Targa Resources Stock Market Value
| TRGP Stock | USD 116.90 0.89 0.77% |
| Symbol | Targa |
Targa Resources Price To Book Ratio
Is Targa Resources' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Targa Resources. If investors know Targa will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Targa Resources listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.11) | Dividend Share 2 | Earnings Share 3.66 | Revenue Per Share 71.506 | Quarterly Revenue Growth (0.07) |
The market value of Targa Resources is measured differently than its book value, which is the value of Targa that is recorded on the company's balance sheet. Investors also form their own opinion of Targa Resources' value that differs from its market value or its book value, called intrinsic value, which is Targa Resources' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Targa Resources' market value can be influenced by many factors that don't directly affect Targa Resources' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Targa Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if Targa Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Targa Resources' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Targa Resources 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Targa Resources' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Targa Resources.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Targa Resources on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Targa Resources or generate 0.0% return on investment in Targa Resources over 30 days. Targa Resources is related to or competes with NuStar Energy. Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops... More
Targa Resources Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Targa Resources' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Targa Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9275 | |||
| Information Ratio | 0.3465 | |||
| Maximum Drawdown | 7.19 | |||
| Value At Risk | (1.35) | |||
| Potential Upside | 2.39 |
Targa Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Targa Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Targa Resources' standard deviation. In reality, there are many statistical measures that can use Targa Resources historical prices to predict the future Targa Resources' volatility.| Risk Adjusted Performance | 0.265 | |||
| Jensen Alpha | 0.44 | |||
| Total Risk Alpha | 0.3556 | |||
| Sortino Ratio | 0.4679 | |||
| Treynor Ratio | 0.5543 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Targa Resources' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Targa Resources Backtested Returns
Targa Resources appears to be very steady, given 3 months investment horizon. Targa Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.4, which indicates the firm had a 0.4% return per unit of risk over the last 3 months. By inspecting Targa Resources' technical indicators, you can evaluate if the expected return of 0.5% is justified by implied risk. Please review Targa Resources' Coefficient Of Variation of 240.04, risk adjusted performance of 0.265, and Semi Deviation of 0.3348 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Targa Resources holds a performance score of 30. The entity has a beta of 0.92, which indicates possible diversification benefits within a given portfolio. Targa Resources returns are very sensitive to returns on the market. As the market goes up or down, Targa Resources is expected to follow. Please check Targa Resources' potential upside, as well as the relationship between the kurtosis and day typical price , to make a quick decision on whether Targa Resources' existing price patterns will revert.
Auto-correlation | -0.37 |
Poor reverse predictability
Targa Resources has poor reverse predictability. Overlapping area represents the amount of predictability between Targa Resources time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Targa Resources price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Targa Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 2.17 |
Targa Resources lagged returns against current returns
Autocorrelation, which is Targa Resources stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Targa Resources' stock expected returns. We can calculate the autocorrelation of Targa Resources returns to help us make a trade decision. For example, suppose you find that Targa Resources has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Targa Resources regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Targa Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Targa Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Targa Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Targa Resources Lagged Returns
When evaluating Targa Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Targa Resources stock have on its future price. Targa Resources autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Targa Resources autocorrelation shows the relationship between Targa Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Targa Resources.
Regressed Prices |
| Timeline |
Targa Resources Investors Sentiment
The influence of Targa Resources' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Targa. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Targa Resources' public news can be used to forecast risks associated with an investment in Targa. The trend in average sentiment can be used to explain how an investor holding Targa can time the market purely based on public headlines and social activities around Targa Resources. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Targa Resources' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Targa Resources' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Targa Resources' news discussions. The higher the estimated score, the more favorable is the investor's outlook on Targa Resources.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Targa Resources in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Targa Resources' short interest history, or implied volatility extrapolated from Targa Resources options trading.
Currently Active Assets on Macroaxis
When determining whether Targa Resources is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Targa Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Targa Resources Stock. Highlighted below are key reports to facilitate an investment decision about Targa Resources Stock:Check out Targa Resources Correlation, Targa Resources Volatility and Targa Resources Alpha and Beta module to complement your research on Targa Resources. To learn how to invest in Targa Stock, please use our How to Invest in Targa Resources guide.Note that the Targa Resources information on this page should be used as a complementary analysis to other Targa Resources' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Complementary Tools for Targa Stock analysis
When running Targa Resources' price analysis, check to measure Targa Resources' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Targa Resources is operating at the current time. Most of Targa Resources' value examination focuses on studying past and present price action to predict the probability of Targa Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Targa Resources' price. Additionally, you may evaluate how the addition of Targa Resources to your portfolios can decrease your overall portfolio volatility.
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Targa Resources technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.