Targa Resources Corp. [TRGP] Revenue clocked in at $7.95 billion, down -60.45% YTD: What’s Next?

Targa Resources Corp. [NYSE: TRGP] gained 7.45% on the last trading session, reaching $16.15 price per share at the time. The company report on September 16, 2020 that Targa Resources Corp. Releases Sustainability Report.

Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that its Sustainability Report for 2019 is now available on the Company’s website at https://www.targaresources.com/sustainability.

The report advances Targa’s sustainability disclosures and highlights Targa’s framework of policies, practices and systems in the areas of Safety, Environmental, Social and Governance (ESG). The report references the Global Reporting Initiative (GRI) Standards – Core option and Sustainability Accounting Standards Board (SASB).

Targa Resources Corp. represents 233.10 million in outstanding shares, while the company has a total market value of $3.81 billion with the latest information. TRGP stock price has been found in the range of $15.15 to $16.50.

If compared to the average trading volume of 2.58M shares, TRGP reached a trading volume of 2671347 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $24.53 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 2.40. 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.

BofA Securities have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 19, 2020. The new note on the price target was released on August 14, 2020, representing the official price target for Targa Resources Corp. stock. On June 04, 2020, analysts increased their price target for TRGP shares from 12 to 26.

The Average True Range (ATR) for Targa Resources Corp. is set at 0.87, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.48. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 0.83.

Trading performance analysis for TRGP stock

Targa Resources Corp. [TRGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.73. With this latest performance, TRGP shares dropped by -17.60% in over the last four-week period, additionally plugging by 241.44% over the last 6 months – not to mention a drop of -60.91% 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 44.23, with the RSI for the last a single of trading hit 47.35, and the three-weeks RSI is set at 43.72 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 18.04, while it was recorded at 15.20 for the last single week of trading, and 22.84 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 0.80 and a Current Ratio set at 0.90.

Targa Resources Corp. [TRGP]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Targa Resources Corp. posted -0.34/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -61.90%. 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 $3,369 million, or 85.50% of TRGP stock, in the hands of institutional investors. The top three institutional holders of TRGP stocks are: VANGUARD GROUP INC with ownership of 21,905,041, which is approximately -7.361% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 11,954,024 shares of the stock with an approximate value of $193.06 million in TRGP stocks shares; and TORTOISE CAPITAL ADVISORS, L.L.C., currently with $191.58 million in TRGP stock with ownership of nearly 123.107% of the company’s market capitalization.

Positions in Targa Resources Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 146 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 43,914,384 shares. Additionally, 254 investors decreased positions by around 31,114,866 shares, while 54 investors held positions by with 133,587,048 shares. The mentioned changes placed institutional holdings at 208,616,298 shares, according to the latest SEC report filing. TRGP stock had 53 new institutional investments in for a total of 8,226,433 shares, while 99 institutional investors sold positions of 3,944,331 shares during the same period.

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