Revenue Update on Targa Resources Corp(NYSE:TRGP)

Targa Resources Corp(NYSE:TRGP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $1.58B. Analysts estimated a revenue of $1.66B. Earnings per share were $-0.33. Analysts had estimated an EPS of $-0.06.

In a different note, On Jun 8, 2016, Jefferies said it Downgrades its rating on Targa Resources Corp. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Hold’ by the firm. Stifel Nicolaus said it Initiates Coverage on Targa Resources Corp, according to a research note issued on May 31, 2016. The shares have been rated ‘Hold’ by the firm.

Targa Resources Corp (TRGP) made into the market gainers list on Fridays trading session with the shares advancing 0.45% or 0.19 points. Due to strong positive momentum, the stock ended at $42.44, which is also near the day’s high of $42.99. The stock began the session at $42.53 and the volume stood at 10,26,393 shares. The 52-week high of the shares is $78.67 and the 52 week low is $14.55. The company has a current market capitalization of $7,072 M and it has 16,66,30,470 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 29, 2016, D. Scott Pryor (officer ) sold 7,500 shares at $37.66 per share price.Also, On Jul 14, 2016, Jeffrey J Mcparland (officer ) sold 3,700 shares at $45.13 per share price.On Jun 15, 2016, James W Whalen (director officer ) sold 25,000 shares at $40.00 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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