Pryor sold 30,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the completion of the sale, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Targa Resources by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company's stock valued at $2,235,927,000 after purchasing an additional 633,589 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Targa Resources in the 2nd quarter valued at $72,345,000. Dimensional Fund Advisors LP lifted its position in shares of Targa Resources by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company's stock valued at $296,647,000 after acquiring an additional 271,444 shares during the period. National Bank of Canada FI boosted its stake in Targa Resources by 75.4% during the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company's stock worth $89,413,000 after acquiring an additional 259,776 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Targa Resources by 599.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company's stock worth $42,619,000 after purchasing an additional 246,762 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

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.