Just the Facts on Targa Resources Corp. (TRGP)

Targa Resources Corp. (TRGP) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Pipelines. The stock has been active on the tape, currently trading at $47.92, down from yesterday’s close by -1.98%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Targa Resources Corp. (TRGP) currently trades with a market capitalization of $10.33 Billion. That value represents a market adjusting for revenues that have been growing by 29.02 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of -$195.1 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.01 on a per share basis this quarter. Perhaps, that suggests something about why 1.19% of the outstanding share supply is held by institutional investors.



Technical Analysis

As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock’s prospects going forward. Looking at the stock’s movement on the chart, Targa Resources Corp. recorded a 52-week high of $61.83. It is now trading 13.91% off that level. The stock is trading $46.96 its 50-day moving average by -0.96%. The stock carved out a 52-week low down at $39.59.

In recent action, Targa Resources Corp. (TRGP) has made a move of -1.03% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 25.22, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 4.58% with $211.46 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of TRGP.

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