Targa Resources Corp. Receives a Buy from UBS

By George MacDonald

UBS analyst Shneur Gershuni reiterated a Buy rating on Targa Resources Corp. (NYSE: TRGP) yesterday. The company’s shares opened today at $43.58.

According to TipRanks.com, Gershuni is a 4-star analyst with an average return of 6.3% and a 64.5% success rate. Gershuni covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Holly Energy Partners L.P., and Dcp Midstream Partners Lp.

Currently, the analyst consensus on Targa Resources Corp. is Moderate Buy and the average price target is $43.50, representing a -0.2% downside.

In a report issued on August 22, Stifel Nicolaus also maintained a Buy rating on the stock with a $48 price target.

The company has a one year high of $66.87 and a one year low of $14.55. Currently, Targa Resources Corp. has an average volume of 2.32M.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is neutral on the stock. Last month, Jeffrey Mcparland, a the President – Finance and Administration of TRGP sold 3,700 shares for a total of $166,981.

Pro-Targa Resources Corp. provides midstream natural gas and natural gas liquids services. The company engaged in the business of gathering, compressing, treating, processing, and selling natural gas and storing, fractionating, treating, transporting, and selling NGLs and NGL products. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. Targa Resources was founded on October 27, 2005 and is headquartered in Houston, TX.