The stock of Targa Resources Corp. (TRGP) has seen a -11.12% decrease in the past week, with a -11.34% drop in the past month, and a -3.51% decrease in the past quarter. The volatility ratio for the week is 3.93%, and the volatility levels for the past 30 days are at 2.98% for TRGP. The simple moving average for the last 20 days is -10.13% for TRGP stock, with a simple moving average of -2.26% for the last 200 days.
Is It Worth Investing in Targa Resources Corp. (NYSE: TRGP) Right Now?
Targa Resources Corp. (NYSE: TRGP) has a higher price-to-earnings ratio of 18.62x compared to its average ratio. compared to its average ratio and a 36-month beta value of 2.28. Analysts have mixed views on the stock, with 19 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Targa Resources Corp. (TRGP) is $98.25, which is $28.31 above the current market price. The public float for TRGP is 222.93M, and currently, short sellers hold a 2.02% ratio of that float. The average trading volume of TRGP on March 15, 2023 was 1.49M shares.
TRGP) stock’s latest price update
Targa Resources Corp. (NYSE: TRGP)’s stock price has decreased by -6.11 compared to its previous closing price of 72.37. However, the company has experienced a -11.12% decline in its stock price over the last five trading sessions.
Analysts’ Opinion of TRGP
The stock of Targa Resources Corp. (TRGP) has seen a -11.12% decrease in the past week, with a -11.34% drop in the past month, and a -3.51% decrease in the past quarter. The volatility ratio for the week is 3.93%, and the volatility levels for the past 30 days are at 2.98% for TRGP. The simple moving average for the last 20 days is -10.13% for TRGP stock, with a simple moving average of -2.26% for the last 200 days.
Analysts’ Opinion of TRGP
Many brokerage firms have already submitted their reports for TRGP stocks, with Scotiabank repeating the rating for TRGP by listing it as a “Sector Outperform.” The predicted price for TRGP in the upcoming period, according to Scotiabank is $115 based on the research report published on March 02nd of the current year 2023.
Citigroup, on the other hand, stated in their research note that they expect to see TRGP reach a price target of $95. The rating they have provided for TRGP stocks is “Buy” according to the report published on December 09th, 2022.
Goldman gave a rating of “Buy” to TRGP, setting the target price at $93 in the report published on September 08th of the previous year.
TRGP Trading at -9.26% 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 -16.63% of loss for the given period.
Volatility was left at 2.98%, however, over the last 30 days, the volatility rate increased by 3.93%, as shares sank -10.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.29% lower at present.
During the last 5 trading sessions, TRGP fell by -9.90%, which changed the moving average for the period of 200-days by -3.05% in comparison to the 20-day moving average, which settled at $75.19. In addition, Targa Resources Corp. saw -7.55% in overturn over a single year, with a tendency to cut further losses.
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 $76.11 back on Mar 02. After this action, Pryor D. Scott now owns 116,533 shares of Targa Resources Corp., valued at $1,522,276 using the latest closing price.
Chung Paul W, the Director of Targa Resources Corp., sale 18,246 shares at $75.43 during a trade that took place back on Mar 01, which means that Chung Paul W is holding 61,900 shares at $1,376,372 based on the most recent closing price.
Stock Fundamentals for TRGP
Current profitability levels for the company are sitting at:
- +8.30 for the present operating margin
- +9.78 for the gross margin
The net margin for Targa Resources Corp. stands at +5.46. Equity return is now at value 40.70, with 5.20 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.77.
Conclusion
To put it simply, Targa Resources Corp. (TRGP) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
