Cambridge Investment Research Advisors Decreases Stake in Targa Resources Corp.
January 17, 2023
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TARGA RESOURCES ($NYSE:TRGP) is an American energy company that operates in the midstream sector. The company is engaged in the gathering, processing, storage, transportation and marketing of natural gas, natural gas liquids, crude oil and refined products. It could be a sign that the firm believes the stock is overvalued or that they are choosing to diversify their investments. Regardless, this decrease in ownership marks a significant change in the ownership structure of Targa Resources Corp. and is likely to have an impact on the stock price.
Price History
On Wednesday, TARGA RESOURCES stock opened at $75.0 and closed at $74.6, up by 0.4% from the previous closing price of 74.4. They specialize in the gathering, processing, storage and transportation of natural gas and natural gas liquids, as well as crude oil and refined products. The company operates through two segments: Gas & Oil Midstream and Logistics & Marketing. Overall, the decrease in stake by Cambridge Investment Research Advisors Inc. had no significant impact on TARGA RESOURCES stock, with the stock closing at nearly the same price as the previous closing price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Targa Resources. More…
| Total Revenues | Net Income | Net Margin |
| 21.82k | 243.5 | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Targa Resources. More…
| Operations | Investing | Financing |
| 2.35k | -3.82k | 1.44k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Targa Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.39k | 14.66k | 10.54 |
Key Ratios Snapshot
Some of the financial key ratios for Targa Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 35.4% | 63.8% | 6.4% |
| FCF Margin | ROE | ROA |
| 6.2% | 39.4% | 4.5% |
VI Analysis
TARGA RESOURCES is classified as a ‘cheetah’ according to the VI Star Chart, which indicates that the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who may be interested in such a company include those who are looking for growth opportunities and are comfortable with taking on higher risk. TARGA RESOURCES has a strong performance in terms of growth, and medium performance in asset, dividend, and profitability. It also has an intermediate health score of 6/10 with regard to its cashflows and debt, which could indicate that the company is able to sustain future operations in times of crisis. Overall, TARGA RESOURCES’ fundamentals reflect its long-term potential. Analyzing the company’s performance in terms of growth, assets, dividends, profitability, and health can provide investors with an insight into the company’s long-term prospects. Investing in such a company could be lucrative for those willing to take on higher risk, but could also come with greater risk. As such, it is important for investors to consider all factors when making decisions on whether or not to invest in TARGA RESOURCES. More…
VI Peers
The company has a strong presence in the key producing basins in the United States and is well-positioned to capitalize on the growing demand for natural gas. Targa’s competitors include ONEOK Inc, Kinetik Holdings Inc, Anhui Province Natural Gas Development Co Ltd.
– ONEOK Inc ($NYSE:OKE)
ONEOK Inc is a leading midstream service provider in the United States. It has a market cap of 24.61B as of 2022 and a Return on Equity of 28.78%. The company operates in three segments: Natural Gas Gathering, Processing and Transportation; Natural Gas Liquids (NGL) Gathering, Processing, Transportation and Marketing; and Crude Oil Gathering and Transportation. ONEOK is one of the largest independent natural gas processors in the United States, with an average processing capacity of 2.6 billion cubic feet per day in 2020. The company is also one of the largest NGL marketers in the United States and owns one of the largest NGL transportation systems in the country.
– Kinetik Holdings Inc ($NASDAQ:KNTK)
Kinetik Holdings Inc is a publicly traded company with a market capitalization of $1.49 billion as of 2022. The company has a return on equity of 5.46%. Kinetik Holdings Inc is engaged in the business of providing turnkey engineering, procurement and construction services for the development and construction of electric transmission and distribution systems.
– Anhui Province Natural Gas Development Co Ltd ($SHSE:603689)
Anhui Province Natural Gas Development Co Ltd is a Chinese state-owned enterprise that engages in the development and operation of natural gas projects. The company has a market cap of 3.45 billion as of 2022 and a return on equity of 7.42%. The company’s main business activities include the exploration, development, production, and sales of natural gas.
Summary
Investors have recently taken note of Targa Resources Corp., with Cambridge Investment Research Advisors Inc. decreasing their stake in the company. Despite this, Targa Resources has shown promising returns for its investors over the course of the past year. Analysts have been bullish on the company, forecasting continued growth in the near future.
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