7 analysts have expressed a variety of opinions on Targa Resources TRGP over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 3 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 3 | 2 | 0 | 0 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $154.0, a high estimate of $171.00, and a low estimate of $141.00. Observing a 12.41% increase, the current average has risen from the previous average price target of $137.00.
Interpreting Analyst Ratings: A Closer Look
A clear picture of Targa Resources's perception among financial experts is painted with a thorough analysis 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 |
|---|---|---|---|---|---|
| Christine Cho | Barclays | Raises | Overweight | $171.00 | $155.00 |
| John Mackay | Goldman Sachs | Raises | Buy | $163.00 | $147.00 |
| Elvira Scotto | RBC Capital | Raises | Outperform | $153.00 | $147.00 |
| Neal Dingmann | Truist Securities | Raises | Buy | $150.00 | $125.00 |
| Michael Blum | Wells Fargo | Raises | Overweight | $153.00 | $124.00 |
| John Mackay | Goldman Sachs | Raises | Buy | $147.00 | $132.00 |
| Sunil Sibal | Seaport Global | Raises | Buy | $141.00 | $129.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Targa Resources. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Targa Resources compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for Targa Resources's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Targa Resources's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Targa Resources analyst ratings.
Unveiling the Story Behind Targa Resources
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.
Targa Resources: A Financial Overview
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Over the 3 months period, Targa Resources showcased positive performance, achieving a revenue growth rate of 4.65% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 8.38%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Targa Resources's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 11.54% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Targa Resources's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.42%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Targa Resources's debt-to-equity ratio stands notably higher than the industry average, reaching 5.53. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Analyst Ratings: What Are They?
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
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.
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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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