Targa Resources (TRGP) Receives a Buy from Scotiabank
In a report released today, Brandon Bingham from Scotiabank maintained a Buy rating on Targa Resources, with a price target of $198.00.
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According to TipRanks, Bingham is an analyst with an average return of -8.9% and a 29.55% success rate. Bingham covers the Energy sector, focusing on stocks such as Enterprise Products Partners, Targa Resources, and Kinetik.
Targa Resources has an analyst consensus of Strong Buy, with a price target consensus of $208.67.
Based on Targa Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.2 billion and a net profit of $475.5 million. In comparison, last year the company earned a revenue of $3.89 billion and had a net profit of $384.5 million
Based on the recent corporate insider activity of 47 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. Last month, D. Scott Pryor, the President – Logistics and Transportation of TRGP sold 20,000.00 shares for a total of $3,444,000.00.
Read More on TRGP:
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- Targa Resources to acquire Stakeholder Midstream for $1.25B in cash
- Targa Resources price target raised to $213 from $208 at RBC Capital
- Targa Resources price target lowered to $198 from $199 at Scotiabank
- Targa Resources price target lowered to $188 from $189 at Goldman Sachs
- Targa Resources Completes $1.75 Billion Senior Notes Offering
