Targa Resources Inc (TRGP)
Targa Resources Corp. The company is headquartered in Houston, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 131.68% per annum.
- TRGP price at the close of November 22, 2024 was $207.31 and was higher than the top border of the primary price channel by $12.73 (6.54%).
- The secondary trend is increasing.
- The growth rate of the secondary trend is 3,247.38% per annum.
- TRGP price at the close of November 22, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of TRGP price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: December 6, 2023
End date: November 18, 2024
a = 0.9843
b = 0.0023
s = 0.0440
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0023) – 1
= 131.68%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0440) – 1
= 19.24%
December 6, 2023 calculations
Top border of price channel:
Exp(Y1,014)
= Exp(a + b × X1,014 + 2 × s)
= Exp(a + b × 1,472 + 2 × s)
= Exp(0.9843 + 0.0023 × 1,472 + 2 × 0.0440)
= Exp(4.4606)
= $86.54
Bottom border of price channel:
Exp(Y1,014)
= Exp(a + b × X1,014 – 2 × s)
= Exp(a + b × 1,472 – 2 × s)
= Exp(0.9843 + 0.0023 × 1,472 – 2 × 0.0440)
= Exp(4.2847)
= $72.58
November 18, 2024 calculations
Top border of price channel:
Exp(Y1,253)
= Exp(a + b × X1,253 + 2 × s)
= Exp(a + b × 1,820 + 2 × s)
= Exp(0.9843 + 0.0023 × 1,820 + 2 × 0.0440)
= Exp(5.2616)
= $192.80
Bottom border of price channel:
Exp(Y1,253)
= Exp(a + b × X1,253 – 2 × s)
= Exp(a + b × 1,820 – 2 × s)
= Exp(0.9843 + 0.0023 × 1,820 – 2 × 0.0440)
= Exp(5.0857)
= $161.69
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 131.68% per annum.
- TRGP price at the close of November 22, 2024 was $207.31 and was higher than the top border of the primary price channel by $12.73 (6.54%).
Secondary Trend
Start date: October 25, 2024
End date: November 22, 2024
a = -12.1977
b = 0.0096
s = 0.0247
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0096) – 1
= 3,247.38%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0247) – 1
= 10.37%
October 25, 2024 calculations
Top border of price channel:
Exp(Y1,237)
= Exp(a + b × X1,237 + 2 × s)
= Exp(a + b × 1,796 + 2 × s)
= Exp(-12.1977 + 0.0096 × 1,796 + 2 × 0.0247)
= Exp(5.1265)
= $168.42
Bottom border of price channel:
Exp(Y1,237)
= Exp(a + b × X1,237 – 2 × s)
= Exp(a + b × 1,796 – 2 × s)
= Exp(-12.1977 + 0.0096 × 1,796 – 2 × 0.0247)
= Exp(5.0278)
= $152.60
November 22, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(-12.1977 + 0.0096 × 1,824 + 2 × 0.0247)
= Exp(5.3958)
= $220.47
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(-12.1977 + 0.0096 × 1,824 – 2 × 0.0247)
= Exp(5.2971)
= $199.76
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 3,247.38% per annum.
- TRGP price at the close of November 22, 2024 was inside the secondary price channel.