458 institutions hold shares in Targa Resources Corp. (TRGP), with 3.43M shares held by insiders accounting for 1.50% while institutional investors hold 87.32% of the company’s shares. The shares outstanding are 229.20M, and float is at 225.30M with Short Float at 1.65%. Institutions hold 86.01% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 23.26 million shares valued at $613.72 million. The investor’s holdings represent 10.17% of the TRGP Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 11.16 million shares valued at $294.33 million to account for 4.88% of the shares outstanding. The other top investors are Blackstone Group Inc. which holds 11.13 million shares representing 4.87% and valued at over $293.64 million, while Tortoise Capital Advisors, LLC holds 4.14% of the shares totaling 9.46 million with a market value of $249.42 million.
Targa Resources Corp. (NYSE: TRGP) is 23.01% higher on its value in year-to-date trading and has touched a low of $5.25 and a high of $35.27 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TRGP stock was last observed hovering at around $31.85 in the last trading session, with the day’s gains setting it 0.6% off its average median price target of $37.50 for the next 12 months. It is also 33.78% off the consensus price target high of $49.00 offered by 22 analysts, but current levels are -1.41% lower than the price target low of $32.00 for the same period.
Currently trading at $32.45, the stock is -1.31% and 4.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.37 million and changing 1.88% at the moment leaves the stock 42.64% off its SMA200. TRGP registered 324.18% gain for a year compared to 6-month gain of 132.45%. The firm has a 50-day simple moving average (SMA 50) of $32.10 and a 200-day simple moving average (SMA200) of $24.62.
The stock witnessed a 1.72% loss in the last 1 month and extending the period to 3 months gives it a 20.86%, and is 0.00% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.08% over the week and 3.95% over the month.
Targa Resources Corp. (TRGP) has around 2372 employees, a market worth around $7.28B and $8.26B in sales. Fwd P/E is 20.26. Profit margin for the company is -20.40%. Distance from 52-week low is 518.10% and -8.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.70%).
Targa Resources Corp. (TRGP) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Targa Resources Corp. (TRGP) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 1.90, where 5 rate it as a Hold and 1 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Targa Resources Corp. is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at $0.19 with sales reaching $2.39B over the same period.The EPS is expected to shrink by -405.10% this year, but quarterly earnings will post 23.90% year-over-year. Quarterly sales are estimated to grow 16.40% in year-over-year returns.
Targa Resources Corp. (TRGP) Insider Activity
A total of 76 insider transactions have happened at Targa Resources Corp. (TRGP) in the last six months, with sales accounting for 44 and purchases happening 32 times. The most recent transaction is an insider sale by WHALEN JAMES W, the company’s Director. SEC filings show that WHALEN JAMES W sold 30,000 shares of the company’s common stock on Mar 08 at a price of $35.00 per share for a total of $1.05 million. Following the sale, the insider now owns 0.18 million shares.
Targa Resources Corp. disclosed in a document filed with the SEC on Mar 08 that WHALEN JAMES W (Director) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Mar 08 and was made at $35.00 per share for $0.35 million. Following the transaction, the insider now directly holds 0.17 million shares of the TRGP stock.
Still, SEC filings show that on Feb 24, WHALEN JAMES W (Director) disposed off 22,500 shares at an average price of $32.50 for $0.73 million. The insider now directly holds 191,799 shares of Targa Resources Corp. (TRGP).
Targa Resources Corp. (TRGP): Who are the competitors?
The company’s main competitors (and peers) include Eni S.p.A. (E) that is trading 26.18% up over the past 12 months and Exxon Mobil Corporation (XOM) that is 48.66% higher over the same period. Enterprise Products Partners L.P. (EPD) is 52.72% up on the 1-year trading charts. Short interest in the company’s stock has risen 28.69% from the last report on Feb 11, 2021 to stand at a total of 2.66 million short shares sold with a short interest ratio of 2.