As of Thursday close, Targa Resources Corp.’s (NYSE:TRGP) stock was down -$2.36, moving down -2.76 percent to $83.07. The average number of shares traded per day over the past five days has been 1,711,060 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.67 fall in that time frame. In the last twenty days, the average volume was 1,455,735, while in the previous 50 days, it was 1,455,602.
Since last month, TRGP stock retreated -0.75%. Shares of the company fell to $82.14 on 08/23/23, the lowest level in the past month. A 52-week high of $87.86 was reached on 09/01/23 after having rallying from a 52-week low of $57.23. Since the beginning of this year, TRGP’s stock price has risen by 13.02% or $9.57, and marked a new high 26 times. However, the stock has declined by -5.45% since its 52-week high.
TRGP stock investors should be aware that Targa Resources Corp. (TRGP) stock had its last reported insider trading activity 17 days ago on Sep 05. Muraro Robert, the Chief Commercial Officer of the company, disposed of 2,500 shares for $87.22 on Sep 05. It resulted in a $218,060 divestment by the insider. White G Clark sold 2,577 shares at an average price of $84.72 on Aug 11. The insider now owns 122,865 shares following the transaction. On Aug 10, Pryor D. Scott sold 11,901 shares at $84.43 apiece. The transaction was valued at $1,004,799.
Valuation Metrics
Right now, Targa Resources Corp. (TRGP) has a P/E ratio of about 22.45. The stock’s beta is 2.25. Besides these, the trailing price-to-sales (P/S) ratio of 1.06, the price-to-book (PB) ratio of 7.00, and the price-to-cash flow ratio of 22.05 may also be considered.
The latest dividend of $0.50 per share was paid out, remained unchanged from last year’s $0.50. On Thursday April 13 2023, a $0.15 dividend increase was announced.
Financial Health
In the three months ended June 29, 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 June 29 was 4.42, and the total debt-to-equity ratio was 4.63. On the profitability front, the trailing twelve-month gross margin is 28.70% percent. In the year ended June 29, EBITDA margin amounted to 13.56%, whereas operating margins totaled 13.80%. Based on annual data, TRGP earned $1.73 billion in gross profit and brought in $20.93 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 14.00%. Return on equity (ROE) for the past 12 months was 33.00%.
In Targa Resources Corp.’s quarter-end financial report for June 29, it reported total debt of $11.81 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 fell -77.92% to $4.52 billion during the quarter, while net income inched up to $3.4 billion. While analysts expected Targa Resources Corp. to report $1.24 quarterly earnings, the actual figure was $1.44 per share, beating the consensus estimate by 16.10%. During the quarter, the company generated $984.4 million in EBITDA. The liabilities of Targa Resources Corp. were 14.92 billion at the end of its most recent quarter ended June 29, and its total debt was $12.44 billion. The value of shareholders’ equity is $223.71 million.
Technical Picture
This quick technical analysis looks at Targa Resources Corp.’s (TRGP) price momentum. With a historical volatility rate of 22.17%, the RSI 9-day stood at 37.79% on 21 September.
With respect to its five-day moving average, the current Targa Resources Corp. price is down by -3.11% percent or -$2.67. At present, TRGP shares trade -0.67% below its 20-day simple moving average and +9.98% percent above its 100-day simple moving average. However, the stock is currently trading approximately +5.13% above its SMA50 and +10.48% above its SMA200.
Stochastic coefficient K was 29.81% and Stochastic coefficient D was 39.61%, while ATR was 1.70. Given the Stochastic reading of 0.21% for the 14-day period, the RSI (14) reading has been calculated as 43.76%. As of today, the MACD Oscillator reading stands at -0.28, while the 14-day reading stands at -0.72.
Analyst Ratings
Scotiabank launched its rating on Targa Resources Corp. (NYSE: TRGP) to a Sector outperform in a note to investors on March 02, 2023. 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 3 analysts rate Targa Resources Corp. stock as buy, with 17 recommending it as overweight.
With a median target price of $101.00, the current consensus forecast for the stock is $89.00 – $117.00. Based on these forecasts, analysts predict Targa Resources Corp. (TRGP) will achieve an average price target of $102.82.
