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Friday, September 29, 2023

Make Sure You Stick With Targa Resources Corp. (TRGP). It’s Bull Time Again

After Hours

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. After-hours trades for Targa Resources Corp. (TRGP) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.58, or -0.68%, to $84.45. The Targa Resources Corp. has recorded 101,925 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed Targa Resources Corp. to Participate in Investor Conferences.

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Stocks Info

Targa Resources Corp. is listed on the NYSE in the Energy sector while operating in the Oil & Gas Midstream industry. At the end of the last regular session, the stock closed at $85.03 and fluctuated between $86.56 as its day high and $84.45 as its day low. The current market capitalization of Targa Resources Corp. is $18.74B. A total of 1.66 million shares were traded on the day, compared to an average of 1.53M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. 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 76 SELLs from insiders. Insiders purchased 1,017,269 shares during that period but sold 1,013,513.

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.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. Targa Resources Corp. pays an annual dividend of $2.00, resulting in a dividend yield of 2.35%, and it has a price to earnings (P/E) ratio of 22.97. 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.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. 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 $87.86 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

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future 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

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in 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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