A share price of Targa Resources Corp [TRGP] is currently trading at $97.03, down -1.35%. An important factor to consider is whether the stock is rising or falling in short-term value. The TRGP shares have gain 4.03% over the last week, with a monthly amount glided 15.54%, and seem to be holding up well over a long-time horizon.
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On 21, February 2024, Targa Resources Corp. to Participate in THRIVE Energy Conference by Daniel Energy Partners. In a post published today on Yahoo Finance, Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that representatives from the Company will participate in investor meetings at the THRIVE Energy Conference by Daniel Energy Partners in Houston, TX on Wednesday, February 21, 2024.
From an analyst’s perspective:
Previously, Scotiabank started tracking the stock with Sector Outperform rating on March 02, 2023, and set its price target to $115. On December 09, 2022, Citigroup initiated with a Buy rating and assigned a price target of $95 on the stock. Mizuho upgraded its rating to Buy for this stock on March 18, 2022, and upped its price target to $85. In a note dated February 07, 2022, Evercore ISI upgraded an Outperform rating on this stock but restated the target price of $62.
Targa Resources Corp experienced fluctuations in its stock price throughout the past year between $64.85 and $99.04. Currently, Wall Street analysts expect the stock to reach $83.54 within the next 12 months. Targa Resources Corp [NYSE: TRGP] shares were valued at $97.03 at the most recent close of the market. An investor can expect a potential drop of -13.9% based on the average TRGP price forecast.
Analyzing the TRGP fundamentals
Trailing Twelve Months sales for Targa Resources Corp [NYSE:TRGP] were 15.62B which represents 10.76% growth. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 96.52 points at the first support level, and at 96.02 for the second support level. However, for the 1st resistance point, the stock is sitting at 97.84, and for the 2nd resistance point, it is at 98.66.
Targa Resources Corp [TRGP] reported earnings per share of $1.26 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.46/share, meaning a difference of -$0.2 and a surprise factor of -13.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.97 per share as compared to estimates of $1.2 per share, a difference of -$0.23 representing a surprise of -19.20%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Targa Resources Corp [NYSE:TRGP] is 0.79. On the other hand, the Quick Ratio is 0.66, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 1.39, the price to book ratio is 7.88 and price to earnings (TTM) ratio is 26.38.
Transactions by insiders
Recent insider trading involved Perkins Joe Bob, Director, that happened on Feb 22 when 45175.0 shares were sold. Director, Perkins Joe Bob completed a deal on Feb 22 to sell 33405.0 shares. Meanwhile, Chief Financial Officer Kneale Jennifer R. sold 26061.0 shares on Feb 21.
