TRGP Stock Summary and Trading Ideas (Targa Resources | NYSE:TRGP)

Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset.

Targa Resources trades on the NYSE stock market under the symbol TRGP.

As of April 24, 2024, TRGP stock price climbed to $116.90 with 1,190,014 million shares trading.

TRGP has a beta of 0.58, meaning it tends to be less sensitive to market movements. TRGP has a correlation of 0.09 to the broad based SPY ETF.

TRGP has a market cap of $26.01 billion. This is considered a Large Cap stock.

Last quarter Targa Resources reported $4 billion in Revenue and $1.23 earnings per share. This beat revenue expectation by $389 million and missed earnings estimates by -$.23.

In the last 3 years, TRGP stock traded as high as $117.61 and as low as $33.59.

The top ETF exchange traded funds that TRGP belongs to (by Net Assets): VTI, VB, VOO, XLE, VBK.

TRGP has outperformed the market in the last year with a price return of +57.3% while the SPY ETF gained +24.2%. TRGP has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +41.1% and +2.2%, respectively, while the SPY returned +4.6% and -2.7%, respectively.

TRGP support price is $114.46 and resistance is $117.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TRGP stock will trade within this expected range on the day.