Targa Resources Corp. [TRGP] fell -60.76% so far this year. What now?

Targa Resources Corp. [NYSE: TRGP] stock went on a downward path that fall over -3.20% on Monday, amounting to a one-week price decrease of less than -4.64%. The company report on October 16, 2020 that Targa Resources Corp. Announces Quarterly Dividends and Timing of Third Quarter 2020 Earnings Webcast.

Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP) announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the third quarter of 2020.

Targa announced today that its board of directors has declared a quarterly cash dividend of $0.10 per common share, or $0.40 per common share on an annualized basis, for the third quarter of 2020. This cash dividend will be paid November 16, 2020 on all outstanding common shares to holders of record as of the close of business on October 30, 2020.

Over the last 12 months, TRGP stock dropped by -59.31%. The one-year Targa Resources Corp. stock forecast points to a potential upside of 34.96. The average equity rating for TRGP stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.90 billion, with 233.10 million shares outstanding and 229.29 million shares in the current float. Compared to the average trading volume of 2.50M shares, TRGP stock reached a trading volume of 2225605 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $24.63 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 2.20. 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.

Morgan Stanley have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 25, 2020. The new note on the price target was released on August 19, 2020, representing the official price target for Targa Resources Corp. stock.

The Average True Range (ATR) for Targa Resources Corp. is set at 0.90, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.81.

TRGP Stock Performance Analysis:

Targa Resources Corp. [TRGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.64. With this latest performance, TRGP shares gained by 4.30% in over the last four-week period, additionally plugging by 104.34% over the last 6 months – not to mention a drop of -59.31% 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 48.39, with the RSI for the last a single of trading hit 48.30, and the three-weeks RSI is set at 48.62 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 16.56, while it was recorded at 16.81 for the last single week of trading, and 20.21 for the last 200 days.

Insight into Targa Resources Corp. Fundamentals:

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.

TRGP Stock EPS

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.

Targa Resources Corp. [TRGP] Insider Position Details

There are presently around $3,332 million, or 85.30% 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 $191.5 million in TRGP stocks shares; and TORTOISE CAPITAL ADVISORS, L.L.C., currently with $190.04 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 150 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 43,063,207 shares. Additionally, 242 investors decreased positions by around 30,774,999 shares, while 53 investors held positions by with 134,132,934 shares. The mentioned changes placed institutional holdings at 207,971,140 shares, according to the latest SEC report filing. TRGP stock had 57 new institutional investments in for a total of 8,262,381 shares, while 88 institutional investors sold positions of 3,049,596 shares during the same period.

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