Why Targa Resources, Inc. (NYSE:TRGP) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $43.38 on Targa Resources, Inc. (NYSE:TRGP) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $-0.03 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Targa Resources, Inc. (NYSE:TRGP) stands at 58.12. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Targa Resources, Inc. Common St, the PEG ratio for coming 3-5 years is -244.58. Technical Analysis The technical analysis highlights that Targa Resources, Inc. Common St current price is trading $-1.09 points away -2.59% from $42.18, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $30.94 and, for now, the stock price is trading $10.15 or +32.82% away from that point. The 52-week high of Targa Resources, Inc. (NYSE:TRGP) was $92.13 while lowest point recorded in 52-week was $14.55. It implies if stock price makes a movement of over $-51.04, it will record a new 52-week high. In the case of $+182.41% points drop, it will touch a new 52-week low.

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