68.3 F
New York
Wednesday, September 30, 2020

Targa Resources Corp. (NYSE:TRGP) on the Path to Ruin

Must read

Infrastructure and Energy Alternatives Inc. (NASDAQ:IEA) Finding Strong Support

Infrastructure and Energy Alternatives Inc. (IEA) shares are trading at higher $6.26 and the avg recommendation for the stock is Moderate Buy, while the...

Pan American Silver Corp. (NASDAQ:PAAS) on the Path to Profitability

Pan American Silver Corp. (PAAS) shares are trading at higher $32.36 and the avg recommendation for the stock is Moderate Buy, while the current...

The Unprecedented Rise of BHP Group (NYSE:BHP)

BHP Group (BHP) shares are trading at lower $51.60 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Investor Confidence is Falling for Aramark (NYSE:ARMK)

Aramark (ARMK) shares are trading at lower $26.42 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target...

The Targa Resources Corp. (TRGP) shares are trading at lower $19.05 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $21.55.

To add more color to this target, the company’s high over the last year is $43.47 and the low is $3.66. Over the last 52 weeks, TRGP is down -56.17% while the S&P 500 is down -1.19%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, TRGP reported a profit of $-2.08 billion. Targa Resources Corp. also saw revenues decrease to $2.05 billion. In addition, TRGP has free cash flow of $110.9 million as of 03-2020. The company’s EBITDA came in at -$1.84 billion which compares well with its peers.

TRGP booked profit margins of -24.20%, its Return on Equity (ROE) is -43.30%, and its Return on Assets is -11.30%. All told, it is clear that, TRGP needs to be on your watchlist.

Find out when TRGP reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. TRGP has a short ratio of 1.02 and outstanding shares of 233.00M.

Company Outlook

TRGP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.44 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -8.73. Targa Resources Corp. TRGP also noted assets of $16.03 billion at the end of the last quarter. Investors should also keep an eye on sector updates as TRGP has historically followed its peers on positive news.

All told, Targa Resources Corp. TRGP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, TRGP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Targa Resources Corp. TRGP is now commanding a market cap of 4.57B and a float of 229.16M. TRGP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of TRGP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in TRGP, either long or short, and we have not been compensated for this article.

Latest article

Zscaler Inc. (NASDAQ:ZS) Stock is Soaring, Here is Why

Zscaler Inc. (ZS) shares are trading at higher $140.49 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

Discovery Inc. (NASDAQ:DISCK) is Holding Steady

Discovery Inc. (DISCK) shares are trading at lower $19.47 and the avg recommendation for the stock is Hold, while the current analyst price target...

Investor Confidence is Falling for Duke Energy Corporation (NYSE:DUK)

Duke Energy Corporation (DUK) shares are trading at lower $82.41 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Sysco Corporation (NYSE:SYY) is Gaining Momentum on Earnings Catalyst

Sysco Corporation (SYY) shares are trading at lower $61.17 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

The Rejuvenation of Darling Ingredients Inc. (NYSE:DAR)

Darling Ingredients Inc. (DAR) shares are trading at higher $35.43 and the avg recommendation for the stock is Moderate Buy, while the current analyst...