Targa Resources Corp. [TRGP] Stock trading around $68.67 per share: What’s Next?

Targa Resources Corp. [NYSE: TRGP] closed the trading session at $68.67 on 03/16/23. The day’s price range saw the stock hit a low of $65.57, while the highest price level was $68.85. The company report on February 27, 2023 that Targa Resources Corp. to Participate in Morgan Stanley Global Energy and Power Conference.

A copy of the slides used for the conference meetings will be available in the Investors section of the Company’s website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events.

The stocks have a year to date performance of -6.57 percent and weekly performance of -8.68 percent. The stock has been moved at -5.22 percent over the last six months. The stock has performed -11.07 percent around the most recent 30 days and changed -5.60 percent over the most recent 3-months.

If compared to the average trading volume of 1.52M shares, TRGP reached to a volume of 2809354 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 $96.26 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.

Scotiabank have made an estimate for Targa Resources Corp. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on December 09, 2022, representing the official price target for Targa Resources Corp. stock. Previously, the target price had yet another raise to $93, while Goldman analysts kept a Buy rating on TRGP stock.

The Average True Range (ATR) for Targa Resources Corp. is set at 2.60, with the Price to Sales ratio for TRGP stock in the period of the last 12 months amounting to 0.76. The Price to Book ratio for the last quarter was 5.83, with the Price to Cash per share for the same quarter was set at 0.95. Price to Free Cash Flow for TRGP in the course of the last twelve months was 7.31 with Quick ratio for the last quarter at 0.60.

TRGP stock trade performance evaluation

Targa Resources Corp. [TRGP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.68. With this latest performance, TRGP shares dropped by -11.07% in over the last four-week period, additionally sinking by -5.22% over the last 6 months – not to mention a rise of 5.74% 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 33.00, with the RSI for the last a single of trading hit 26.41, and the three-weeks RSI is set at 37.82 for Targa Resources Corp. [TRGP]. The present Moving Average for the last 50 days of trading for this stock 74.74, while it was recorded at 70.99 for the last single week of trading, and 69.49 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 +8.30 and a Gross Margin at +9.78. Targa Resources Corp.’s Net Margin is presently recorded at +5.46.

Return on Equity for this stock inclined to 42.10, with Return on Assets sitting at 6.09.

Targa Resources Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

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 32.20%.

Targa Resources Corp. [TRGP]: Insider Ownership positions

There are presently around $14,273 million, or 90.80% of TRGP stock, in the hands of institutional investors. The top three institutional holders of TRGP stocks are: VANGUARD GROUP INC with ownership of 25,884,922, which is approximately 14.729% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 18,399,642 shares of the stock with an approximate value of $1.26 billion in TRGP stocks shares; and STATE STREET CORP, currently with $1.07 billion in TRGP stock with ownership of nearly 76.558% of the company’s market capitalization.

Positions in Targa Resources Corp. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 294 institutional holders increased their position in Targa Resources Corp. [NYSE:TRGP] by around 26,741,809 shares. Additionally, 251 investors decreased positions by around 21,395,754 shares, while 83 investors held positions by with 159,715,668 shares. The mentioned changes placed institutional holdings at 207,853,231 shares, according to the latest SEC report filing. TRGP stock had 107 new institutional investments in for a total of 2,512,733 shares, while 60 institutional investors sold positions of 1,455,023 shares during the same period.