Targa Resources Corp (NYSE: TRGP) is 27.79% higher on its value in year-to-date trading and has touched a low of $64.85 and a high of $109.45 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 $109.08 in the last trading session, with the day’s gains setting it 1.93%.
Currently trading at $111.01, the stock is 8.03% and 19.21% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.99 million and changing 1.77% at the moment leaves the stock 29.95% off its SMA200. TRGP registered 56.46% gain for a year compared to 6-month gain of 29.94%. The firm has a 50-day simple moving average (SMA 50) of $2.34 and a 200-day simple moving average (SMA200) of $9.51.
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The stock witnessed a 13.89% loss in the last 1 month and extending the period to 3 months gives it a 28.68%, and is 5.08% up 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 1.54% over the week and 1.62% over the month.
Targa Resources Corp (TRGP) has around 3182 employees, a market worth around $24.77B and $15.62B in sales. Current P/E ratio is 30.18 and Fwd P/E is 16.33. Profit margin for the company is 5.30%. Distance from 52-week low is 71.18% and 1.43% from its 52-week high. The company has generated returns on investments over the last 12 months (5.47%).
Targa Resources Corp quarterly earnings per share for the current quarter are estimated at $1.31 with sales reaching $4.29B over the same period.The EPS is expected to grow by 50.83% this year, but quarterly earnings will post 26.30% year-over-year. Quarterly sales are estimated to shrink -5.10% in year-over-year returns.
937 institutions hold shares in Targa Resources Corp (TRGP), with institutional investors hold 95.07% of the company’s shares. The shares outstanding are 222.61M, and float is at 218.73M with Short Float at 1.83%. Institutions hold 93.76% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 27.15 million shares valued at $2.07 billion. The investor’s holdings represent 12.14% of the TRGP Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 18.81 million shares valued at $1.43 billion to account for 8.41% of the shares outstanding. The other top investors are State Street Corporation which holds 14.78 million shares representing 6.61% and valued at over $1.12 billion, while Wellington Management Group, LLP holds 3.54% of the shares totaling 7.92 million with a market value of $602.55 million.
Targa Resources Corp (TRGP) Insider Activity
The most recent transaction is an insider sale by Boushka Julie H., the company’s Senior VP and CAO. SEC filings show that Boushka Julie H. sold 10,000 shares of the company’s common stock on Mar 05 ’24 at a price of $100.96 per share for a total of $1.01 million. Following the sale, the insider now owns 59919.0 shares.
Targa Resources Corp disclosed in a document filed with the SEC on Feb 26 ’24 that Pryor D. Scott () sold a total of 10,000 shares of the company’s common stock. The trade occurred on Feb 26 ’24 and was made at $97.00 per share for $0.97 million. Following the transaction, the insider now directly holds 0.16 million shares of the TRGP stock.
Still, SEC filings show that on Feb 23 ’24, Muraro Robert (Chief Commercial Officer) disposed off 10,000 shares at an average price of $97.31 for $0.97 million. The insider now directly holds 219,451 shares of Targa Resources Corp (TRGP).
