Targa Resources Corp (NYSE:TRGP) saw a downside of -0.23% to $85.12 after subtracting -$0.2 on Tuesday. The 5-day average trading volume is 1,166,495 shares of the company’s common stock. It has gained $86.36 in the past week and touched a new high 1 time within the past 5 days. An average of 1,409,654 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,450,819.
TRGP’s 1-month performance is 0.76% or $0.58 on its low of $83.06 reached on 09/21/23. The company’s shares have touched a 52-week low of $57.23 and high of $87.86, with the stock’s rally to the 52-week high happening on 09/01/23. YTD, TRGP has achieved 15.81% or $11.56 and has reached a new high 26 times. However, the current price is down -3.12% from the 52-week high price.
Insider Transactions
TRGP stock investors last saw insider trading activity on Sep 05. Muraro Robert (Chief Commercial Officer) most recently sold 2,500 shares at $87.22 per share on Sep 05. This transaction cost the insider $218,060. EVP – Operations, White G Clark, sold 2,577 shares at a price of $84.72 on Aug 11. Then, on August 10, Pryor D. Scott sold 11,901 shares at a price of $84.43 per share. This transaction amounted to $1,004,799.
Valuation Metrics
TRGP stock has a beta of 2.24. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.12 while the price-to-book (PB) in the most recent quarter is 7.13, with the price to cash flow ratio at 22.27.
Targa Resources Corp’s quick ratio for the period ended June 29 was 0.61, with the current ratio over the same period at 0.74. As well, the company’s long term debt to equity for the quarter ending June 29 was 4.43, while the total debt to equity was 4.65. In terms of profitability, the gross margin trailing 12 months is 11.18%. The trailing 12-month EBITDA margin is 13.56% while for the period ending June 29, Targa Resources Corp’s operating margin was 9.21%. The firm’s gross profit as reported stood at $1.73 billion against revenue of $20.93 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -13.18% to $329.3 million, while revenue of $6.3 million was 98.09% off the previous quarter. Analysts expected TRGP to announce $1.24 per share in earnings in its latest quarter, but it posted $1.44, representing a 16.10% surprise. EBITDA for the quarter stood at more than $984.4 million. TRGP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 14.92 billion, with total debt at $12.44 billion. Shareholders hold equity totaling $223.71 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 25 September was 51.11% to suggest the stock is trending Neutral, with historical volatility in this time period at 21.44%.
The stock’s 5-day moving average is $84.66, reflecting a -0.11% or -$0.09 change from its current price. TRGP is currently trading -0.27% above its 20-day SMA, +19.15% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +9.47% and SMA200 by+24.05%.
Stochastic %K and %D was 48.98% and 35.05% and the average true range (ATR) pointed at 1.69. The RSI (14) points at 52.34%, while the 14-day stochastic is at 55.40% with the period’s ATR at 1.66. The stock’s 9-day MACD Oscillator is pointing at -0.01 and 0.00 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Targa Resources Corp (NYSE: TRGP), Scotiabank launched coverage with a Sector outperform rating. 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 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 17 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 $89.00 and a high of $117.00, with their median price target at $101.00. Looking at these predictions, the average price target given by analysts is for Targa Resources Corp (TRGP) stock is $102.82.
