Credit Suisse Analysts Begin Coverage on Targa Resources Partners (NGLS)

By admin | 6 years ago

Research analysts at Credit Suisse (NYSE: CS) began coverage on shares of Targa Resources Partners (NASDAQ: NGLS) in a report released on Friday. The firm set an “outperform” rating on the stock.

Shares of Targa Resources Partners traded down 1.19% during mid-day trading on Friday, hitting $44.77. Targa Resources Partners has a 52 week low of $28.83 and a 52 week high of $43.48. The company has a market cap of $3.944 billion and a P/E ratio of 20.24.

Targa Resources Partners last announced its earnings results on Thursday, May 3rd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.13. The company’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts predict that Targa Resources Partners will post $0.51 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of Targa Resources Partners in a research note to investors on Monday, March 19th. They set an “overweight” rating on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) initiated coverage on shares of Targa Resources Partners in a research note to investors on Tuesday, February 14th. They set a “hold” rating on the stock. Finally, analysts at Citigroup (NYSE: C) downgraded shares of Targa Resources Partners to a “neutral” rating in a research note to investors on Monday, February 13rd.

Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp , a provider of midstream natural gas and natural gas liquid (NGL) services in the United States, to own, operate, acquire and develop a portfolio of midstream energy assets.

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