In a report released yesterday, Michael Blum from Wells Fargo maintained a Hold rating on Targa Resources (TRGP). The company’s shares closed last Friday at $19.61.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 7.3% and a 56.5% success rate. Blum covers the Services sector, focusing on stocks such as Dcp Midstream Partners, Phillips 66 Partners, and NGL Energy Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Targa Resources with a $22.00 average price target, implying a 14.6% upside from current levels. In a report issued on July 27, Seaport Global also downgraded the stock to Hold.
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The company has a one-year high of $43.47 and a one-year low of $3.66. Currently, Targa Resources has an average volume of 3.76M.
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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The 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 NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005 and is headquartered in Houston, TX.
