You Should Know These Things About Targa Resources Corp. (TRGP)

As of Wednesday close, Targa Resources Corp.’s (NYSE:TRGP) stock was down -$3.45, moving down -5.44 percent to $60.02. The average number of shares traded per day over the past five days has been 3,430,400 shares. 1 time new highs have been achieved over the past 5 days, with a -$6.28 fall in that time frame. In the last twenty days, the average volume was 3,020,460, while in the previous 50 days, it was 2,277,748.

Since last month, TRGP stock retreated -13.57%. Shares of the company fell to $59.04 on 06/17/22, the lowest level in the past month. A 52-week high of $81.50 was reached on 04/21/22 after having rallying from a 52-week low of $38.81. Since the beginning of this year, TRGP’s stock price has risen by 14.89% or $7.78, and marked a new high 38 times. However, the stock has declined by -26.36% since its 52-week high.

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Targa Resources Corp. (TRGP) last reported insider trading activity 36 days ago on May 18. Pryor D. Scott, the of the company, disposed of 20,000 shares for $71.33 on May 18. It resulted in a $1,426,586 divestment by the insider. Chung Paul W sold 15,085 shares at an average price of $72.77 on May 17. The insider now owns 225,556 shares following the transaction. On May 16, Director Chung Paul W sold 3,568 shares at $73.34 apiece. The transaction was valued at $261,691.

Valuation Metrics

The stock’s beta is 2.39. Besides these, the trailing price-to-sales (P/S) ratio of 0.77, the price-to-book (PB) ratio of 8.08, and the price-to-cash flow ratio of 8.26 may also be considered.

The latest dividend of $0.35 per share was paid out, remained unchanged from last year’s $0.35. On Thursday January 20 2022, a $0.25 dividend increase was announced.

Financial Health

In the three months ended March 30, Targa Resources Corp.’s quick ratio stood at 0.60, while its current ratio was 0.70, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 4.10, and the total debt-to-equity ratio was 4.27. On the profitability front, the trailing twelve-month gross margin is 17.40% percent. In the year ended March 30, operating margins totaled 4.40%. Based on annual data, TRGP earned $864.8 million in gross profit and brought in $16.95 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 9.70%. Return on equity (ROE) for the past 12 months was -6.30%.

In Targa Resources Corp.’s quarter-end financial report for March 30, it reported total debt of $6.96 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TRGP’s revenue rose 26.75% to $5.44 billion during the quarter, while net income inched up to $4.96 billion. While analysts expected Targa Resources Corp. to report $0.86 quarterly earnings, the actual figure was $0.06 per share, beating the consensus estimate by -93.00%. During the quarter, the company generated $507.3 million in EBITDA. The liabilities of Targa Resources Corp. were 10.53 billion at the end of its most recent quarter ended March 30, and its total debt was $6.64 billion. The value of shareholders’ equity is $227.99 million.

Technical Picture

This quick technical analysis looks at Targa Resources Corp.’s (TRGP) price momentum. With a historical volatility rate of 50.32%, the RSI 9-day stood at 28.70% on 22 June.

With respect to its five-day moving average, the current Targa Resources Corp. price is down by -9.47% percent or -$6.28. At present, TRGP shares trade -13.34% below its 20-day simple moving average and +3.95% percent above its 100-day simple moving average. However, the stock is currently trading approximately -22.32% below its SMA50 and +33.23% above its SMA200.

Stochastic coefficient K was 10.96% and Stochastic coefficient D was 9.68%, while ATR was 3.70. Given the Stochastic reading of 4.59% for the 14-day period, the RSI (14) reading has been calculated as 32.89%. As of today, the MACD Oscillator reading stands at -4.67, while the 14-day reading stands at -8.84.

Analyst Ratings

Targa Resources Corp. (TRGP) has been rated Buy by analysts. According to 0 brokerage firms, TRGP is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Targa Resources Corp. stock as buy, with 17 recommending it as overweight.

With a median target price of $91.00, the current consensus forecast for the stock is $78.00 – $112.00. Based on these forecasts, analysts predict Targa Resources Corp. (TRGP) will achieve an average price target of $90.94.


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