Targa Pretax Profit Margin from 2010 to 2024
| TRGP Stock | USD 207.69 4.85 2.39% |
Check Targa Resources financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Targa Resources' main balance sheet or income statement drivers, such as , as well as many indicators such as . Targa financial statements analysis is a perfect complement when working with Targa Resources Valuation or Volatility modules.
Targa |
About Targa Resources Financial Statements
Targa Resources shareholders use historical fundamental indicators, such as Pretax Profit Margin, to determine how well the company is positioned to perform in the future. Although Targa Resources investors may analyze each financial statement separately, they are all interrelated. The changes in Targa Resources' assets and liabilities, for example, are also reflected in the revenues and expenses on on Targa Resources' income statement. Understanding these patterns can help investors time the market effectively. Please read more on our fundamental analysis page.
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. The company was incorporated in 2005 and is headquartered in Houston, Texas. Targa Resources operates under Oil Gas Midstream classification in the United States and is traded on New York Stock Exchange. It employs 2430 people.
Pair Trading with Targa Resources
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Targa Resources position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Targa Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with Targa Stock
| 0.7 | AM | Antero Midstream Partners | PairCorr |
| 0.95 | EE | Excelerate Energy | PairCorr |
| 0.95 | ET | Energy Transfer LP Aggressive Push | PairCorr |
| 0.85 | DLNG | Dynagas LNG Partners Earnings Call This Week | PairCorr |
Moving against Targa Stock
| 0.76 | GEL | Genesis Energy LP | PairCorr |
| 0.73 | LPG | Dorian LPG | PairCorr |
| 0.54 | FRO | Frontline Earnings Call This Week | PairCorr |
| 0.46 | TK | Teekay | PairCorr |
| 0.33 | FLNG | FLEX LNG Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Targa Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Targa Resources when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Targa Resources - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Targa Resources to buy it.
The correlation of Targa Resources is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Targa Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Targa Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Targa Resources can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional 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.