Targa Resources (TRGP) Receives a Rating Update from a Top Analyst

Barclays analyst Theresa Chen maintained a Buy rating on Targa Resources today and set a price target of $262.00.

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According to TipRanks, Chen is a top 100 analyst with an average return of 19.0% and a 76.22% success rate. Chen covers the Energy sector, focusing on stocks such as Kinetik, Energy Transfer, and Enterprise Products Partners.

In addition to Barclays, Targa Resources also received a Buy from Scotiabank’s Brandon Bingham in a report issued on May 12. However, on May 11, TD Cowen assigned a Hold rating to Targa Resources (NYSE: TRGP).

Based on Targa Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $4.09 billion and a net profit of $479.6 million. In comparison, last year the company earned a revenue of $4.85 billion and had a net profit of $198.8 million

Based on the recent corporate insider activity of 48 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. Earlier this month, Charles Crisp, a Director at TRGP sold 10,602.00 shares for a total of $2,713,687.92.