Throughout the last three months, 12 analysts have evaluated Targa Resources TRGP, offering a diverse set of opinions from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 7 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 3 | 3 | 0 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $121.75, along with a high estimate of $130.00 and a low estimate of $109.00. This upward trend is evident, with the current average reflecting a 10.43% increase from the previous average price target of $110.25.
Exploring Analyst Ratings: An In-Depth Overview
The standing of Targa Resources among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Elvira Scotto | RBC Capital | Raises | Outperform | $128.00 | $123.00 |
| Michael Blum | Wells Fargo | Raises | Overweight | $124.00 | $109.00 |
| Selman Akyol | Stifel | Raises | Buy | $130.00 | $111.00 |
| Tristan Richardson | Scotiabank | Raises | Sector Outperform | $128.00 | $112.00 |
| Christine Cho | Barclays | Raises | Overweight | $122.00 | $116.00 |
| John Mackay | Goldman Sachs | Raises | Buy | $117.00 | $105.00 |
| Gabriel Moreen | Mizuho | Raises | Buy | $130.00 | $105.00 |
| Neal Dingmann | Truist Securities | Raises | Buy | $120.00 | $105.00 |
| Christine Cho | Barclays | Raises | Overweight | $116.00 | $105.00 |
| Jeremy Tonet | JP Morgan | Raises | Overweight | $125.00 | $122.00 |
| Elvira Scotto | RBC Capital | Raises | Outperform | $109.00 | $106.00 |
| Spiro Dounis | Citigroup | Raises | Buy | $112.00 | $104.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Targa Resources. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Targa Resources compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Targa Resources's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
To gain a panoramic view of Targa Resources's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on Targa Resources analyst ratings.
Delving into Targa Resources's Background
Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset.
Financial Insights: Targa Resources
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Targa Resources displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 0.93%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Energy sector.
Net Margin: Targa Resources's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 6.03%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Targa Resources's ROE stands out, surpassing industry averages. With an impressive ROE of 10.11%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.33%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Targa Resources's debt-to-equity ratio surpasses industry norms, standing at 4.86. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Analyst Ratings: Simplified
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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