At the time of writing, Targa Resources Corp [TRGP] stock is trading at $107.36, up 1.31%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The TRGP shares have gain 2.64% over the last week, with a monthly amount glided 15.11%, and seem to be holding up well over a long-time horizon.
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On 1, March 2024, Targa Resources Corp. to Participate in Morgan Stanley Energy & Power Conference. 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 Morgan Stanley Energy & Power Conference in New York City, NY on Wednesday, March 6, 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.
For the past year, the stock price of Targa Resources Corp fluctuated between $64.85 and $107.28. 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 $107.36 at the most recent close of the market. An investor can expect a potential drop of -22.19% based on the average TRGP price forecast.
Analyzing the TRGP fundamentals
According to Targa Resources Corp [NYSE:TRGP], the company’s sales were 15.62B for trailing twelve months, which represents an 10.76% jump. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.16%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is 0.51 and Total Capital is 0.14. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 4.64.
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 106.45 points at the first support level, and at 105.55 for the second support level. However, for the 1st resistance point, the stock is sitting at 107.85, and for the 2nd resistance point, it is at 108.35.
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
It is important to note that Targa Resources Corp [NYSE:TRGP] has a current ratio of 0.79. In addition, the Quick Ratio stands at 0.66 and the Cash Ratio stands at 0.05. Considering the valuation of this stock, the price to sales ratio is 1.53, the price to book ratio is 8.72 and price to earnings (TTM) ratio is 29.19.
Transactions by insiders
Recent insider trading involved Boushka Julie H., Senior VP and CAO, that happened on Mar 05 ’24 when 10000.0 shares were sold., Pryor D. Scott completed a deal on Feb 26 ’24 to sell 10000.0 shares. Meanwhile, Chief Commercial Officer Muraro Robert sold 10000.0 shares on Feb 23 ’24.
