Targa Resources Partners LP (NYSE:NGLS) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Friday.
Several other research firms have also issued reports on NGLS. Barclays PLC upgraded Targa Resources Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $47.00 to $55.00 in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded Targa Resources Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $52.00 in a research note on Monday, September 19th. Finally, Wunderlich reiterated a “hold” rating and set a $45.00 price objective (up from $44.00) on shares of Targa Resources Partners in a research note on Wednesday, August 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $41.89.
A hedge fund recently bought a new stake in Targa Resources Partners stock. Janney Montgomery Scott LLC purchased a new stake in shares of Targa Resources Partners LP (NYSE:NGLS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,065 shares of the company’s stock, valued at approximately $249,000.
About Targa Resources Partners
Targa Resources Partners LP is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States with a presence in crude oil gathering and petroleum terminaling. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to liquefied petroleum gas (LPG) exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products.
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