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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 Corp

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Shares of oil and fossil fuel companies are trading higher following the US presidential election. Investors may be weighing the potential impact of Donald Trump's energy policies on the sector.

Wells Fargo analyst Michael Blum maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Overweight and raises the price target from $153 to $190.

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Price Target

Analyst Ratings

Wells Fargo Maintains Overweight on Targa Resources, Raises Price Target to $190

Targa Resources shares are trading higher after Truist Securities maintained a Buy rating on the stock and raised its price target from $150 to $175.

Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes <a href="https://www.benzinga.com/topic/2024-election">for the 47th president.</a>
Betting markets leaned slightly toward Donald Trump, with CFTC-regulated Kalshi placing Trump's win probability at 56% compared to Kamala Harris's 44%.
National polls show a close contest, with the latest New York Times/Siena College poll indicating both candidates tied at 48% in the popular vote.
The S&amp;P 500 climbed 1.2%, while the tech-focused Nasdaq 100 surged 1.5%, marking its strongest one-day increase in nearly a month. 
All 11 sectors of the S&amp;P 500 experienced gains, with consumer discretionary stocks outperforming. Small caps also joined the rally, with the Russell 2000 index gaining 1.1%.
Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) led the S&amp;P 500, with shares soaring after the artificial intelligence company surpassed quarterly earnings estimates and provided strong guidance.
In macroeconomic news, U.S. services sector activity hit over two-year highs <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41750522/us-services-sector-gauge-rises-more-than-expected-to-over-2-year-highs-as-employm">in October, outperforming expectations</a>.
Treasury yields increased by 5 basis points, while the dollar declined for a second consecutive session.
Gold edged up 0.3%, hovering near record highs, and oil prices gained 1.2% after a 3.2% surge on Monday.
Crypto sentiment was strong as well, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumping 4.5% to over $70,000 and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) spiking 12%.
Read also: <a href="https://www.benzinga.com/markets/24/11/41741466/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,259.62</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,779.38</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,244.40</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,191.93</td>
<td>1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.1% to $575.87.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.9% to $421.79.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 1.4% to $492.61.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $222.47.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.7%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, up 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), up 4.8%</li>
<li>Palantir Technologies Inc., up 22.8%</li>
<li>NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), down 6.8%</li>
<li>Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), down 1.6%</li>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), down 2.3%</li>
<li>Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), down 0.5%</li>
<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), up 6.2%</li>
<li>Emerson Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>), up 6.8%, </li>
<li>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), up 3.9%, </li>
<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), up 8.8%, </li>
<li>Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>), 4.7%,</li>
<li>YUM! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), up 2.5%, </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>
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Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What's Driving Markets Tuesday?

8 analysts have expressed a variety of opinions on Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
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.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $174.0, a high estimate of $202.00, and a low estimate of $153.00. Observing a 14.26% increase, the current average has risen from the previous average price target of $152.29. 
<img src="https://www.benzinga.com/files/images/story/2024/1730822418_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
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.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$175.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Sunil Sibal</td>
<td>Seaport Global</td>
<td>Raises</td>
<td>Buy</td>
<td>$174.00</td>
<td>$141.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$202.00</td>
<td>$173.00</td>
</tr>
<tr>
<td>Jean Ann Salisbury</td>
<td>B of A Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$182.00</td>
<td>-</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$172.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$171.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>John Mackay</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$163.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$153.00</td>
<td>$147.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>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.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Targa Resources compared to the broader market.</li>
<li>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.</li>
</ul>
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.
<a href="https://www.benzinga.com/quote/TRGP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Targa Resources analyst ratings.</a>
<h2>All You Need to Know About Targa Resources</h2>
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.
<h3>Targa Resources's Financial Performance</h3>
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: 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. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the 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): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 11.54%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 1.42%, the company may need to address challenges in generating 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.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Targa Resources: Insights From 8 Financial Analysts

Truist Securities analyst Neal Dingmann maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Buy and raises the price target from $150 to $175.

Truist Securities Maintains Buy on Targa Resources, Raises Price Target to $175

Guidance

Targa Resources Expects FY24 Adj. EBITDA Outlook At The Top End Of The $3.95B-$4.05B Range

Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) reported quarterly sales of $3.852 billion which missed the analyst consensus estimate of $4.060 billion by 5.13 percent. This is a 1.16 percent decrease over sales of $3.897 billion the same period last year.

Earnings

Earnings Misses

Targa Resources Q3 Sales $3.852B Miss $4.060B Estimate

Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) has outperformed the market over the past 5 years by 20.48% on an annualized basis producing an average annual return of 33.5%. Currently, Targa Resources has a market capitalization of $37.07 billion. 
Buying $1000 In TRGP: If an investor had bought $1000 of TRGP stock 5 years ago, it would be worth $4,249.12 today based on a price of $169.20 for TRGP at the time of writing.
<h3>Targa Resources's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730755825_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much You Would Have Made Owning Targa Resources Stock In The Last 5 Years

Seaport Global analyst Sunil Sibal maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Buy and raises the price target from $141 to $174.

Seaport Global Maintains Buy on Targa Resources, Raises Price Target to $174

Morgan Stanley analyst Robert Kad maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Overweight and raises the price target from $173 to $202.

Morgan Stanley Maintains Overweight on Targa Resources, Raises Price Target to $202

Targa Resources's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) short percent of float has risen 5.11% since its last report. The company recently reported that it has 3.50 million shares sold short, which is 1.85% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.81 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Targa Resources Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729793720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Targa Resources has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Targa Resources's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Targa Resources's peer group average for short interest as a percentage of float is 3.19%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Targa Resources?

Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) has outperformed the market over the past 5 years by 17.95% on an annualized basis producing an average annual return of 32.21%. Currently, Targa Resources has a market capitalization of $35.47 billion. 
Buying $1000 In TRGP: If an investor had bought $1000 of TRGP stock 5 years ago, it would be worth $4,111.73 today based on a price of $161.92 for TRGP at the time of writing.
<h3>Targa Resources's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729199018_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In Targa Resources 5 Years Ago Would Be Worth Today

B of A Securities analyst Jean Ann Salisbury reinstates Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Buy and announces $182 price target.

Initiation

B of A Securities Reinstates Buy on Targa Resources, Announces $182 Price Target

RBC Capital analyst Elvira Scotto maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Outperform and raises the price target from $153 to $172.

RBC Capital Maintains Outperform on Targa Resources, Raises Price Target to $172

7 analysts have expressed a variety of opinions on Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) 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.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
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. 
<img src="https://www.benzinga.com/files/images/story/2024/1729018825_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
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.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$171.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>John Mackay</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$163.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$153.00</td>
<td>$147.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$150.00</td>
<td>$125.00</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$153.00</td>
<td>$124.00</td>
</tr>
<tr>
<td>John Mackay</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$147.00</td>
<td>$132.00</td>
</tr>
<tr>
<td>Sunil Sibal</td>
<td>Seaport Global</td>
<td>Raises</td>
<td>Buy</td>
<td>$141.00</td>
<td>$129.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>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.</li>
<li>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.</li>
<li>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.</li>
</ul>
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.
<a href="https://www.benzinga.com/quote/TRGP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Targa Resources analyst ratings.</a>
<h2>Unveiling the Story Behind Targa Resources</h2>
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.
<h3>Targa Resources: A Financial Overview</h3>
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.
<h2>Analyst Ratings: What Are They?</h2>
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.

Navigating 7 Analyst Ratings For Targa Resources

Barclays analyst Christine Cho maintains Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) with a Overweight and raises the price target from $155 to $171.

Barclays Maintains Overweight on Targa Resources, Raises Price Target to $171

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Shares of energy stocks are trading lower as oil prices fall after Israel reportedly indicated it could target military sites in Iran but not oil or nuclear targets.

Petrobras (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbr#NYSE">PBR</a>), an&nbsp;oil and gas company of Brazil, is close to reaching an agreement with Brazil&#39;s regulators that will enable the company to start redeveloping the large Tupi oil field, a significant asset in the country&#39;s energy landscape. This redevelopment initiative is expected to not only boost Petrobras&#39; production capabilities but also reinvigorate Brazil&#39;s oil output, which has faced stagnation in recent years.
<h2>Resolving the Tax Dispute: A Critical Step</h2>
One of the most pressing issues for Petrobras is the long-standing tax dispute with Brazil&#39;s National Agency of Petroleum, Natural Gas and Biofuels (ANP). According to Sylvia dos Anjos, the head of exploration and production at Petrobras, the company anticipates that this dispute will be resolved by the end of 2024. Successfully settling this issue is crucial for Petrobras to extend its operating contract for Tupi, potentially for another 27 years, allowing for a more extensive and profitable development plan.
The heart of the conflict lies in the interpretation of tax regulations pertaining to oil fields. Petrobras argues that Tupi consists two distinct deposits &mdash;Tupi and Cernambi. Under the ANP&#39;s maintenance these are a single entity. This interpretation affects the tax rate applicable to Petrobras, with larger fields incurring higher taxes. The ongoing arbitration proceedings may soon give way to negotiations, as both parties appear ready to find common ground.
<h2>Strategic Redevelopment Plans for Tupi</h2>
With the potential resolution of the tax dispute, Petrobras is poised to embark on ambitious plans to drill new wells and conduct seismic research at the Tupi oil field. The company is also contemplating the addition of another floating production unit, a significant investment that can cost more than $4 billion and take several years to construct. This move would significantly enhance Petrobras&#39; ability to extract oil from Tupi, which is essential for addressing the natural decline in production rates.
Cesar Cunha de Souza, Petrobras&#39; executive manager for ultra-deep waters, indicated that the start date for this new production unit will be defined in the company&#39;s next strategic plan. The goal is to maximize output from Tupi through infill drilling campaigns, which are designed to improve extraction rates from a field that has been in production for over a decade.
<h2>Economic Significance of Tupi</h2>
The Tupi oil field is a cornerstone of Petrobras&#39; operations and Brazil&#39;s economy. In the early 2010s, Tupi propelled Brazil into the ranks of the world&#39;s top ten oil producers, generating substantial tax revenues that have been crucial for the national economy. It has been a driving force behind exploration in the pre-salt region, a hotbed for international oil investments.
In 2023, Tupi outperformed oil production from several countries, including Colombia, Venezuela, the United Kingdom and Argentina. This achievement underscores the field&#39;s significance not only for Petrobras but for Brazil&#39;s energy independence and economic stability.
<h2>Challenges and Comparisons in Global Oil Production</h2>
Despite the positive outlook for Tupi, Petrobras faces challenges similar to those experienced by other oil-producing nations. For instance, Mexico&#39;s oil output has dramatically declined since the peak of the Cantarell field in the 2000s, significantly impacting government revenues. Anjos emphasized the necessity of intensifying efforts to extract more from Tupi, stating, &quot;We&#39;re going to carry out a process to get much more out of Tupi. It&#39;s a giant field.&quot;
The ongoing global demand for oil makes it imperative for Petrobras to arrest the decline in production effectively. The company is committed to exploring new methodologies and technologies that can enhance extraction and efficiency, ensuring that Tupi remains a vital contributor to Brazil&#39;s energy portfolio.
<h2>Production Metrics and PBR&#39;s Projections</h2>
Recent data reveals that Tupi has maintained an impressive output, producing an average of 764,000 barrels of oil per day in the first eight months of 2024. This output not only surpasses that of Buzios, another field where Petrobras is expanding production but also highlights Tupi&#39;s continued importance in Brazil&#39;s energy strategy. In August, daily crude output returned to last year&#39;s level, reaching 830,000 barrels per day following the conclusion of planned maintenance on a key platform.
Such metrics indicate that with the right investments and strategies in place, Tupi could enhance its production capabilities even further, reinforcing Petrobras&#39; position as a leader in the oil industry.
<h2>Future of Petrobras and the Tupi Oil Field</h2>
As Petrobras navigates the complexities of its tax dispute with the ANP, the company&#39;s focus on the Tupi oil field exemplifies its broader strategy to secure and expand Brazil&#39;s energy resources. The outcome of these negotiations will significantly influence the future trajectory of the company and its ability to innovate and adapt to an ever-changing global oil landscape.
Overall, the redevelopment of Tupi is not just a crucial step for Petrobras. It is a significant chapter in Brazil&#39;s quest for energy security and economic growth. The company&#39;s commitment to resolving its tax issues and investing in new technology positions PBR to capitalize on one of the most important oil fields in the world, ensuring that Brazil remains a key player in the global energy market.
<h2>PBR&#39;s Zacks Rank &amp; Key Picks</h2>
Currently, PBR has a Zacks Rank of #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Targa Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trgp#NYSE">TRGP</a>) and Archrock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aroc#NYSE">AROC</a>), each sporting a Zacks Rank #1 (Strong Buy), and Core Laboratories Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clb#NYSE">CLB</a>), carrying a Zacks Rank #2 (Buy) at present.
Targa Resources is valued at $34.62 billion. In the past year, its shares have risen 90%. TRGP is a leading provider of midstream energy infrastructure services in the United States. It offers a wide range of services, including gathering, processing, transportation, storage and marketing of natural gas and natural gas liquids.
Houston-based Archrock is valued at $3.68 billion. The oil and gas exploration and production company currently pays a dividend of 66 cents per share, or 3.03%, on an annual basis. AROC, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services.
Core Laboratories is valued at $929.82 million. The company currently pays a dividend of 4 cents per share, or 0.2%, on an annual basis. CLB is an oilfield services company, operating in more than 50 countries. The firm deals with providing reservoir management and production enhancement services to oil and gas companies.
<a href="https://www.zacks.com/stock/news/2347049/petrobras-to-close-final-deal-for-redeveloping-the-tupi-oil-field?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2347049">To read this article on Zacks.com click here.</a>

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Petrobras to Close Final Deal for Redeveloping the Tupi Oil Field

Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>) has outperformed the market over the past 5 years by 15.45% on an annualized basis producing an average annual return of 29.75%. Currently, Targa Resources has a market capitalization of $31.95 billion. 
Buying $1000 In TRGP: If an investor had bought $1000 of TRGP stock 5 years ago, it would be worth $3,631.07 today based on a price of $145.86 for TRGP at the time of writing.
<h3>Targa Resources's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727461879_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth $3,600 Today

Reports Q3 net income $387.4M vs. $220.0M last year. Q3 adjusted EBITDA was $1,069.7M, a 9% increase vs. Q2. Published first on TheFly – the ultima...

Targa Resources reports Q3 revenue $3.86B, consensus $4.24B

Targa Resources ( ($TRGP) ) has provided an announcement. Targa Resources Corp. reported a record third quarter 2024 with a net income of $387.4 mi...

Targa Resources Announces Record Q3 2024 Earnings Growth

ONEOK: Growth Through Strategic Acquisitions And Dividend Stability

Truist raised the firm's price target on Targa Resources (TRGP) to $175 from $150 and keeps a Buy rating on the shares after its Q3 results. The co...

Targa Resources price target raised to $175 from $150 at Truist

Targa Resources Corp (TRGP) Q3 2024 Earnings Call Transcript

Mizuho Securities analyst Gabe Moreen has maintained their bullish stance on TRGP stock, giving a Buy rating yesterday. Gabe Moreen has given his B...

Targa Resources: Strong Performance and Strategic Initiatives Support Buy Rating

Companies in the Energy sector have received a lot of coverage today as analysts weigh in on California Resources Corp (CRC – Research Report) and ...

Analysts Conflicted on These Energy Names: California Resources Corp (CRC) and Targa Resources (TRGP)

Wells Fargo analyst Michael Blum maintained a Buy rating on Targa Resources (TRGP – Research Report) yesterday and set a price target of $153.00. M...

Targa Resources: Strong Financial Outlook and Growth Potential Justify Buy Rating

Wells Fargo raised the firm's price target on Targa Resources (TRGP) to $190 from $153 and keeps an Overweight rating on the shares following the Q...

Targa Resources price target raised to $190 from $153 at Wells Fargo

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Targa Resources Corp. Announces Quarterly Common Dividend and Timing of Second Quarter 2024 Earnings Webcast

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Targa Resources Corp. to Participate in Citi One-on-One Midstream and New Energy Infrastructure Conference

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