Targa Resources Corp (NYSE: TRGP) is 90.25% higher on its value in year-to-date trading and has touched a low of $81.03 and a high of $169.92 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 $166.96 in the last trading session, with the day’s loss setting it -1.69%.
Currently trading at $165.27, the stock is 0.80% and 6.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.24 million and changing -1.01% at the moment leaves the stock 32.10% off its SMA200. TRGP registered 96.40% gain for a year compared to 6-month gain of 47.16%. The firm has a 50-day simple moving average (SMA 50) of $155.1684 and a 200-day simple moving average (SMA200) of $125.11015.
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The stock witnessed a 6.28% loss in the last 1 month and extending the period to 3 months gives it a 29.26%, and is -0.42% 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 1.79% over the week and 2.17% over the month.
Targa Resources Corp (TRGP) has around 3182 employees, a market worth around $35.84B and $16.33B in sales. Current P/E ratio is 34.65 and Fwd P/E is 22.28. Profit margin for the company is 6.52%. Distance from 52-week low is 103.96% and -2.74% from its 52-week high. The company has generated returns on investments over the last 12 months (6.86%).
with sales reaching $4.06B over the same period.The EPS is expected to grow by 52.59% this year, but quarterly earnings will post 12.60% year-over-year. Quarterly sales are estimated to shrink -11.60% in year-over-year returns.
Targa Resources Corp (TRGP) Top Institutional Holders
1079.0 institutions hold shares in Targa Resources Corp (TRGP), with institutional investors hold 94.05% of the company’s shares. The shares outstanding are 222.61M, and float is at 215.40M with Short Float at 1.57%. Institutions hold 92.69% 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 Perkins Joe Bob, the company’s Director. SEC filings show that Perkins Joe Bob sold 150,000 shares of the company’s common stock on Sep 24 ’24 at a price of $155.53 per share for a total of $23.33 million. Following the sale, the insider now owns 0.11 million shares.
Targa Resources Corp disclosed in a document filed with the SEC on Sep 03 ’24 that Muraro Robert (Chief Commercial Officer) sold a total of 2,500 shares of the company’s common stock. The trade occurred on Sep 03 ’24 and was made at $146.20 per share for $0.37 million. Following the transaction, the insider now directly holds 0.17 million shares of the TRGP stock.
Still, SEC filings show that on Aug 15 ’24, Davis Waters S IV (Director) disposed off 3,597 shares at an average price of $142.43 for $0.51 million. The insider now directly holds 5,878 shares of Targa Resources Corp (TRGP).
