Significant changes are unfurling at Targa Resources Corp. (TRGP), the midstream giant that is expanding its foothold in the Permian Basin. Institutions like Cambiar Investors, Creekmur Asset Management, and DekaBank Deutsche Girozentrale have been actively adjusting their stock positions, with some increasing their shares in TRGP. Recently, Targa priced a $1.0 Billion Offering of Senior Notes after record operational metrics were reported.
Meanwhile, renowned investing entities like Goldman Sachs have high ROE expectations for TRGP. Momentum traders like Assenagon Asset Management S.A. and Hennion & Walsh Asset Management Inc., are bullish about TRGP and purchasing shares. However, insiders like Chief Commercial Officer Robert Muraro have been selling their shares.
Targa Resources FY2024 EPS was boosted significantly, thanks to decisions by US Capital Advisors. However, Q3 EPS estimates were cut by unidentified analysts. Targa Resources Corp. managed to rebuff takeover interest from Williams, another industry giant. Despite some alarm regarding Targa's possible risk-taking with its debt, its stock continues to soar, experiencing its highest ever at $167.8.
Analyst firms seem generally bullish, with Royal Bank of Canada and Morgan Stanley setting high price targets. RBC even expects a positive Free Cash Flow shift for Targa. Much of this positive sentiment is tied to Targa's strategic decisions and report of high transportation volumes for Q1.
Targa Resources Corp TRGP News Analytics from Fri, 04 Sep 2020 23:15:18 GMT to Sat, 02 Nov 2024 12:23:49 GMT - Rating 8 - Innovation -3 - Information 6 - Rumor -4
