Targa Resources Corp. | TRGP

Daily Technical Analysis of Targa Resources Corp.

Investors didn't show much interest in one Targa Resources way or another today. It hasn't moved too much today but is slightly down, it lost -0.36% since yesterday.

Currently TRGP isn't at a clear support/resistance line that seems tradable. But let's also consider momentum! Targa Resources has had a nice run over the last year and provided good returns to shareholders. Over the previous year, the Oil & Gas company has grown 131.66 percent which isn't too bad. TRGP may hit some resistance around the 84.44 level, more sellers may enter the market here and push price back down. But it's definitely not guaranteed.

Last analyzed on 2024-11-13

Analyst Ratings for Targa Resources By Price Target And Rating

The analysts are pretty neutral on Targa Resources right now, so not much useful information here. The current Analysts Sentiment Score is 7.46. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. On 2024-04-16 Stifel Nicolaus increased their price target by 17.12% to $130.00. Scotiabank boosted their price targ by 14.29% to $128.00 on 2024-04-15. On 2024-04-09 Barclays increased their price target by 5.17% to $122.00. On 2024-04-04 The Goldman Sachs Group increased their price target by 11.43% to $117.00. Mizuho gave a boost to their price target and moved to $130.00 from $105.00 on 2024-04-03. Truist Financial decided to move up their price target on 2024-03-20 to $120.00 which is a 14.29% increase. JPMorgan Chase & Co. provided a price target boost of 2.46% to $125.00 from $122.00 on 2024-03-06. Royal Bank of Canada gave a boost to their price target and moved to $109.00 from $106.00 on 2024-02-26. On 2024-02-21 Citigroup increased their price target by 7.69% to $112.00. On 2024-01-18 UBS Group lowered their price target by -0.92% to $108.00.

Company	Ratings Score ? Composite analyst sentiment score	Positive Ratings	Negative Ratings	Boost Price Target	Lower Price Target
TRGP	7.46	0.45	0	14.92	-0.45

Earnings Per Share (EPS) Estimates By Year and Quarter

(updated 2024-03-28)

Company	YOY Growth Score (typical -20 to +20)	Revision Directions (-6 to +6)
TRGP	0.00	0.00

Short interest for Targa Resources

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Company	Short Score (typical 1-15) ? We take into account several different measures and attributes of short interest to create a composite sentiment score. typical range (0 - 30)	Short Interest	Days to Cover	Rate of Change	Shares Short
TRGP	1.8	%1.6	2.2	-7.524	3520000

How Targa Resources compares to the broader Energy sector and the more specific Oil & Gas - Midstream industry

Segment	Count	1 Day%	5 Day	1 Month	3 Month	6 Month	1 Year	RSI	3mo S-momo ? Smooth Momentum is our proprietary technical indicator that looks for momentum with the greatest consistency and steady velocity. We have penalized dramatic swings and fluctuations. If the momentum is too high and an asset spikes upward, this is often unreliable and collapses back down. But the smoothed momentum provides the highest probability of continuing into the near future with the same directional rate of change. Several complex factors are weighted by neural nets to maximize probabilistic accuracy. It works the same with positive or negative directions.	6mo S-momo	1yr S-momo	Resistance ? Support and Resistance levels are determined by previous high and low points. You may be familiar with traders drawing lines across charts where several peaks or valleys occur in the same range. This helps us understand the trading range of an asset where the market doesn't perceive it to be worth more or less than a certain price level. When it nears the boundaries of this range the probability of reversal can increase. Our neural nets create scores for this measure based on many factors such as the frequency, recency, size, consistency, etc of previous reversal points.	Support	Demark Sell ? Demark 9 indicators are designed to look for exhaustion in the selling or buying trend which can often be predictive of a reversal point. This indicator is triggered when there are 9 consecutive days where the closing price is higher/lower than the closing price 4 days ago. Like all indicators, it is best used in combinations with other factors.	Demark Buy	Short Interest	Analysts Ratings ? We track several different measures of analyst sentiment including ratings and price targets. To create a composite Analyst Sentiment Score, we weight several factors such as the recent rate of change which can be more predictive than the absolute level. We also weight each analyst's opinion based on their historic accuracy. We built in a time decay function to ensure that the rating reflects the current sentiment levels. Typical range (-80 to +80)
Oil & Gas - Midstream Show Me Companies With: S-Momentum: Highest \| Lowest At Bottom Support At Top Resistance RSI Highest \| Lowest 1 Day Growth: Highest \| Lowest 5 Day Growth: Highest \| Lowest 1 Month Growth: Highest \| Lowest 6 Month Growth: Highest \| Lowest List All Stocks	20	-0.32	2.50	6.17	12.06	19.97	31.61	62.25	55.25	45.72	50.46	-4201.87	-31429.49	22.50	0.00	4.22	3.03
Energy Show Me Companies With: S-Momentum: Highest \| Lowest At Bottom Support At Top Resistance RSI Highest \| Lowest 1 Day Growth: Highest \| Lowest 5 Day Growth: Highest \| Lowest 1 Month Growth: Highest \| Lowest 6 Month Growth: Highest \| Lowest List All Stocks	99	0.82	1.01	5.98	4.75	3.16	9.11	63.29	7.92	1.26	5.81	-10301.95	-14100.57	7.32	1.52	4.03	3.56

Social Sentiment for Targa Resources

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.

Ticker	Social Sentiment(1-10)
TRGP

Companies with the highest correlation to Targa Resources

Company	Score	1 Day%	5 Day	1 Month	3 Month	6 Month	1 Year	RSI	3mo S-momo ? Smooth Momentum is our proprietary technical indicator that looks for momentum with the greatest consistency and steady velocity. We have penalized dramatic swings and fluctuations. If the momentum is too high and an asset spikes upward, this is often unreliable and collapses back down. But the smoothed momentum provides the highest probability of continuing into the near future with the same directional rate of change. Several complex factors are weighted by neural nets to maximize probabilistic accuracy. It works the same with positive or negative directions.	6mo S-momo	1yr S-momo	Resistance ? Support and Resistance levels are determined by previous high and low points. You may be familiar with traders drawing lines across charts where several peaks or valleys occur in the same range. This helps us understand the trading range of an asset where the market doesn't perceive it to be worth more or less than a certain price level. When it nears the boundaries of this range the probability of reversal can increase. Our neural nets create scores for this measure based on many factors such as the frequency, recency, size, consistency, etc of previous reversal points.	Support	Short Interest Score
OKE \| Oneok, Inc.	2.28	0.04	4.89	16.16	28.28	41.11	69.12	86	124.00	70.17	104.92	0.00	-64865.79	1.63335
WMB \| Williams Companies Inc.	1.86	0.17	5.61	11.55	30.65	46.35	63.28	79	171.96	131.70	125.34	0.00	-59721.44	2.82887
KMI \| Kinder Morgan, Inc.	1.77	1.12	3.83	13.49	32.19	48.48	63.77	84	144.81	116.08	94.22	0.00	-46496.74	2.40694
MRO \| Marathon Oil Corporation	1.75	0.59	0.24	9.55	2.34	12.22	14.26	69	6.16	7.49	11.71	-241.34	-23226.83	0.91967
APA \| APA Corporation Common St	1.74	0.96	-2.08	-10.30	-22.54	-25.03	-39.57	32	-75.64	-58.90	-60.35	-56111.79	0.00	1.98955
MUR \| Murphy Oil Corp.	1.59	1.45	-1.05	1.76	-11.65	-21.21	-22.89	59	-88.54	-101.17	-34.03	-45901.89	-955.19	3.47115
OXY \| Occidental Petroleum Corp	1.53	0.81	0.47	-0.86	-10.34	-17.83	-16.20	50	-59.77	-52.23	-23.03	-33076.16	-1364.32	4.70844
HAL \| Halliburton Company	1.53	0.67	5.73	11.12	0.03	-13.07	-17.15	70	-30.30	-42.97	-40.34	-18587.33	-2185.05	1.77112

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