Targa Resources Corp. [NYSE: TRGP] gained 3.96% or 0.87 points to close at $22.83 with a heavy trading volume of 3930363 shares. It opened the trading session at $23.51, the shares rose to $23.55 and dropped to $21.51, the range by which the price of stock traded the whole day. The daily chart for TRGP points out that the company has recorded -38.48% loss over the past six months. However, it is still -523.77% lower than its most recent low trading price.
If we look at the average trading volume of 6.47M shares, TRGP reached to a volume of 3930363 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying about Targa Resources Corp. [TRGP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRGP shares is $21.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRGP stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 04, 2020. While these analysts kept the previous recommendation, Credit Suisse dropped their target price from $21 to $13. The new note on the price target was released on April 02, 2020, representing the official price target for Targa Resources Corp. stock. Previously, the target price had yet another raise to $12, while Barclays analysts kept a Equal Weight rating on TRGP stock.
The Average True Range (ATR) for Targa Resources Corp. is set at 2.02, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 1.76, with the Price to Cash per share for the same quarter was set at 1.62.
Trading performance analysis for TRGP stock
Targa Resources Corp. [TRGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.78. With this latest performance, TRGP shares gained by 51.90% in over the last four-week period, additionally sinking by -38.48% over the last 6 months – not to mention a drop of -37.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRGP stock in for the last two-week period is set at 63.97, with the RSI for the last a single of trading hit 61.19, and the three-weeks RSI is set at 61.70 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 14.56, while it was recorded at 21.37 for the last single week of trading, and 29.51 for the last 200 days.
Targa Resources Corp. [TRGP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Targa Resources Corp. [TRGP] shares currently have an operating margin of +5.92 and a Gross Margin at +9.16. Targa Resources Corp.’s Net Margin is presently recorded at -2.41.
Return on Total Capital for TRGP is now 3.32, given the latest momentum, and Return on Invested Capital for the company is -1.70. Return on Equity for this stock declined to -3.63, with Return on Assets sitting at -1.11. When it comes to the capital structure of this company, Targa Resources Corp. [TRGP] has a Total Debt to Total Equity ratio set at 151.50. Additionally, TRGP Total Debt to Total Capital is recorded at 60.24, with Total Debt to Total Assets ending up at 39.29. Long-Term Debt to Equity for the company is recorded at 152.16, with the Long-Term Debt to Total Capital now at 57.26.
Reflecting on the efficiency of the workforce at the company, Targa Resources Corp. [TRGP] managed to generate an average of -$78,060 per employee. Receivables Turnover for the company is 10.09 with a Total Asset Turnover recorded at a value of 0.46.Targa Resources Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.
Targa Resources Corp. [TRGP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Targa Resources Corp. posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.29/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 37.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRGP.
An analysis of insider ownership at Targa Resources Corp. [TRGP]
There are presently around $4,349 million, or 89.50% of TRGP stock, in the hands of institutional investors. The top three institutional holders of TRGP stocks are: VANGUARD GROUP INC with ownership of 23,645,570, which is approximately 3.981% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 14,197,521 shares of the stock with an approximate value of $311.78 million in TRGP stocks shares; and HARVEST FUND ADVISORS LLC, currently with $246.29 million in TRGP stock with ownership of nearly 4.124% of the company’s market capitalization.
Positions in Targa Resources Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 214 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 29,295,857 shares. Additionally, 254 investors decreased positions by around 43,237,244 shares, while 56 investors held positions by with 125,518,910 shares. The mentioned changes placed institutional holdings at 198,052,011 shares, according to the latest SEC report filing. TRGP stock had 59 new institutional investments in for a total of 3,739,840 shares, while 118 institutional investors sold positions of 7,115,819 shares during the same period.