Analysis: Targa Resources Partners LP (NYSE:NGLS) Stock Target Has Just Been Increased Today
In an interesting research report shared with investors and clients by Jefferies & Co on Friday morning, the firm, Targa Resources Partners LP (NYSE:NGLS), had their target price per share downgraded to $16.00. Analusts now have a solid Hold rating on the stock.
From a total of 17 analysts covering Targa Resources Partners (NYSE:NGLS) 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 $55 while the lowest target price is $24. The mean of all analyst targets is $37.29 with a 152.49% above today’s ($15.05) stock price. Targa Resources Partners was the topic of 17 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs upgraded shares on November 4 to “Neutral” rating. Stifel Nicolaus maintained shares with “Buy” rating and $41 target share price in a report from an August 5. Robert W. Baird upgraded NGLS stock in a recent report from October 20 to “Outperform” rating. Finally, JP Morgan maintained the stock with “Neutral” rating in a report issued on an October 7.
Approximately 1.78M shares of stock traded hands. Targa Resources Partners LP (NYSE:NGLS) has declined 67.15% since May 15, 2015 and is downtrending. It has underperformed by 63.34% the S&P500.
The overall sentiment of institutions has decreased to 0.72 in Q2 2015. Its down 0.20, from 0.92 in 2015Q2. The ratio dived, as 57 institutions have sold all the shares of Targa Resources Partners LP that they owned while 68 funds have taken shares off the table. 19 funds have purchased shares for the first time while 71 added to their positions. These institutions now hold 114.52 million shares or 4.64% more than the 109.45 million shares they owned in 2015Q2.
The Fund Center Coast Capital Advisors Lp currently is holding shares equating to 8.14% of its total portfolio in Targa Resources Partners LP representing a total of 9.26 million shares. Another fund,Rr Advisors Llc, is holding a total of 1.26 million shares equating to 5.93% of their holdings. Additionally, Samson Capital Management Llc has a 228,517 share stake in Targa Resources Partners LP which represents 4.86% of their total portfolio. The Fund, C.V. Starr & Co. Inc. Trust, based out of New York, has also built up a stake in the stock, which represents a total of 3.98% of their total portfolio. Finally Oxbow Advisors Llc, a fund which is based in the state of Texas reported a total holdings of 625,862 shares.
Targa Resources Partners LP is a provider of midstream natural gas and natural gas liquid services in the United States with a presence in crude oil gathering and petroleum terminaling. The company has a market cap of $3.09 billion. The Firm is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to LPG exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products. It has 19.29 P/E ratio. The Firm operates in two divisions: Gathering and Processing, and Logistics and Marketing.
According to Zacks Investment Research, “TARGA RESOURCES has become one of the largest providers of integrated midstream natural gas services in the country.Their extensive portfolio of integrated midstream assets is strategically positioned across multiple geographic regions, producing basins, consumption and market hubs. This portfolio allows us to provide products and services spanning the midstream value chain to a broad base of customers.”