Targa Resources Corp (NYSE: TRGP)’s stock price has soared by 0.85 in relation to previous closing price of 134.14. Nevertheless, the company has seen a gain of 2.78% in its stock price over the last five trading days. zacks.com reported 2024-07-29 that Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Targa Resources, Inc. (TRGP) have what it takes?
Is It Worth Investing in Targa Resources Corp (NYSE: TRGP) Right Now?
The price-to-earnings ratio for Targa Resources Corp (NYSE: TRGP) is above average at 27.77x. The 36-month beta value for TRGP is also noteworthy at 2.26. There are mixed opinions on the stock, with 15 analysts rating it as a “buy,” 6 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for TRGP is 217.82M, and at present, short sellers hold a 1.60% of that float. The average trading volume of TRGP on August 01, 2024 was 1.40M shares.
TRGP’s Market Performance
TRGP’s stock has seen a 2.78% increase for the week, with a 3.05% rise in the past month and a 18.60% gain in the past quarter. The volatility ratio for the week is 1.63%, and the volatility levels for the past 30 days are at 1.64% for Targa Resources Corp The simple moving average for the last 20 days is 1.13% for TRGP’s stock, with a simple moving average of 30.76% 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 7.42% 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 -2.17% of loss for the given period.
Volatility was left at 1.64%, however, over the last 30 days, the volatility rate increased by 1.63%, as shares surge +3.27% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.97% upper at present.
During the last 5 trading sessions, TRGP rose by +2.78%, which changed the moving average for the period of 200-days by +58.19% in comparison to the 20-day moving average, which settled at $133.98. In addition, Targa Resources Corp saw 55.73% 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 Muraro Robert, who sale 9,900 shares at the price of $130.31 back on Jun 28 ’24. After this action, Muraro Robert now owns 186,951 shares of Targa Resources Corp, valued at $1,290,062 using the latest closing price.
Muraro Robert, the Chief Commercial Officer of Targa Resources Corp, sale 100 shares at $130.00 during a trade that took place back on Jun 26 ’24, which means that Muraro Robert is holding 196,851 shares at $13,000 based on the most recent closing price.
Stock Fundamentals for TRGP
Current profitability levels for the company are sitting at:
- 0.15 for the present operating margin
- 0.21 for the gross margin
The net margin for Targa Resources Corp stands at 0.07. The total capital return value is set at 0.14. Equity return is now at value 41.65, with 5.49 for asset returns.
Based on Targa Resources Corp (TRGP), the company’s capital structure generated 0.83 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 4.74. The interest coverage ratio of the stock is 8.1.
Currently, EBITDA for the company is 3.52 billion with net debt to EBITDA at 3.42. When we switch over and look at the enterprise to sales, we see a ratio of 2.67. The receivables turnover for the company is 10.87for trailing twelve months and the total asset turnover is 0.77. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.70.
Conclusion
In summary, Targa Resources Corp (TRGP) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
