Targa Resources Corp.’s Stock Price Slumps to $146.31, Experiencing a 5.94% Decrease

Targa Resources Corp. (TRGP)

146.31 USD -9.24 (-5.94%) Volume: 2.08M

Discover Targa Resources Corp.’s stock price performance: currently trading at 146.31 USD, a drop of 5.94% this session, with a trading volume of 2.08M. Despite today’s dip, TRGP shows strong growth with a YTD increase of 68.42%.

Latest developments on Targa Resources Corp.

Targa Resources Corp. (TRGP) has been making headlines recently as Sei Investments Co. has increased their position in the company’s stock on the NYSE. This move by Sei Investments Co. indicates growing confidence in Targa Resources as a strong addition to infrastructure stock portfolios. Investors are likely taking note of this development, leading to potential positive movements in Targa Resources‘ stock price today. As the company continues to attract attention from key players in the market, it may be worth keeping an eye on TRGP for potential investment opportunities.

Targa Resources Corp. on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on Targa Resources Corporation. In their research reports, they highlighted the strong performance of Targa in the second quarter of 2024, with significant developments such as the operational beginning of the Train 9 fractionator in Mont Belvieu and the Roadrunner II plant in Permian Delaware. These expansions signify strategic growth in asset developments for Targa, crucial for handling increasing volumes across its systems driven by record volumes in the Permian.

Furthermore, Baptista Research‘s coverage of Targa Resources Corp. emphasizes the company’s resilience in financial performance and operational execution. The analysts noted Targa’s robust Q1 2021 results, which included record adjusted EBITDA, Permian volumes, and LPG export volumes. Additionally, significant dividend increases and common share repurchases have positively influenced Targa’s investment outlook, showcasing a story of continued organic growth in its core businesses as highlighted in the research reports on Smartkarma.

A look at Targa Resources Corp. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on Smartkarma’s Smart Scores, Targa Resources shows a promising long-term outlook with high scores in Growth and Momentum. With a score of 5 in Growth, the company is expected to experience significant expansion and development in the future. Additionally, a Momentum score of 5 indicates strong market performance and investor interest in the company.

Although Targa Resources scores lower in Value, Dividend, and Resilience, the high scores in Growth and Momentum suggest a positive trajectory for the company. As a midstream natural gas and natural gas liquid services provider, Targa Resources Corp. plays a crucial role in the energy sector by gathering, processing, and selling natural gas, as well as transporting and selling natural gas liquids and related products.

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