Raymond James analyst James Weston reiterated a Buy rating on Targa Resources (TRGP) today. The company’s shares closed last Thursday at $29.55.
According to TipRanks.com, Weston is a 3-star analyst with an average return of 9.5% and a 58.3% success rate. Weston covers the Industrial Goods sector, focusing on stocks such as Dcp Midstream Partners, Crestwood Equity, and EnLink Midstream.
Currently, the analyst consensus on Targa Resources is a Strong Buy with an average price target of $34.31, which is an 11.6% upside from current levels. In a report issued on February 8, Seaport Global also upgraded the stock to Buy with a $35.00 price target.
See today’s analyst top recommended stocks >>
Based on Targa Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.12 billion and net profit of $69.3 million. In comparison, last year the company earned revenue of $1.9 billion and had a GAAP net loss of $47.3 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
