Wells Fargo analyst Michael Blum maintained a Buy rating on Targa Resources Corp (TRGP) yesterday. The company’s shares closed yesterday at $43.45, close to its 52-week low of $41.75.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 9.0% and a 54.0% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Dcp Midstream Partners Lp, and NGL Energy Partners.
Targa Resources Corp has an analyst consensus of Moderate Buy, with a price target consensus of $61, implying a 40.4% upside from current levels. In a report released yesterday, UBS also maintained a Buy rating on the stock with a $65 price target.
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Based on Targa Resources Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $23.7 million. In comparison, last year the company had a GAAP net loss of $168 million.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRGP in relation to earlier this year.
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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following segments: Gathering and Processing, and Logistics and Marketing.
