Targa Resources Corp. (NYSE:TRGP) saw an upside of 1.41% to close Tuesday at $53.77 after adding $0.75 on the day. The 5-day average trading volume is 1,162,160 shares of the company’s common stock. It has gained $54.39 in the past week. An average of 1,504,030 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,371,492.
TRGP’s 1-month performance is 20.18% or $10.28 on its low of $43.22 reached on 09/20/21. The company’s shares have touched a 52-week low of $15.21 and high of $53.87, with the stock’s rally to the 52-week high happening on 10/12/21. YTD, TRGP has achieved 103.83% or $27.39. However, the current price is down -0.19%% from the 52-week high price.
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On Jun 04, 131 days have gone by since the last insider trading activity for Targa Resources Corp. (TRGP). Perkins Joe Bob (Director) most recently sold 30,000 shares at $45.26 per share on Jun 04. This transaction cost the insider $1,357,749. Director, Perkins Joe Bob, sold 60,000 shares at a price of $45.37 on Jun 04. Then, on Jun 02, Director Perkins Joe Bob sold 12,667 shares at a price of $40.16 per share. This transaction amounted to $508,689.
The company’s PE ratio for the last five years has touched a high of 112.53 and a low of 25.65. TRGP stock has a beta of 2.93. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.04 while the price-to-book (PB) in the most recent quarter is 5.62, with the price to cash flow ratio at 6.90.
Targa Resources Corp. pays an annual dividend of $0.40 per share. Its dividend yield is 0.74% and the payout ratio is 47.00%. TRGP’s most recent quarterly dividend payment was made on Aug. 16, when it paid $0.10 a share compared with prior rate of $0.10, down 0.0% from last year’s. The company has boosted its dividend for the last 2 consecutive years with the latest dividend decrease of $0.81 reported on Monday April 20 2020. Measured over the last 3 years, the Dividend has been growing by -66.76% yearly.
It is projected that Targa Resources Corp.’s next ex-dividend date will be on 29-Oct-2021. TRGP is expected to distribute $0.10 as its next dividend.
Targa Resources Corp.’s quick ratio for the period ended June 29 was 0.60, with the current ratio over the same period at 0.60 meaning that TRGP stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 3.02, while the total debt to equity was 3.19. In terms of profitability, the gross margin trailing 12 months is 26.70%. The trailing 12-month EBITDA margin is 25.80% while for the period ending June 29; Targa Resources Corp.’s operating margin was 9.50%. The firm’s gross profit as reported stood at -$1.3 billion against revenue of $8.26 billion.
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected TRGP to announce $0.27 per share in earnings in its latest quarter, but it posted $0.15, representing a -44.40% surprise. EBITDA for the quarter stood at more than $460.2 million. TRGP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 9.27 billion, with total debt at $6.98 billion. Shareholders hold equity totaling $228.66 million
Let’s look briefly at Targa Resources Corp. (TRGP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 83.09% to suggest the stock is trending Overbought, with historical volatility in this time period at 17.50%.
The stock’s 5-day moving average is $52.74, reflecting a +2.97% or $1.55 change from its current price. TRGP is currently trading +21.65% above its 20-day SMA, +39.12% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +29.47% and +102.52% respectively.
Stochastic %K and %D was 92.28% and 91.54% and the average true range (ATR) pointed at 1.45. The RSI (14) points at 77.01%, while the 14-day stochastic is at 92.52% with the period’s ATR at 1.45. The stock’s 9-day MACD Oscillator is pointing at 1.17 and 2.37 on the 14-day charts.
Analysts offering their rating for TRGP stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate TRGP as a “sell,”, while 3 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 19 have offered a “buy” rating.
What is TRGP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $44.00 and a high of $67.00, with their median price target at $55.00. Looking at these predictions, the average price target given by analysts is for Targa Resources Corp. (TRGP) stock is $54.55.