A correction may be in store for Targa Resources Corp. (NYSE:TRGP) shares?

In the latest session, Targa Resources Corp. (NYSE: TRGP) closed at 65.45 down -2.15% from its previous closing price of $66.89. In other words, the price has decreased by $-1.44 from its previous closing price. On the day, 1268092 shares were traded. TRGP reached its highest trading level at $67.82 during the session, while it also had its lowest trading level at $65.29.

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For a deeper understanding of Targa Resources Corp.’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 101.06 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 10.39. For the most recent quarter (mrq), Quick Ratio is recorded 0.60 and its Current Ratio is at 0.70. In the meantime, Its Debt-to-Equity ratio is 3.61 whereas as Long-Term Debt/Eq ratio is at 3.41.

Upgrades & Downgrades

Mizuho Upgraded its Neutral to Buy on March 18, 2022, whereas the target price for the stock was revised from $58 to $85.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Sep 06 when Muraro Robert sold 5,000 shares for $69.56 per share. The transaction valued at 347,795 led to the insider holds 181,947 shares of the business.

Gregory Regina sold 6,494 shares of TRGP for $437,640 on Aug 10. The now owns 55,592 shares after completing the transaction at $67.39 per share. On May 18, another insider, Pryor D. Scott, who serves as the of the company, sold 20,000 shares for $71.33 each. As a result, the insider received 1,426,586 and left with 81,233 shares of the company.

Valuation Measures:

As of this moment, Targa’s Price-to-Earnings (P/E) ratio for their current fiscal year is 84.13, and their Forward P/E ratio for the next fiscal year is 11.63. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.88. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.74 while its Price-to-Book (P/B) ratio in mrq is 7.20.

Stock Price History:

Over the past 52 weeks, TRGP has reached a high of $81.50, while it has fallen to a 52-week low of $45.37. The 50-Day Moving Average of the stock is 67.47, while the 200-Day Moving Average is calculated to be 65.70.

Shares Statistics:

For the past three months, TRGP has traded an average of 1.65M shares per day and 1.81M over the past ten days. A total of 227.80M shares are outstanding, with a floating share count of 223.04M. Insiders hold about 0.50% of the company’s shares, while institutions hold 89.50% stake in the company. Shares short for TRGP as of Jul 14, 2022 were 4.08M with a Short Ratio of 2.24, compared to 4.21M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.79% and a Short% of Float of 2.02%.

Dividends & Splits

According to the company, the forward annual dividend rate for TRGP is 1.40, from 0.40 in the trailing year. Against a Trailing Annual Dividend Yield of 0.60%, it implies a Forward Annual Dividend Yield of 2.08%. The stock’s 5-year Average Dividend Yield is 7.51.

Earnings Estimates

There are 11 different market analysts currently analyzing its stock. On average, analysts expect EPS of $1.07 for the current quarter, with a high estimate of $1.34 and a low estimate of $0.57, while EPS last year was $0.15. The consensus estimate for the next quarter is $1.2, with high estimates of $1.42 and low estimates of $0.68.

Analysts are recommending an EPS of between $4.94 and $2 for the fiscal current year, implying an average EPS of $3.77. EPS for the following year is $5.27, with 14 analysts recommending between $7.39 and $3.65.

Revenue Estimates

A total of 5 analysts believe the company’s revenue will be $5.87B this quarter.It ranges from a high estimate of $8.01B to a low estimate of $4.98B. As of the current estimate, Targa Resources Corp.’s year-ago sales were $3.42B, an estimated increase of 71.80% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $6.01B, an increase of 34.70% less than the figure of $71.80% in the same quarter last year. There is a high estimate of $8.92B for the next quarter, whereas the lowest estimate is $4.65B.

A total of 7 analysts have provided revenue estimates for TRGP’s current fiscal year. The highest revenue estimate was $31.24B, while the lowest revenue estimate was $19.9B, resulting in an average revenue estimate of $24.77B. In the same quarter a year ago, actual revenue was $16.95B, up 46.10% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $25.93B in the next fiscal year. The high estimate is $34.37B and the low estimate is $18.81B. The average revenue growth estimate for next year is up 4.70% from the average revenue estimate for this year.