Targa Resources is a natural gas provider whose its activities include gas gathering, processing, treating, fractionation, storage and transportation throughout the United States. Their productions area include Permian basin, Fort Worth Basin, South Louisiana basin and deep water and Gulf of Mexico reserves.

Turnover is expected to reach 7.5 billion dollars for 2012. It is 6.3% up from 2011. Net result is supposed to triple at 96 million dollars against 30 million for 2011. This performance is due to attractive acquisitions and the organic growth of the ongoing projects which are cost-efficient. Earnings per share is expected to be at 1.22 USD for 2012 and it is regularly revised upward.

Technically, the stock is on its USD 43.5 mid-level support, just below its 20-days moving average. The decline observed since mid-April is in line with the withdrawal markets on NYSE index. The current level could be an interesting entry point for an objective fixed on the USD 45.75 short-term resistance and, by extension, on its 52-weeks highest at USD 49.9.

Investors could take a buying position as soon as price will cross 20-days moving average with an objective at USD 45.75 and by extension at USD 49.2. Investments should be protected with a stop-loss at USD 40.8.