Barclays PLC upgraded shares of Targa Resources Partners LP (NYSE:NGLS) from an equal weight rating to an overweight rating in a research report released on Tuesday morning. Barclays PLC currently has $55.00 target price on the stock, up from their previous target price of $47.00.
Several other research analysts also recently issued reports on the company. Goldman Sachs Group Inc. raised Targa Resources Partners from a neutral rating to a buy rating and upped their price objective for the stock from $41.00 to $52.00 in a report on Monday, September 19th. Wunderlich reissued a hold rating and issued a $45.00 price target (up previously from $44.00) on shares of Targa Resources Partners in a research note on Wednesday, August 31st. Finally, Stifel Nicolaus raised Targa Resources Partners from a hold rating to a buy rating and set a $43.00 price target on the stock in a research note on Thursday, August 4th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Targa Resources Partners presently has a consensus rating of Buy and a consensus target price of $41.89.
An institutional investor recently bought a new position in Targa Resources Partners stock. Janney Montgomery Scott LLC bought a new position in Targa Resources Partners LP (NYSE:NGLS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,065 shares of the company’s stock, valued at approximately $249,000.
Targa Resources Partners Company Profile
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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