Targa Resources Corp (NYSE: TRGP) is 68.40% higher on its value in year-to-date trading and has touched a low of $77.97 and a high of $147.08 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 $144.29 in the last trading session, with the day’s gains setting it 2.0%.
Currently trading at $146.29, the stock is 5.18% and 8.50% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.88 million and changing 1.39% at the moment leaves the stock 34.21% off its SMA200. TRGP registered 70.70% gain for a year compared to 6-month gain of 48.91%.
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The stock witnessed a 8.14% loss in the last 1 month and extending the period to 3 months gives it a 25.48%, and is 2.41% 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 2.24% over the month.
Targa Resources Corp (TRGP) has around 3182 employees, a market worth around $32.05B and $16.33B in sales. Current P/E ratio is 30.67 and Fwd P/E is 20.16. Profit margin for the company is 6.52%. Distance from 52-week low is 87.62% and -0.54% from its 52-week high. The company has generated returns on investments over the last 12 months (6.86%).
The EPS is expected to grow by 51.25% this year
1045.0 institutions hold shares in Targa Resources Corp (TRGP), with institutional investors hold 93.81% of the company’s shares. The shares outstanding are 222.61M, and float is at 215.29M with Short Float at 1.53%. Institutions hold 92.45% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 26.9 million shares valued at $3.46 billion. The investor’s holdings represent 12.0717 of the TRGP Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 20.64 million shares valued at $2.66 billion to account for 9.2639 of the shares outstanding. The other top investors are STATE STREET CORP which holds 14.64 million shares representing 6.5726 and valued at over $1.89 billion, while WELLINGTON MANAGEMENT GROUP LLP holds 6.496 of the shares totaling 14.47 million with a market value of $1.86 billion.
Targa Resources Corp (TRGP) Insider Activity
The most recent transaction is an insider sale by Davis Waters S IV, the company’s Director. SEC filings show that Davis Waters S IV sold 3,597 shares of the company’s common stock on Aug 15 ’24 at a price of $142.43 per share for a total of $0.51 million. Following the sale, the insider now owns 5878.0 shares.
Targa Resources Corp disclosed in a document filed with the SEC on Aug 14 ’24 that Perkins Joe Bob (Director) sold a total of 21,000 shares of the company’s common stock. The trade occurred on Aug 14 ’24 and was made at $139.11 per share for $2.92 million. Following the transaction, the insider now directly holds 7622.0 shares of the TRGP stock.
Still, SEC filings show that on Aug 14 ’24, Perkins Joe Bob (Director) disposed off 18,000 shares at an average price of $139.27 for $2.51 million. The insider now directly holds 20,440 shares of Targa Resources Corp (TRGP).
