Targa Resources Corp. [NYSE: TRGP] stock went on an upward path that rose over 12.28% on Friday, amounting to a one-week price increase of more than 19.35%. The company report on June 4, 2021 that Targa Resources & Envestnet Set to Join S&P MidCap 400.
S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 effective prior to the opening of trading on Wednesday, June 9:.
Targa Resources Corp. (NYSE:TRGP) will replace CoreLogic Inc. (NYSE:CLGX). Stone Point Capital and Insight Partners are acquiring CoreLogic in a deal expected to be completed soon pending final closing conditions.
Over the last 12 months, TRGP stock rose by 111.14%. The one-year Targa Resources Corp. stock forecast points to a potential downside of -3.84. The average equity rating for TRGP stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.42 billion, with 228.50 million shares outstanding and 224.86 million shares in the current float. Compared to the average trading volume of 1.71M shares, TRGP stock reached a trading volume of 11427949 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 $44.55 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 1.90. 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.
Wolfe Research have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 14, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on March 18, 2021, representing the official price target for Targa Resources Corp. stock. Previously, the target price had yet another raise to $35, while Seaport Global Securities analysts kept a Buy rating on TRGP stock.
The Average True Range (ATR) for Targa Resources Corp. is set at 1.42, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 4.60, with the Price to Cash per share for the same quarter was set at 1.22. Price to Free Cash Flow for TRGP in the course of the last twelve months was 7.64 with Quick ratio for the last quarter at 0.80.
TRGP Stock Performance Analysis:
Targa Resources Corp. [TRGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.35. With this latest performance, TRGP shares gained by 26.98% in over the last four-week period, additionally plugging by 91.39% over the last 6 months – not to mention a rise of 111.14% 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 84.39, with the RSI for the last a single of trading hit 89.02, and the three-weeks RSI is set at 80.25 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 35.44, while it was recorded at 41.36 for the last single week of trading, and 26.70 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 +15.30 and a Gross Margin at +18.40. Targa Resources Corp.’s Net Margin is presently recorded at -18.78.
Return on Total Capital for TRGP is now 8.27, given the latest momentum, and Return on Invested Capital for the company is -13.47. Return on Equity for this stock declined to -38.11, with Return on Assets sitting at -8.33. When it comes to the capital structure of this company, Targa Resources Corp. [TRGP] has a Total Debt to Total Equity ratio set at 264.40. Additionally, TRGP Total Debt to Total Capital is recorded at 72.56, with Total Debt to Total Assets ending up at 45.29. Long-Term Debt to Equity for the company is recorded at 280.09, with the Long-Term Debt to Total Capital now at 69.02.
Reflecting on the efficiency of the workforce at the company, Targa Resources Corp. [TRGP] managed to generate an average of -$655,101 per employee. Receivables Turnover for the company is 9.63 with a Total Asset Turnover recorded at a value of 0.44.Targa Resources Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.
TRGP Stock EPS
With the latest financial reports released by the company, Targa Resources Corp. posted 0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 261.50%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Targa Resources Corp. go to 5.70%.
Targa Resources Corp. [TRGP] Insider Position Details
There are presently around $9,103 million, or 86.80% of TRGP stock, in the hands of institutional investors. The top three institutional holders of TRGP stocks are: VANGUARD GROUP INC with ownership of 23,506,314, which is approximately 1.038% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 13,015,055 shares of the stock with an approximate value of $602.08 million in TRGP stocks shares; and BLACKSTONE GROUP INC, currently with $517.04 million in TRGP stock with ownership of nearly 0.41% 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 177 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 20,385,855 shares. Additionally, 188 investors decreased positions by around 20,870,843 shares, while 64 investors held positions by with 155,520,545 shares. The mentioned changes placed institutional holdings at 196,777,243 shares, according to the latest SEC report filing. TRGP stock had 63 new institutional investments in for a total of 1,388,709 shares, while 40 institutional investors sold positions of 1,318,495 shares during the same period.