Analysts' ratings for Targa Resources TRGP over the last quarter vary from bullish to bearish, as provided by 10 analysts.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 5 | 5 | 0 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 3 | 2 | 0 | 0 | 0 |
| 3M Ago | 1 | 3 | 0 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $147.2, along with a high estimate of $163.00 and a low estimate of $138.00. This upward trend is evident, with the current average reflecting a 10.86% increase from the previous average price target of $132.78.
Interpreting Analyst Ratings: A Closer Look
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 |
|---|---|---|---|---|---|
| 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 |
| Tristan Richardson | Scotiabank | Raises | Sector Outperform | $142.00 | $128.00 |
| Christine Cho | Barclays | Raises | Overweight | $138.00 | $123.00 |
| Jeremy Tonet | JP Morgan | Raises | Overweight | $145.00 | $140.00 |
| John Staszak | Argus Research | Announces | Buy | $140.00 | - |
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 unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Targa Resources compared to the broader market.
- Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Targa Resources's stock. This examination reveals shifts in analysts' expectations over time.
For valuable insights into Targa Resources's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
Stay up to date on Targa Resources analyst ratings.
About 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.
Breaking Down Targa Resources's Financial Performance
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Targa Resources's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 4.65%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Targa Resources's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 8.38%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Targa Resources's ROE excels beyond industry benchmarks, reaching 11.54%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Targa Resources's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.42%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: With a high debt-to-equity ratio of 5.53, Targa Resources faces challenges in effectively managing its debt levels, indicating potential financial strain.
The Core of Analyst Ratings: What Every Investor Should Know
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
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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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