Targa Resources (NYSE:TRGP) Stock Upgrade
Shares of Targa Resources (NYSE:TRGP) were upgraded by stock research analysts at Jefferies from a “Underperform” rating to a solid “Hold” rating via a comprehensive report sent to investors and clients on 18 December.
From a total of 15 analysts covering Targa Resources (NYSE:TRGP) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $105 while the lowest target price is $38. The mean of all analyst targets is $63.27 with a 177.98% above today’s ($26.34) stock price. Targa Resources was the topic of 12 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 4 with “Outperform” rating.
Approximately 408,014 shares of stock traded hands. Targa Resources Corp (NYSE:TRGP) has declined 73.90% since May 15, 2015 and is downtrending. It has underperformed by 70.09% the S&P500.
The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.03, from 0.99 in 2015Q2. The ratio dropped, as 64 institutions have sold all the shares of Targa Resources Corp that they owned while 78 funds have taken shares off the table. 32 funds have purchased shares for the first time while 104 added to their positions. These institutions now hold 45.54 million shares or 3.64% less than the 47.26 million shares they owned in 2015Q2.
The Fund Salient Capital Advisors Llc currently is holding shares equating to 5.5% of its total portfolio in Targa Resources Corp representing a total of 4.39 million shares. Another fund,Walnut Private Equity Partners Llc, is holding a total of 99,608 shares equating to 4.22% of their holdings. Additionally, Chickasaw Capital Management Llc has a 2.00 million share stake in Targa Resources Corp which represents 4% of their total portfolio. The Fund, Cushing Asset Management Lp, based out of Texas, has also built up a stake in the stock, which represents a total of 2.08% of their total portfolio. Finally Omega Advisors Inc., a fund which is based in the state of New York reported a total holdings of 1.95 million shares.
Insider activity is a very important aspect to track on any stock. Going back to August 12, 2015, shareholders of Targa Resources Corp have witnessed 0 insider buys, and a total of 2 selling transactions equating to a net activity of approximately $2.31 million . Joyce Rene R sold 10,000 shares worth approximately $783,050.
Targa Resources Corp. , through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a well-known provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The company has a market cap of $1.56 billion. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. It has 22.4 P/E ratio. The Firm operates in two divisions Gathering and Processing and Logistics and Marketing.
According to Zacks Investment Research, “Targa Resources Corp owns general and limited partner interests in Targa Resources Partners LP, engaged in providing midstream natural gas and natural gas liquid services in the United States. The Company operates its business through two business segments: Natural Gas Gathering and Processing and NGL Logistics and Marketing. The Natural Gas Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting natural gas liquids and removing impurities. NGL Logistics and Marketing segment is engaged in gathering and storing; fractionating, storing, and transporting of finished NGLs. Targa also markets the natural gas liquids produced and purchased in selected United States markets. The Company also offers refinery services and wholesale propane marketing operations. Targa Resources Corp is headquartered in Houston, Texas.”