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Tuesday, September 26, 2023

It’s Not Over Yet For Targa Resources Corp. (NYSE: TRGP)

After Hours

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. After-hours trades for Targa Resources Corp. (TRGP) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.44, or 0.51%, to $86.69. The Targa Resources Corp. has recorded 215,648 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Targa Resources Corp. to Participate in Investor Conferences.

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Stocks Info

Targa Resources Corp. is listed on the NYSE as a member of the Energy sector and is a part of the Oil & Gas Midstream industry. At the end of the last regular session, the stock closed at $86.25 and fluctuated between $87.26 as its day high and $85.88 as its day low. The current market capitalization of Targa Resources Corp. is $19.21B. A total of 1.89 million shares were traded on the day, compared to an average of 1.56M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, TRGP has seen 0 BUY and 9 SELL insider trades, representing the acquisition of 0 and the disposition of 31,988 shares. Over the last 12 months, there were 31 BUYs and 77 SELLs from insiders. Insiders purchased 1,017,269 shares during that period but sold 1,018,513.

In the most recent transaction, White G Clark sold 2,577 shares of TRGP for 84.72 per share on Aug 11. After the transaction, the EVP – Operations now owns 122,865 company shares. In a previous transaction on Aug 10, Pryor D. Scott sold 11,901 shares at 84.43 per share. TRGP shares that owns now total 104,632.

Among the insiders who sold shares, Gregory Regina disposed of 1,819 shares on Aug 10 at a per-share price of $84.58. This resulted in the insider holding 47,304 shares of TRGP after the transaction. In another insider transaction, Chung Paul W sold 5,500 shares at $83.93 per share on Aug 09. Company shares held by the Director now total 200,500.


It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Targa Resources Corp. pays an annual dividend of $2.00, resulting in a dividend yield of 2.32%, and it has a price to earnings (P/E) ratio of 23.30. TRGP’s most recent ex-dividend date was 7/28/2023 when it declared a $0.50 quarterly dividend that was paid in cash on 8/15/2023. Previously, the company paid the dividend on 5/15/2023 with an ex-dividend date of 4/27/2023. The TRGP stock dividend was $0.50 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for TRGP in the last 3 months, the mean price target is $102.44 with high estimates of $117.00 and low estimates of $89.00. In terms of 52-week highs and lows, TRGP has a high of $86.73 and a low of $57.23.

As of this writing, TRGP has an earnings estimate of $1.29 per share for the current quarter. EPS was calculated based on a consensus of 12 estimates, with a high estimate of $1.64 per share and a lower estimate of $1.06. The company reported an EPS of $0.03 in the last quarter, which was -97.90% lower than expectations of $1.4.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information. 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 $11.86, while its Total Shareholder’s Equity was $5.93B.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. 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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