Market cap of Targa Resources Corp. [TRGP] reaches 15.18B – now what?

Targa Resources Corp. [NYSE: TRGP] surged by $2.49 during the normal trading session on Tuesday and reaching a high of $66.16 during the day while it closed the day at $65.85. The company report on October 6, 2022 that Targa Resources Set to Join S&P 500; Lantheus Holdings to Join S&P MidCap 400; Payoneer Global to Join S&P SmallCap 600.

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S&P MidCap 400 constituent Targa Resources Corp. (NYSE:TRGP) will replace Nielsen Holdings plc (NYSE:NLSN) in the S&P 500, S&P SmallCap 600 constituent Lantheus Holdings Inc. (NASD:LNTH) will replace Targa Resources in the S&P MidCap 400, and Payoneer Global Inc. (NASD:PAYO) will replace Lantheus Holdings in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, October 12. Elliot Management Corp is acquiring Nielsen Holdings in a transaction expected to close October 11.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:.

Targa Resources Corp. stock has also gained 0.73% of its value over the past 7 days. However, TRGP stock has inclined by 12.14% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.08% and gained 26.05% year-on date.

The market cap for TRGP stock reached $15.18 billion, with 227.80 million shares outstanding and 223.04 million shares in the current float. Compared to the average trading volume of 1.56M shares, TRGP reached a trading volume of 48983141 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $93.00 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 1.60. 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.

Goldman have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, Truist raised their target price to Buy. The new note on the price target was released on May 02, 2022, representing the official price target for Targa Resources Corp. stock. Previously, the target price had yet another raise from $58 to $85, while Mizuho kept a Buy rating on TRGP stock.

The Average True Range (ATR) for Targa Resources Corp. is set at 2.84, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.73. The Price to Book ratio for the last quarter was 7.24, with the Price to Cash per share for the same quarter was set at 0.67. Price to Free Cash Flow for TRGP in the course of the last twelve months was 10.13 with Quick ratio for the last quarter at 0.60.

TRGP stock trade performance evaluation

Targa Resources Corp. [TRGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.73. With this latest performance, TRGP shares dropped by -9.45% in over the last four-week period, additionally sinking by -13.08% over the last 6 months – not to mention a rise of 24.20% 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 51.63, with the RSI for the last a single of trading hit 55.28, and the three-weeks RSI is set at 50.33 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 67.10, while it was recorded at 64.80 for the last single week of trading, and 66.43 for the last 200 days.

Targa Resources Corp. [TRGP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Targa Resources Corp. [TRGP] shares currently have an operating margin of +10.44 and a Gross Margin at +12.00. Targa Resources Corp.’s Net Margin is presently recorded at +0.41.

Return on Equity for this stock inclined to 2.49, with Return on Assets sitting at 0.42.

Targa Resources Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

Earnings per share (EPS) analysis for Targa Resources Corp. [TRGP] stock

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 Ownership positions

There are presently around $13,101 million, or 89.50% of TRGP stock, in the hands of institutional investors. The top three institutional holders of TRGP stocks are: BLACKROCK INC. with ownership of 24,522,411, which is approximately 10.679% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 23,387,712 shares of the stock with an approximate value of $1.54 billion in TRGP stocks shares; and BLACKSTONE INC., currently with $717.24 million in TRGP stock with ownership of nearly 1.931% of the company’s market capitalization.

Positions in Targa Resources Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 255 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 18,988,158 shares. Additionally, 262 investors decreased positions by around 22,889,488 shares, while 90 investors held positions by with 157,078,896 shares. The mentioned changes placed institutional holdings at 198,956,542 shares, according to the latest SEC report filing. TRGP stock had 89 new institutional investments in for a total of 3,040,829 shares, while 76 institutional investors sold positions of 1,926,680 shares during the same period.


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