Stocks of Targa Resources (NYSE:TRGP) rallied by 1.92% during the past week but lost 5.94% on a 4-week basis. The company has outperformed the S&P 500 by 3.14% in the past week but underperformed the index by 6.8% in the last 4 weeks.
Targa Resources (NYSE:TRGP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.06 and $40.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.48, notching a gain of 2.57% for the day. The total traded volume was 3,045,786 . The stock had closed at $40.44 on the previous day.
The company shares have dropped -55.20% from its 1 Year high price. On Jun 23, 2015, the shares registered one year high at $95.04 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $41.81 and the 200 Day Moving Average price is recorded at $30.63.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Whalen James W, director officer (See Remarks) of Targa Resources Corp., had unloaded 25,000 shares at an average price of $40 in a transaction dated on June 13, 2016. The total value of the transaction was worth $1,000,000.
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Jefferies downgrades its outlook on Targa Resources (NYSE:TRGP). The current rating of the shares is Hold, according to the research report released by the firm. Previously, the company had a rating of Buy. The brokerage firm raises the price target from $34 per share to $45 per share. The rating by the firm was issued on June 8, 2016. Currently the company Insiders own 3% of Targa Resources shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -13.23% . Institutional Investors own 82.02% of Targa Resources shares. During last six month period, the net percent change held by insiders has seen a change of -13.23%.
Targa Resources Corp. (Traga), through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. The Company operates in two divisions Gathering and Processing and Logistics and Marketing. Gathering and Processing includes Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing includes Logistics Assets and Marketing and Distribution.