The price-to-earnings ratio for Targa Resources Corp (NYSE: TRGP) is 34.77x, which is above its average ratio. Moreover, the 36-month beta value for TRGP is 2.27. Analysts have varying opinions on the stock, with 5 analysts rating it as a “buy,” 6 as “overweight,” 8 as “hold,” and 0 as “sell.”
The public float for TRGP is 214.40M and currently, short sellers hold a 1.63% of that float. On November 14, 2024, TRGP’s average trading volume was 1.70M shares.
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TRGP) stock’s latest price update
Targa Resources Corp (NYSE: TRGP)’s stock price has dropped by -0.67 in relation to previous closing price of 194.31. Nevertheless, the company has seen a gain of 3.74% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-13 that TRGP’s price performance over the last several months has been incredibly strong, pushing it out past my price target for 2026. The new growth projects announced by the company will likely cause the company to increase debt levels in 2025, although still at manageable levels. Targa Resources will become a full taxpayer by 2027, negativity will impact FCF.
TRGP’s Market Performance
TRGP’s stock has risen by 3.74% in the past week, with a monthly rise of 19.23% and a quarterly rise of 35.13%. The volatility ratio for the week is 2.12% while the volatility levels for the last 30 days are 2.44% for Targa Resources Corp. The simple moving average for the past 20 days is 11.08% for TRGP’s stock, with a 49.40% simple moving average for the past 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 19.37% 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 -2.10% of loss for the given period.
Volatility was left at 2.44%, however, over the last 30 days, the volatility rate increased by 2.12%, as shares surge +18.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +31.16% upper at present.
During the last 5 trading sessions, TRGP rose by +3.74%, which changed the moving average for the period of 200-days by +121.74% in comparison to the 20-day moving average, which settled at $173.74. In addition, Targa Resources Corp saw 122.17% 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 3,260 shares at the price of $190.74 back on Nov 08 ’24. After this action, Boushka Julie H. now owns 35,143 shares of Targa Resources Corp, valued at $621,809 using the latest closing price.
CRISP CHARLES R, the Director of Targa Resources Corp, sale 6,000 shares at $190.68 during a trade that took place back on Nov 08 ’24, which means that CRISP CHARLES R is holding 82,471 shares at $1,144,080 based on the most recent closing price.
Stock Fundamentals for TRGP
Current profitability levels for the company are sitting at:
- 0.17 for the present operating margin
- 0.19 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 48.48, with 5.85 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 0.23. The debt to equity ratio resting at 5.45. The interest coverage ratio of the stock is 3.48.
Currently, EBITDA for the company is 3.96 billion with net debt to EBITDA at 3.51. When we switch over and look at the enterprise to sales, we see a ratio of 3.45. The receivables turnover for the company is 12.53for trailing twelve months and the total asset turnover is 0.74. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.77.
Conclusion
To wrap up, the performance of Targa Resources Corp (TRGP) has been better in recent times. The stock has received a mixed of “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.
