Targa Resources (TRGP) Shares Slide -7.61%

Targa Resources (TRGP) : During the past 4 weeks, traders have been relatively bearish on Targa Resources (TRGP), hence the stock is down -15.5% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -7.55% relative to the S&P 500. The 4-week change in the price of the stock is -12.66% and the stock has fallen -7.61% in the past 1 week.

The stock has recorded a 20-day Moving Average of 9.72% and the 50-Day Moving Average is 11.03%. Targa Resources Corp. has dropped 7.91% during the last 3-month period . Year-to-Date the stock performance stands at 46.65%.


Targa Resources (NYSE:TRGP): stock turned positive on Friday. Though the stock opened at $35.84, the bulls momentum made the stock top out at $37.37 level for the day. The stock recorded a low of $35.66 and closed the trading day at $37.26, in the green by 2.73%. The total traded volume for the day was 2,033,086. The stock had closed at $36.27 in the previous days trading.

Also, Major Brokerage house, Jefferies downgrades its ratings on Targa Resources (NYSE:TRGP). In the latest research report, Jefferies raises the target price from $34 per share to $45 per share. According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 8, 2016.

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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