Today’s Market Runner: What Will Happen to Targa Resources Corp Next? The Stock Just Increased A Lot

Today's Market Runner: What Will Happen to Targa Resources Corp Next? The Stock Just Increased A Lot

The stock of Targa Resources Corp (NYSE:TRGP) is a huge mover today! About 3.80M shares traded hands or 92.89% up from the average. Targa Resources Corp (NYSE:TRGP) has risen 20.09% since April 27, 2016 and is uptrending. It has outperformed by 14.87% the S&P500.
The move comes after 8 months positive chart setup for the $9.41B company. It was reported on Nov, 30 by Barchart.com. We have $56.77 PT which if reached, will make NYSE:TRGP worth $658.70M more.

Analysts await Targa Resources Corp (NYSE:TRGP) to report earnings on February, 23. They expect $0.01 earnings per share, down 97.92% or $0.47 from last year’s $0.48 per share. TRGP’s profit will be $1.77 million for 1326.50 P/E if the $0.01 EPS becomes a reality. After $-0.23 actual earnings per share reported by Targa Resources Corp for the previous quarter, Wall Street now forecasts -104.35% EPS growth.

Targa Resources Corp (NYSE:TRGP) Ratings Coverage

Out of 12 analysts covering Targa Resources (NYSE:TRGP), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Targa Resources has been the topic of 33 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Targa Resources Corp (NYSE:TRGP) earned “Overweight” rating by Capital One on Monday, May 2. The stock of Targa Resources Corp (NYSE:TRGP) earned “Buy” rating by Jefferies on Tuesday, March 22. The rating was upgraded by Goldman Sachs on Monday, September 19 to “Buy”. Barclays Capital maintained Targa Resources Corp (NYSE:TRGP) on Monday, May 2 with “Equal Weight” rating. On Friday, December 18 the stock rating was upgraded by Jefferies to “Hold”. The rating was maintained by Wunderlich with “Hold” on Friday, February 26. The rating was maintained by RBC Capital Markets on Thursday, November 3 with “Outperform”. As per Wednesday, June 8, the company rating was downgraded by Jefferies. Barclays Capital maintained the shares of TRGP in a report on Wednesday, August 5 with “Overweight” rating. As per Tuesday, May 31, the company rating was initiated by Stifel Nicolaus.

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.”

Insitutional Activity: The institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.12, from 1.34 in 2016Q1. The ratio increased, as 43 funds sold all Targa Resources Corp shares owned while 87 reduced positions. 67 funds bought stakes while 107 increased positions. They now own 131.44 million shares or 48.28% less from 254.13 million shares in 2016Q1.
Voya Investment Mngmt Limited Liability Com holds 0.02% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 176,822 shares. Utah Retirement reported 28,400 shares or 0.03% of all its holdings. Moreover, Whittier has 0% invested in Targa Resources Corp (NYSE:TRGP) for 252 shares. Mcf Ltd Llc accumulated 0% or 452 shares. Moreover, Wellington Mgmt Ltd Liability Partnership has 0.01% invested in Targa Resources Corp (NYSE:TRGP) for 1.14M shares. Franklin Resource owns 15,610 shares or 0% of their US portfolio. Moreover, Beck Capital Management Limited Liability Com has 0.95% invested in Targa Resources Corp (NYSE:TRGP) for 35,379 shares. Moreover, Cohen Steers Inc has 0.11% invested in Targa Resources Corp (NYSE:TRGP) for 993,005 shares. Bard Associates holds 0.95% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 42,493 shares. Fiera Corp accumulated 7,669 shares or 0% of the stock. holds 5,226 shares or 0% of its portfolio. Moreover, Wells Fargo Mn has 0% invested in Targa Resources Corp (NYSE:TRGP) for 200,404 shares. Janus Cap Management Limited Liability holds 0% or 6,200 shares in its portfolio. Denver Invest Advsr Limited Liability Corporation holds 23,554 shares or 0.04% of its portfolio. Essex Invest Ltd Liability Corporation has 6,831 shares for 0.05% of their US portfolio.

Insider Transactions: Since June 13, 2016, the stock had 0 insider buys, and 22 sales for $12.52 million net activity. 20,000 shares with value of $990,638 were sold by Heim Michael A on Tuesday, November 15. Another trade for 25,100 shares valued at $1.14 million was made by McParland Jeffrey J on Tuesday, September 6. Pryor D. Scott also sold $282,450 worth of Targa Resources Corp (NYSE:TRGP) on Wednesday, July 27. 25,000 shares were sold by WHALEN JAMES W, worth $1.25 million. Perkins Joe Bob sold $450,362 worth of stock or 8,984 shares. Another trade for 2,000 shares valued at $95,834 was sold by Middlebrooks Dan C. Shares for $438,538 were sold by Chung Paul W on Monday, November 7.

More important recent Targa Resources Corp (NYSE:TRGP) news were published by: Fool.com which released: “Targa Resources Corp Is Running Out of Room to Grow… What’s Next?” on September 26, 2016, also Forbes.com published article titled: “Targa Resources (TRGP) Passes Through 8% Yield Mark”, Fool.com published: “Here’s Why Shares of Targa Resources Corp. Surged 25.8% in February” on March 05, 2016. More interesting news about Targa Resources Corp (NYSE:TRGP) was released by: Forbes.com and their article: “Why Targa Resources Is a Top 10 Energy Dividend Stock (TRGP)” with publication date: July 21, 2016.

TRGP Company Profile

Targa Resources Corp. (Targa) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. The Company’s indirect subsidiary is the sole general partner of Targa Resources Partners LP (the Partnership). The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling natural gas liquids (NGLs), NGL products, refined petroleum products and crude oil. The Firm operates in two divisions: Natural Gas Gathering and Processing. Natural Gas Gathering and Processing, consisting of two divisions: Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing, consisting of two divisions: Logistics Assets and Marketing and Distribution. During the year ended December 31, 2011, the Company projects included Cedar Bayou Fractionator expansion project, North Texas expansion program, SAOU expansion project, Cedar Bayou fractionation expansion, International propane export project, North Texas Longhorn project, Petroleum logistics terminal expansions, Benzene treating project, SAOU/Permian expansion programs, North Texas expansion program, HD-5 Refrigeration Export project and Gulf Coast Fractionators expansion project. On March 15, 2011, the Partnership acquired a refined petroleum products and crude oil storage and terminaling facility in Channelview, Texas on Carpenter’s Bayou along the Houston Ship Channel (the Channelview Terminal). On September 30, 2011 the Partnership acquired refined petroleum products and crude oil storage and terminaling facilities in two separate transactions.

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