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3 Utilities Stocks Moving The Sector Upward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 63 points (0.4%) at 17,115 as of Tuesday, July 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,207 issues advancing vs. 762 declining with 147 unchanged.

The Utilities sector currently sits up 1.0% versus the S&P 500, which is up 0.6%. Top gainers within the sector include Energy Company of Parana ( ELP), up 1.8%, Korea Electric Power ( KEP), up 0.6% and Huaneng Power International ( HNP), up 0.5%. A company within the sector that fell today was Centrais Eletricas Brasileiras ( EBR), up 0.9%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Targa Resources ( TRGP) is one of the companies pushing the Utilities sector higher today. As of noon trading, Targa Resources is up $1.61 (1.2%) to $137.68 on light volume. Thus far, 72,569 shares of Targa Resources exchanged hands as compared to its average daily volume of 437,800 shares. The stock has ranged in price between $136.21-$138.19 after having opened the day at $136.82 as compared to the previous trading day's close of $136.07.

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP, provides midstream natural gas and natural gas liquid (NGL) services in the United States. The company operates in two divisions, Gathering and Processing, and Logistics and Marketing. Targa Resources has a market cap of $5.9 billion and is part of the energy industry. Shares are up 54.3% year-to-date as of the close of trading on Monday. Currently there are 6 analysts who rate Targa Resources a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Targa Resources as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Targa Resources Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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