Boom Or Bust: Where Does Targa Resources Corp. (NYSE: TRGP) Stock Go From Here? – Marketing Sentinel
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Boom Or Bust: Where Does Targa Resources Corp. (NYSE: TRGP) Stock Go From Here?

During the recent session, Targa Resources Corp. (NYSE:TRGP)’s traded shares were 0.87 million, with the beta value of the company hitting 2.50. At the last check today, the stock’s price was $71.27, reflecting an intraday gain of 4.30% or $2.94. The 52-week high for the TRGP share is $81.50, that puts it down -14.35 from that peak though still a striking 48.76% gain since the share price plummeted to a 52-week low of $36.52. The company’s market capitalization is $15.44B, and the average trade volume was 1.80 million shares over the past three months.

Targa Resources Corp. (TRGP) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.70. TRGP has a Sell rating from 0 analyst(s) out of 22 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 19 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.9.

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Targa Resources Corp. (NYSE:TRGP) trade information

Targa Resources Corp. (TRGP) registered a 4.30% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.30% in intraday trading to $71.27 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -8.53%, and it has moved by -11.20% in 30 days. Based on these gigs, the overall price performance for the year is 82.31%.

The consensus price target of analysts on Wall Street is $89.25, which implies an increase of 20.15% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $76.00 and $107.00 respectively. As a result, TRGP is trading at a discount of -50.13% off the target high and -6.64% off the low.

Targa Resources Corp. (TRGP) estimates and forecasts

Statistics show that Targa Resources Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Targa Resources Corp. (TRGP) shares have gone up 24.62% during the last six months, with a year-to-date growth rate more than the industry average at 101.06% against 46.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 500.00% this quarter and then jump 54.50% in the quarter after that. In the rating firms’ projections, revenue will increase 16.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $4.77 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $4.67 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.42 billion and $4.46 billion respectively. In this case, analysts expect current quarter sales to grow by 39.50% and then jump by 4.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 47.70%. While earnings are projected to return 99.00% in 2022, the next five years will return 5.70% per annum.

TRGP Dividends

Targa Resources Corp. is due to release its next quarterly earnings between August 03 and August 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Targa Resources Corp. is 1.40, with the dividend yield indicating at 2.05 percent, continuing the trend of increasing dividends in recent years.

Targa Resources Corp. (NYSE:TRGP)’s Major holders

Targa Resources Corp. insiders own 1.58% of total outstanding shares while institutional holders control 88.97%, with the float percentage being 90.39%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 662 institutions own stock in it. As of Dec 30, 2021, the company held over 23.79 million shares (or 10.41% of all shares), a total value of $1.24 billion in shares.

The next largest institutional holding, with 23.79 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.41% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $1.24 billion.

Also, the Mutual Funds coming in first place with the largest holdings of Targa Resources Corp. (TRGP) shares are Vanguard Total Stock Market Index Fund and Vanguard Total Stock Market Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 6.51 million shares. This amounts to just over 2.85 percent of the company’s overall shares, with a $339.93 million market value. The same data shows that the other fund manager holds slightly less at 6.51 million, or about 2.85% of the stock, which is worth about $339.93 million.

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