Raymond James analyst James Weston maintained a Buy rating on Targa Resources (TRGP) yesterday. The company’s shares closed last Thursday at $41.20, close to its 52-week high of $41.39.
According to TipRanks.com, Weston is a 4-star analyst with an average return of 27.1% and a 69.7% success rate. Weston covers the Industrial Goods sector, focusing on stocks such as Dcp Midstream Partners, Crestwood Equity, and Antero Midstream.
Targa Resources has an analyst consensus of Strong Buy, with a price target consensus of $46.67, representing a 15.1% upside. In a report issued on May 26, Morgan Stanley also maintained a Buy rating on the stock with a $52.00 price target.
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Based on Targa Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.63 billion and net profit of $146 million. In comparison, last year the company earned revenue of $2.05 billion and had a GAAP net loss of $1.74 billion.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005 and is headquartered in Houston, TX.
