RBC Capital Sticks to Its Buy Rating for Targa Resources (TRGP)

In a report released yesterday, Elvira Scotto from RBC Capital maintained a Buy rating on Targa Resources, with a price target of $218.00.

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Scotto covers the Energy sector, focusing on stocks such as USA Compression, Targa Resources, and MPLX. According to TipRanks, Scotto has an average return of 12.1% and a 67.43% success rate on recommended stocks.

In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $266.00 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 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.