Wells Fargo Keeps Their Buy Rating on Targa Resources (TRGP)

Wells Fargo analyst Michael Blum maintained a Buy rating on Targa Resources yesterday and set a price target of $205.00. The company’s shares closed yesterday at $176.41.

Claim 50% Off TipRanks Premium and Invest with Confidence

• Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
• Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential

According to TipRanks, Blum is a 5-star analyst with an average return of 14.1% and a 66.67% success rate. Blum covers the Energy sector, focusing on stocks such as Venture Global, Inc. Class A, Cheniere Energy, and Energy Transfer.

Targa Resources has an analyst consensus of Strong Buy, with a price target consensus of $208.77, which is a 18.34% upside from current levels. In a report released on December 9, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $202.00 price target.

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 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, Gerald Shrader, the EVP, GC and Secretary of TRGP sold 2,750.00 shares for a total of $498,327.50.