The stock of Targa Resources Corp (NYSE: TRGP) has increased by 1.35 when compared to last closing price of 164.41.Despite this, the company has seen a gain of 0.48% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-24 that Big dividend infrastructure stocks have surged recently. We discuss the two major catalysts for this surge. We also share several opportunities that remain very attractive in the space.
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 34.93x, Company’s 36-month beta value is 2.25.Analysts have differing opinions on the stock, with 5 analysts rating it as a “buy,” 6 as “overweight,” 8 as “hold,” and 0 as “sell.”
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The public float for TRGP is 215.40M, and currently, short sellers hold a 1.57% ratio of that floaft. The average trading volume of TRGP on October 31, 2024 was 1.78M shares.
TRGP’s Market Performance
The stock of Targa Resources Corp (TRGP) has seen a 0.48% increase in the past week, with a 10.66% rise in the past month, and a 22.43% gain in the past quarter. The volatility ratio for the week is 2.31%, and the volatility levels for the past 30 days are at 2.17% for TRGP. The simple moving average for the last 20 days is 2.22% for TRGP’s stock, with a simple moving average of 34.09% for the last 200 days.
Analysts’ Opinion of TRGP
Many brokerage firms have already submitted their reports for TRGP stocks, with BofA Securities repeating the rating for TRGP by listing it as a “Buy.” The predicted price for TRGP in the upcoming period, according to BofA Securities is $182 based on the research report published on October 17, 2024 of the current year 2024.
Goldman, on the other hand, stated in their research note that they expect to see TRGP reach a price target of $101. The rating they have provided for TRGP stocks is “Buy” according to the report published on October 06th, 2023.
Scotiabank gave a rating of “Sector Outperform” to TRGP, setting the target price at $115 in the report published on March 02nd of the previous year.
TRGP Trading at 8.04% 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 -1.94% of loss for the given period.
Volatility was left at 2.17%, however, over the last 30 days, the volatility rate increased by 2.31%, as shares surge +8.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.68% upper at present.
During the last 5 trading sessions, TRGP rose by +0.48%, which changed the moving average for the period of 200-days by +101.90% in comparison to the 20-day moving average, which settled at $163.02. In addition, Targa Resources Corp saw 91.82% 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 Perkins Joe Bob, who sale 150,000 shares at the price of $155.53 back on Sep 24 ’24. After this action, Perkins Joe Bob now owns 110,470 shares of Targa Resources Corp, valued at $23,329,500 using the latest closing price.
Muraro Robert, the Chief Commercial Officer of Targa Resources Corp, sale 2,500 shares at $146.20 during a trade that took place back on Sep 03 ’24, which means that Muraro Robert is holding 174,451 shares at $365,504 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
- 0.19 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 41.41, with 5.23 for asset returns.
Based on Targa Resources Corp (TRGP), the company’s capital structure generated 0.84 points at debt to capital in total, while cash flow to debt ratio is standing at 0.24. The debt to equity ratio resting at 5.4. The interest coverage ratio of the stock is 7.97.
Currently, EBITDA for the company is 3.52 billion with net debt to EBITDA at 3.49. When we switch over and look at the enterprise to sales, we see a ratio of 3.06. The receivables turnover for the company is 13.43for 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 0.65.
Conclusion
In a nutshell, Targa Resources Corp (TRGP) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
