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Monday, June 5, 2023

Searching For Real Value In Market Debris At Targa Resources Corp. (NYSE: TRGP)

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for Targa Resources Corp. (TRGP) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.20, or 0.29%, to $69.61. The Targa Resources Corp. has recorded 84,538 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Targa Resources Corp. to Participate in Investor Conferences.

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Stocks Info

As a NYSE listed company, TRGP falls under the Energy sector while operating within the Oil & Gas Midstream industry segment. At the end of the last regular session, the stock closed at $69.41 and fluctuated between $70.51 as its day high and $68.97 as its day low. The current market capitalization of Targa Resources Corp. is $15.56B. A total of 1.12 million shares were traded on the day, compared to an average of 1.66M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, TRGP has seen 0 BUY and 14 SELL insider trades, representing the acquisition of 0 and the disposition of 168,680 shares. Over the last 12 months, there were 29 BUYs and 68 SELLs from insiders. Insiders purchased 927,356 shares during that period but sold 905,802.

In the most recent transaction, Pryor D. Scott sold 20,000 shares of TRGP for 76.11 per share on Mar 02. After the transaction, the See Remarks now owns 116,533 company shares. In a previous transaction on Mar 01, Chung Paul W sold 18,246 shares at 75.43 per share. TRGP shares that Director owns now total 61,900.

Among the insiders who sold shares, Chung Paul W disposed of 7,191 shares on Feb 28 at a per-share price of $75.50. This resulted in the Director holding 80,146 shares of TRGP after the transaction. In another insider transaction, Gregory Regina sold 32,163 shares at $75.29 per share on Feb 27. Company shares held by the See Remarks now total 50,304.


Investors prefer companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook. Targa Resources Corp. pays an annual dividend of $2.00, resulting in a dividend yield of 2.88%, and it has a price to earnings (P/E) ratio of 18.00. TRGP’s most recent ex-dividend date was 4/27/2023 when it declared a $0.50 quarterly dividend that was paid in cash on 5/15/2023. Previously, the company paid the dividend on 2/15/2023 with an ex-dividend date of 1/30/2023. The TRGP stock dividend was $0.35 per share in cash.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for TRGP in the last 3 months, the mean price target is $99.61 with high estimates of $119.00 and low estimates of $90.00. In terms of 52-week highs and lows, TRGP has a high of $80.40 and a low of $55.56.

As of this writing, TRGP has an earnings estimate of $1.34 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of $1.73 per share and a lower estimate of $1.06.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. TRGP’s latest balance sheet shows that the firm has $158.50M in Cash & Short Term Investments as of fiscal 2021. There were $6.63B in debt and $2.30B in liabilities at the time. Its Book Value Per Share was $11.27, while its Total Shareholder’s Equity was $5.93B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for TRGP is Buy with a score of 4.94.

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