Price Don’t Lie: Will Targa Resources Corp Go Down Anytime Soon?

Price Don't Lie: Will Targa Resources Corp Go Down Anytime Soon?

The stock of Targa Resources Corp (NYSE:TRGP) is a huge mover today! About 623,274 shares traded hands. Targa Resources Corp (NYSE:TRGP) has risen 61.62% since April 5, 2016 and is uptrending. It has outperformed by 59.66% the S&P500.
The move comes after 8 months positive chart setup for the $8.61B company. It was reported on Nov, 8 by Barchart.com. We have $73.18 PT which if reached, will make NYSE:TRGP worth $4.74 billion more.

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. As per Wednesday, August 31, the company rating was maintained by Wunderlich. RBC Capital Markets maintained the shares of TRGP in a report on Wednesday, November 4 with “Outperform” rating. The company was maintained on Monday, August 22 by Stifel Nicolaus. The firm has “Buy” rating given on Thursday, January 14 by Jefferies. Stifel Nicolaus downgraded the shares of TRGP in a report on Thursday, September 29 to “Hold” rating. As per Thursday, November 3, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Monday, September 19 by Goldman Sachs. The rating was initiated by Barclays Capital on Wednesday, March 23 with “Equal-Weight”. The company was initiated on Tuesday, May 31 by Stifel Nicolaus. The stock has “Overweight” rating given by Barclays Capital on Tuesday, September 27.

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 decreased to 1.34 in Q2 2016. Its down 1.98, from 3.32 in 2016Q1. The ratio worsened, 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.
Novare Capital Management Llc accumulated 59,772 shares or 0.68% of the stock. Fiera Cap has 0% invested in the company for 7,669 shares. Fifth Third Bank holds 0% of its portfolio in Targa Resources Corp (NYSE:TRGP) for 948 shares. Liberty Mutual Group Asset holds 123,174 shares or 0.19% of its portfolio. Central Comml Bank accumulated 170 shares or 0% of the stock. Penbrook Mngmt Limited Co has 16,512 shares for 0.77% of their US portfolio. Caxton Assoc L P has 15,000 shares for 0.02% of their US portfolio. Susquehanna Intll Group Ltd Liability Partnership accumulated 137,021 shares or 0% of the stock. Sit Assoc Inc holds 325 shares or 0% of its portfolio. Financial Bank Of America De accumulated 0.02% or 2.39M shares. Bollard Gp Ltd Company last reported 2,418 shares in the company. Sigma Planning holds 0.09% or 16,814 shares in its portfolio. Hanseatic Mgmt Services has 0.22% invested in the company for 13,594 shares. Private Trust Na holds 7,157 shares or 0.08% of its portfolio. Atwood Palmer last reported 930 shares in the company.

Insider Transactions: Since May 12, 2016, the stock had 0 insider purchases, and 14 selling transactions for $5.59 million net activity. McParland Jeffrey J had sold 100 shares worth $5,000. Another trade for 1,405 shares valued at $70,292 was sold by Perkins Joe Bob. $1.25M worth of shares were sold by WHALEN JAMES W on Thursday, September 22. Pryor D. Scott also sold $282,450 worth of Targa Resources Corp (NYSE:TRGP) shares. Another trade for 75,091 shares valued at $3.14 million was made by JOYCE RENE R on Thursday, May 12. Chung Paul W sold $867,161 worth of stock.

More notable 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 with their article: “Targa Resources (TRGP) Passes Through 8% Yield Mark” published on September 07, 2016, Forbes.com published: “Reminder – Targa Resources (TRGP) Goes Ex-Dividend Soon” on October 27, 2016. More interesting news about Targa Resources Corp (NYSE:TRGP) were released by: Seekingalpha.com and their article: “Targa Resources’ (TRGP) CEO Joe Bob Perkins on Q3 2016 Results – Earnings Call …” published on November 06, 2016 as well as Fool.com‘s news article titled: “Here’s Why Shares of Targa Resources Corp. Surged 25.8% in February” with publication date: March 05, 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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