Morgan Stanley Sticks to Its Buy Rating for Targa Resources (TRGP)
In a report released today, Robert Kad from Morgan Stanley maintained a Buy rating on Targa Resources, with a price target of $266.00.
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According to TipRanks, Kad is a 4-star analyst with an average return of 7.9% and a 60.41% success rate. Kad covers the Energy sector, focusing on stocks such as Energy Transfer, Enterprise Products Partners, and Oneok.
Currently, the analyst consensus on Targa Resources is a Strong Buy with an average price target of $210.82.
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, Gerald Shrader, the EVP, GC and Secretary of TRGP sold 2,750.00 shares for a total of $498,327.50.
Read More on TRGP:
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- Targa Resources price target raised to $224 from $199 at Scotiabank
- Targa Resources price target raised to $207 from $205 at Wells Fargo
- Targa Resources price target raised to $199 from $198 at Scotiabank
- Targa Resources price target raised to $218 from $213 at RBC Capital
- Targa Resources to acquire Stakeholder Midstream for $1.25B in cash
