Targa Resources (NYSE:TRGP) Lowered to "Hold" Rating by US Capital Advisors

Targa Resources (NYSE:TRGP - Get Free Report) was downgraded by analysts at US Capital Advisors from a "moderate buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for Targa Resources' Q4 2024 earnings at $1.88 EPS, FY2024 earnings at $6.25 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $9.27 EPS.

TRGP has been the subject of a number of other reports. UBS Group increased their price target on shares of Targa Resources from $182.00 to $246.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Royal Bank of Canada boosted their target price 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. Truist Financial increased their price target on shares of Targa Resources from $175.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Morgan Stanley boosted their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Finally, Argus raised shares of Targa Resources to a "strong-buy" rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Targa Resources currently has an average rating of "Buy" and an average price target of $176.50.

Targa Resources Price Performance

NYSE TRGP opened at $203.42 on Tuesday. The firm's 50-day simple moving average is $171.40 and its two-hundred day simple moving average is $145.62. Targa Resources has a 52 week low of $81.03 and a 52 week high of $209.87. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market cap of $44.36 billion, a PE ratio of 36.78, a price-to-earnings-growth ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.17. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.97 earnings per share. Research analysts predict that Targa Resources will post 6.23 earnings per share for the current year.

Insider Buying and Selling at Targa Resources

In related news, insider Robert Muraro sold 2,500 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now owns 174,451 shares of the company's stock, valued at approximately $25,504,736.20. This trade represents a 1.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.74, for a total transaction of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares of the company's stock, valued at approximately $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,760 shares of company stock valued at $30,026,712 over the last ninety days. 1.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caxton Associates LP bought a new position in Targa Resources during the second quarter valued at approximately $2,323,000. Cetera Investment Advisers boosted its position in shares of Targa Resources by 215.2% during the 1st quarter. Cetera Investment Advisers now owns 31,052 shares of the pipeline company's stock valued at $3,478,000 after acquiring an additional 21,200 shares during the last quarter. Virtu Financial LLC purchased a new stake in Targa Resources during the first quarter valued at $1,151,000. Braun Stacey Associates Inc. bought a new position in Targa Resources during the third quarter valued at $11,042,000. Finally, Metis Global Partners LLC grew its stake in shares of Targa Resources by 12.7% in the 3rd quarter. Metis Global Partners LLC now owns 25,569 shares of the pipeline company's stock worth $3,784,000 after buying an additional 2,890 shares in the last quarter. Institutional investors own 92.13% of the company's stock.

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.

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