Targa Resources Inc. (NYSE:TRGP) traded today at a new 12-month high of $72.73. This new high was reached on below average trading volume as 236,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.
Targa Resources Inc. is currently priced 0.5% above its average consensus analyst price target of $71.63.
Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has 840,000 barrels a day of gross fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline recently entered full service.
Over the past year, Targa Resources Inc. has traded in a range of $29.95 to $72.73 and is now at $72.02, 140% above that low.
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