J.P. Morgan Keeps Their Buy Rating on Targa Resources (TRGP)

In a report released today, Jeremy Tonet from J.P. Morgan maintained a Buy rating on Targa Resources, with a price target of $260.00.

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According to TipRanks, Tonet is a 5-star analyst with an average return of 9.5% and a 61.87% success rate. Tonet covers the Energy sector, focusing on stocks such as Oneok, Cheniere Energy, and Enbridge.

In addition to J.P. Morgan, Targa Resources also received a Buy from TipRanks – Google’s Google Oil and Gas Midstream in a report issued today. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Targa Resources (NYSE: TRGP).

Based on Targa Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4.06 billion and a net profit of $545 million. In comparison, last year the company earned a revenue of $4.41 billion and had a net profit of $351 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, Lindsey Cooksen, a Director at TRGP sold 435.00 shares for a total of $100,793.85.