Targa Resources (NYSE:TRGP) Given New $226.00 Price Target at Mizuho

Targa Resources (NYSE:TRGP) had its target price lifted by stock analysts at Mizuho from $208.00 to $226.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Mizuho’s price target would suggest a potential upside of 15.36% from the stock’s previous close.

A number of other analysts have also commented on TRGP. Wells Fargo & Company lifted their price objective on Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Truist Financial reduced their target price on shares of Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. UBS Group boosted their price target on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. US Capital Advisors cut shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Stifel Nicolaus upped their target price on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Targa Resources has a consensus rating of “Buy” and an average price target of $196.07.

Targa Resources Trading Down 6.8 %

TRGP traded down $14.38 during mid-day trading on Thursday, reaching $195.92. The stock had a trading volume of 841,883 shares, compared to its average volume of 1,414,431. The firm’s fifty day simple moving average is $195.20 and its two-hundred day simple moving average is $175.21. The stock has a market capitalization of $42.72 billion, a P/E ratio of 35.58, a P/E/G ratio of 0.62 and a beta of 2.29. Targa Resources has a 52 week low of $95.88 and a 52 week high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TRGP. Colonial Trust Co SC boosted its position in Targa Resources by 5,400.0% during the 4th quarter. Colonial Trust Co SC now owns 165 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. Atala Financial Inc bought a new stake in shares of Targa Resources in the fourth quarter worth $31,000. Cary Street Partners Financial LLC acquired a new position in Targa Resources during the fourth quarter worth $31,000. Rakuten Securities Inc. grew its position in Targa Resources by 394.6% in the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 146 shares in the last quarter. Finally, DT Investment Partners LLC acquired a new stake in Targa Resources in the 3rd quarter valued at $29,000. 92.13% of the stock is currently owned by institutional investors.

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.