Barclays analyst Theresa Chen maintained a Buy rating on Targa Resources (TRGP – Research Report) yesterday and set a price target of $105.00. The company’s shares closed yesterday at $93.27.
Chen covers the Energy sector, focusing on stocks such as Valero Energy, Phillips 66, and TC Energy. According to TipRanks, Chen has an average return of 15.7% and a 75.88% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Targa Resources with a $107.33 average price target, implying a 15.07% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $109.00 price target.
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Based on Targa Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.91 billion and a net profit of $329.3 million. In comparison, last year the company earned a revenue of $6.06 billion and had a net profit of $596.4 million
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Targa Resources (TRGP) Company Description:
Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005 and is headquartered in Houston, TX.
Read More on TRGP:
- Targa Resources Corp. Announces Form 10-K Available
- Targa Resources Emphasizes Multi-Channel Disclosure Practices
- Targa Resources reports Q4 revenue $4.24M, consensus $3.85B
- Targa Resources Corp. Reports Record Fourth Quarter and Full Year 2023 Financial Results and Provides Outlook for 2024 and Positioning in 2025
- Is TRGP a Buy, Before Earnings?
