Barclays Upgrades Targa Resources Corp to Overweight with Price Target $55.00

Brokerage firm Barclays Upgrades its rating on Targa Resources Corp(NYSE:TRGP). In a research note issued to the investors, the brokerage major Raises the price-target to $55.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Sep 27, 2016.

In a different note, On Sep 19, 2016, Goldman Sachs said it Upgrades its rating on Targa Resources Corp. In the research note, the firm Raises the price-target to $41.00 per share. The shares have been rated ‘Buy’ by the firm. Evercore ISI Group said it Initiates Coverage on Targa Resources Corp, according to a research note issued on Sep 16, 2016. The shares have been rated ‘Hold’ by the firm. On Aug 22, 2016, Stifel Nicolaus said it Maintains its rating on Targa Resources Corp. In the research note, the firm Raises the price-target to $43.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 4, 2016, Stifel Nicolaus said it Upgrades its rating on Targa Resources Corp. The shares have been rated ‘Buy’ by the firm.

Targa Resources Corp (TRGP) shares turned negative on Fridays trading session with the shares closing down -0.29 points or -0.59% at a volume of 19,95,669. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $50. The peak price level was also seen at $50 while the days lowest was $49.05. Finally the shares closed at $49.11. The 52-week high of the shares is $66.87 while the 52-week low is $14.55. According to the latest information available, the market cap of the company is $8,183 M.

Targa Resources Corp(TRGP) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.58B. Analysts had an estimated revenue of $1.66B. Earnings per share were $-0.33. Analysts had estimated an EPS of $-0.06.

Several Insider Transactions has been reported to the SEC. On Sep 26, 2016, James W Whalen (director officer ) sold 25,000 shares at $50.00 per share price.Also, On Sep 26, 2016, Jeffrey J Mcparland (officer ) sold 1,000 shares at $50.34 per share price.On Sep 26, 2016, Joe Bob Perkins (Chief Executive Officer) sold 7,843 shares at $50.45 per share price, according to the Form-4 filing with the securities and exchange commission.

Targa Resources Corp. (Traga) through its general and limited partner interests in Targa Resources Partners LP (the Partnership) is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. 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. The Company operates in two divisions Gathering and Processing and Logistics and Marketing. Gathering and Processing includes Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing includes Logistics Assets and Marketing and Distribution.

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