Targa Resources Corp. (TRGP) has made headlines for its strategic growth and performance in the market. Its stock price is surging, showing an impressive YTD increase of 87.3% and reaching an all-time high of $167.8. Goldman Sachs has also recognized it as a stock with high consensus ROE. Various asset management firms including Hennion & Walsh Asset Management Inc., Great Lakes Retirement Inc., and Creative Planning have increased their stakes in TRGP. Targa's strong market momentum is evident, with Morgan Stanley increasing their price target to $202.00. The company's results have not unfolded without challenges; its Q3 EPS was reduced due to Capital One Financial's involvement, and it underwhelmed with weaker revenue numbers than expected. Despite this, its successful pricing for a $1.0 billion offering of Senior Notes and garnished consensus recommendation of 'Buy' from brokerages showcases its stability. There are ongoing rumors of a takeover from a larger rival, Williams, which TRGP has denied. The company continues to shine in the midstream sector with record operational metrics while maintaining a healthy dividend disbursement and a sustainable business model.
Targa Resources Corp TRGP News Analytics from Mon, 08 Jun 2020 07:00:00 GMT to Sat, 26 Oct 2024 08:28:32 GMT -
Rating 7
- Innovation 7
- Information 9
- Rumor -2
