In the latest quarter, 9 analysts provided ratings for Targa Resources TRGP, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 4 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 2 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 0 | 0 | 0 |
Analysts have recently evaluated Targa Resources and provided 12-month price targets. The average target is $115.78, accompanied by a high estimate of $130.00 and a low estimate of $105.00. This current average has increased by 9.11% from the previous average price target of $106.11.
Investigating Analyst Ratings: An Elaborate Study
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 |
|---|---|---|---|---|---|
| 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 |
| Shneur Gershuni | UBS | Lowers | Buy | $108.00 | $109.00 |
| Theresa Chen | Barclays | Raises | Overweight | $105.00 | $94.00 |
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: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Targa Resources compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Targa Resources's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Targa Resources's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Targa Resources analyst ratings.
Get to Know Targa Resources Better
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 Milestones: Targa Resources's Journey
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Negative Revenue Trend: Examining Targa Resources's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -6.92% in revenue growth, reflecting a decrease in 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 is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 6.61%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Targa Resources's ROE excels beyond industry benchmarks, reaching 10.68%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Targa Resources's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 1.37%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a high debt-to-equity ratio of 4.75, Targa Resources faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Significance of Analyst Ratings Explained
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.
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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