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Why Targa Resources Corp. (TRGP)’s Most Recent Report Reveals Some Hints About Its Future

Targa Resources Corp. (NYSE:TRGP) went down by -5.41% from its latest closing price compared to the recent 1-year high of $81.50. The company’s stock price has collected -5.06% of loss in the last five trading sessions.

Is It Worth Investing in Targa Resources Corp. (NYSE :TRGP) Right Now?

Plus, the 36-month beta value for TRGP is at 2.45. Opinions of the stock are interesting as 15 analysts out of 18 who provided ratings for Targa Resources Corp. declared the stock was a “buy,” while 2 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $91.44, which is $26.19 above the current price. TRGP currently public float of 224.41M and currently shorts hold a 1.82% ratio of that float. Today, the average trading volume of TRGP was 2.29M shares.

TRGP’s Market Performance

TRGP stocks went down by -5.06% for the week, with a monthly jump of 13.61% and a quarterly performance of -18.05%, while its annual performance rate touched 54.41%. The volatility ratio for the week stands at 3.58% while the volatility levels for the past 30 days are set at 3.55% for Targa Resources Corp. The simple moving average for the period of the last 20 days is 1.47% for TRGP stocks with a simple moving average of 1.07% for the last 200 days.

Analysts’ Opinion of TRGP

Many brokerage firms have already submitted their reports for TRGP stocks, with Truist repeating the rating for TRGP by listing it as a “Buy.” The predicted price for TRGP in the upcoming period, according to Truist is $78 based on the research report published on May 02nd of the current year 2022.

Mizuho, on the other hand, stated in their research note that they expect to see TRGP reach a price target of $85, previously predicting the price at $58. The rating they have provided for TRGP stocks is “Buy” according to the report published on March 18th, 2022.

Evercore ISI gave a rating of “Outperform” to TRGP, setting the target price at $62 in the report published on February 07th of the current year.

TRGP Trading at -2.50% from the 50-Day Moving Average

After a stumble in the market that brought TRGP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -21.55% of loss for the given period.

Volatility was left at 3.55%, however, over the last 30 days, the volatility rate increased by 3.58%, as shares surge +6.89% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.68% lower at present.

During the last 5 trading sessions, TRGP fell by -5.06%, which changed the moving average for the period of 200-days by +13.45% in comparison to the 20-day moving average, which settled at $63.22. In addition, Targa Resources Corp. saw 22.40% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at TRGP starting from Pryor D. Scott, who sale 20,000 shares at the price of $71.33 back on May 18. After this action, Pryor D. Scott now owns 81,233 shares of Targa Resources Corp., valued at $1,426,586 using the latest closing price.

Chung Paul W, the Director of Targa Resources Corp., sale 15,085 shares at $72.77 during a trade that took place back on May 17, which means that Chung Paul W is holding 225,556 shares at $1,097,780 based on the most recent closing price.

Stock Fundamentals for TRGP

Current profitability levels for the company are sitting at:

  • +10.44 for the present operating margin
  • +12.00 for the gross margin

The net margin for Targa Resources Corp. stands at +0.41. Equity return is now at value -6.30, with -0.80 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.77.

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