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Targa Resources Corp. Message Board

  • angie_76205 angie_76205 Sep 6, 2013 10:32 AM Flag

    New all-time high at 70.55

    Yesterday, TRGP blasted to a new high early in the day before closing down .15 at 69.80. This morning, the stock is acting nicely back over 70. This is all coming with the backdrop of (most likely) no positive information until the middle to end of October. This is very pleasing for TRGP shareholders in view of the negative new on Wednesday (fire at a small gas processing plant) and negative price action by many MLPs and/or their GPs. Yahoo has a 1-year target of 77. My target of 87 is based on a minimum 25% dividend increase over the next four quarters. This could prove to be low if as some analyst targets of 30-35% dividend increase is realized. My model has 25% over the next year and 20% each over the following two years. FYI, I rate TRGP at Strong Buy under 67 and just a Hold above 75. TRGP is my #2 holding and (yes) I do also hold KMR and KMI...but look at both as slower (but steady) growers. Being considerably larger, it takes more to move them. TRGP has yet to attract significant attention. This is actually a real positive for shareholders...especially those who want to build positions. GL

    Sentiment: Buy

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47.25-1.34(-2.76%)Oct 24 4:02 PMEDT