Targa Resources Corp (NYSE: TRGP)’s stock price has surge by 2.39relation to previous closing price of 113.29. Nevertheless, the company has seen a 4.84% surge in its stock price over the last five trading sessions. CNBC Television reported 2024-03-25 that The Investment Committee give you their energy playbook after Morgan Stanley upgraded the sector to overweight.
Is It Worth Investing in Targa Resources Corp (NYSE: TRGP) Right Now?
Targa Resources Corp (NYSE: TRGP) has a price-to-earnings ratio that is above its average at 31.53x. The stock has a 36-month beta value of 2.22. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 6 as “overweight,” 8 as “hold,” and 0 as “sell.”
The public float for TRGP is 218.12M, and at present, short sellers hold a 1.98% of that float. On April 04, 2024, the average trading volume of TRGP was 1.72M shares.
TRGP’s Market Performance
TRGP stock saw an increase of 4.84% in the past week, with a monthly gain of 14.86% and a quarterly increase of 34.23%. The volatility ratio for the week is 1.49%, and the volatility levels for the last 30 days are 1.56% for Targa Resources Corp (TRGP). The simple moving average for the last 20 days is 7.32% for TRGP stock, with a simple moving average of 33.28% for the last 200 days.
Analysts’ Opinion of TRGP
Many brokerage firms have already submitted their reports for TRGP stocks, with Goldman repeating the rating for TRGP by listing it as a “Buy.” The predicted price for TRGP in the upcoming period, according to Goldman is $101 based on the research report published on October 06, 2023 of the previous year 2023.
Scotiabank, on the other hand, stated in their research note that they expect to see TRGP reach a price target of $115. The rating they have provided for TRGP stocks is “Sector Outperform” according to the report published on March 02nd, 2023.
Citigroup gave a rating of “Buy” to TRGP, setting the target price at $95 in the report published on December 09th of the previous year.
TRGP Trading at 18.72% 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 able to rebound, for now settling with 2.36% of gains for the given period.
Volatility was left at 1.56%, however, over the last 30 days, the volatility rate increased by 1.49%, as shares surge +13.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +38.41% upper at present.
During the last 5 trading sessions, TRGP rose by +4.84%, which changed the moving average for the period of 200-days by +61.31% in comparison to the 20-day moving average, which settled at $108.77. In addition, Targa Resources Corp saw 33.53% 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 Boushka Julie H., who sale 10,000 shares at the price of $100.96 back on Mar 05 ’24. After this action, Boushka Julie H. now owns 59,919 shares of Targa Resources Corp, valued at $1,009,600 using the latest closing price.
Pryor D. Scott, the of Targa Resources Corp, sale 10,000 shares at $97.00 during a trade that took place back on Feb 26 ’24, which means that Pryor D. Scott is holding 156,098 shares at $970,007 based on the most recent closing price.
Stock Fundamentals for TRGP
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.24 for the gross margin
The net margin for Targa Resources Corp stands at 0.08. The total capital return value is set at 0.14. Equity return is now at value 30.62, with 3.84 for asset returns.
Based on Targa Resources Corp (TRGP), the company’s capital structure generated 0.82 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at 4.64. The interest coverage ratio of the stock is 7.2.
Currently, EBITDA for the company is 3.52 billion with net debt to EBITDA at 3.26. When we switch over and look at the enterprise to sales, we see a ratio of 2.41. The receivables turnover for the company is 10.91for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.79.
Conclusion
To sum up, Targa Resources Corp (TRGP) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
