Decoding 10 Analyst Evaluations For Targa Resources

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In the latest quarter, 10 analysts provided ratings for Targa Resources TRGP, showcasing a mix of bullish and bearish perspectives.

The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 4 6 0 0 0
Last 30D 0 1 0 0 0
1M Ago 0 1 0 0 0
2M Ago 1 3 0 0 0
3M Ago 3 1 0 0 0

Analysts have recently evaluated Targa Resources and provided 12-month price targets. The average target is $125.5, accompanied by a high estimate of $140.00 and a low estimate of $116.00. This current average has increased by 11.95% from the previous average price target of $112.10.

Investigating Analyst Ratings: An Elaborate Study

The perception of Targa Resources by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target
Jeremy Tonet JP Morgan Raises Overweight $140.00 $130.00
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

Key Insights:

  • Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Targa Resources. This insight gives a snapshot of analysts' perspectives on 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 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.

Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Targa Resources's market standing. Stay informed and make well-considered decisions with 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.

Targa Resources: Delving into Financials

Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.

Revenue Growth: Targa Resources's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 0.93%. This signifies 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: Targa Resources's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 6.03%, the company may encounter challenges in effective cost control.

Return on Equity (ROE): Targa Resources's ROE excels beyond industry benchmarks, reaching 10.11%. This signifies robust financial management and efficient use of shareholder equity capital.

Return on Assets (ROA): Targa Resources's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.33%, the company may face hurdles in achieving optimal financial returns.

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.

The Significance of Analyst Ratings Explained

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.

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.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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