In last trading session, Targa Resources Corp. (NYSE:TRGP) saw 3.53 million shares changing hands with its beta currently measuring 3.00. Company’s recent per share price level of $44.18 trading at -$1.18 or -2.60% at ring of the bell on the day assigns it a market valuation of $10.02B. That closing price of TRGP’s stock is at a discount of -11.36% from its 52-week high price of $49.20 and is indicating a premium of 70.39% from its 52-week low price of $13.08. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 8.0 million shares which gives us an average trading volume of 2.67 million if we extend that period to 3-months.
For Targa Resources Corp. (TRGP), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 23 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 18 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.24 in the current quarter.
Targa Resources Corp. (NYSE:TRGP) trade information
Upright in the red during last session for losing -2.60%, in the last five days TRGP remained trading in the red while hitting it’s week-highest on Thursday, 06/17/21 when the stock touched $44.18 price level, adding 10.2% to its value on the day. Targa Resources Corp.’s shares saw a change of 67.48% in year-to-date performance and have moved -5.86% in past 5-day. Targa Resources Corp. (NYSE:TRGP) showed a performance of 15.90% in past 30-days. Number of shares sold short was 2.91 million shares which calculate 1.77 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $47.33 to the stock, which implies a rise of 6.66% to its current value. Analysts have been projecting $36.00 as a low price target for the stock while placing it at a high target of $57.00. It follows that stock’s current price would drop -29.02% in reaching the projected high whereas dropping to the targeted low would mean a gain of 18.52% for stock’s current value.
Targa Resources Corp. (TRGP) estimates and forecasts
Statistics highlight that Targa Resources Corp. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 56.22% of value to its shares in past 6 months, showing an annual growth rate of 117.22% while that of industry is 1.60. Apart from that, the company came raising its revenue forecast for fiscal year 2021. The company is estimating its revenue growth to increase by 14.30% in the current quarter and calculating 100.00% increase in the next quarter. This year revenue growth is estimated to rise 47.00% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.75 billion for the same. And 6 analysts are in estimates of company making revenue of $2.86 billion in the next quarter that will end on Sep 2021. Company posted $1.52 billion and $2.12 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 80.60% while estimating it to be 35.20% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -54.00% during past 5 years. In 2021, company’s earnings growth rate is likely to be around -405.10% while estimates for its earnings growth in next 5 years are of 5.70%.
Targa Resources Corp. is more likely to be releasing its next quarterly report in July and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 0.91%, the share has a forward dividend of 0.40 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 9.04%.
Targa Resources Corp. (NYSE:TRGP)’s Major holders
Insiders are in possession of 1.69% of company’s total shares while institution are holding 85.28 percent of that, with stock having share float percentage of 86.74%. Investors also watch the number of corporate investors in a company very closely, which is 85.28% institutions for Targa Resources Corp. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at TRGP for having 23.26 million shares of worth $613.72 million. And as of Dec 30, 2020, it was holding 10.17% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 11.16 million shares on Dec 30, 2020. The number of shares represents firm’s hold over 4.88% of outstanding shares, having a total worth of $294.33 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2020, the former fund manager was holding 6.42 million shares of worth $169.36 million or 2.81% of the total outstanding shares. The later fund manager was in possession of 5.43 million shares on Dec 30, 2020, making its stake of worth around $143.15 million in the company or a holder of 2.37% of company’s stock.