Targa Resources Corp. (NYSE:TRGP) shares traded -0.54% lower at $81.17 on Wall Street last session.
In accordance with the data, 19 analysts cover Targa Resources Corp. (NYSE:TRGP). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $117.00 and a low of $89.00, we find $98.50. Given the previous closing price of $81.61, this indicates a potential upside of 20.7 percent. TRGP stock price is now 8.83% away from the 50-day moving average and 11.10% away from the 200-day moving average. The market capitalization of the company currently stands at $18.33B.
It has been rated a hold by 0 analysts and a buy by 17. Brokers who have rated the stock have averaged $99.83 as their price target over the next twelve months.
With the price target of $115, Scotiabank recently initiated with Sector Outperform rating for Targa Resources Corp. (NYSE: TRGP).
In other news, Boushka Julie H., Senior VP and CAO sold 2,184 shares of the company’s stock on Jul 21. The stock was sold for $174,720 at an average price of $80.00. Upon completion of the transaction, the Senior VP and CAO now directly owns 64,596 shares in the company, valued at $5.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, Pryor D. Scott sold 20,000 shares of the business’s stock. A total of $1,522,276 was realized by selling the stock at an average price of $76.11. This leaves the insider owning 116,533 shares of the company worth $9.46 million. Insiders disposed of 993,019 shares of company stock worth roughly $80.6 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TRGP stock. A new stake in Targa Resources Corp. shares was purchased by TWINBEECH CAPITAL LP during the first quarter worth $21,110,000. WEXFORD CAPITAL LP invested $12,920,000 in shares of TRGP during the first quarter. In the first quarter, BAHL & GAYNOR INC acquired a new stake in Targa Resources Corp. valued at approximately $6,702,000. BURNEY CO/ acquired a new stake in TRGP for approximately $4,639,000. TREXQUANT INVESTMENT LP purchased a new stake in TRGP valued at around $4,014,000 in the second quarter.
Targa Resources Corp. (NYSE: TRGP) opened at $80.88 on Wednesday. During the past 12 months, Targa Resources Corp. has had a low of $57.23 and a high of $81.99. As of last week, the company has a debt-to-equity ratio of 4.77, a current ratio of 0.70, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $30.44B, which is based on a 21.04 price-to-earnings ratio, a 0.65 price-to-earnings-growth ratio, and a beta of 2.27. The fifty day moving average price for TRGP is $74.80 and a two-hundred day moving average price translates $73.13 for the stock.
The net profit margin was 4.30% and return on equity was 36.80% for TRGP. The company reported revenue of $4.52 billion for the quarter, compared to $4.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -8.84 percent.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 07/31/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 2.46% percent yield. There was an ex-dividend date of 07/28/2023 for this dividend. In terms of dividend payout ratio, TRGP is presently at 35.70%.
