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 123.28% per annum.
- TRGP price at the close of April 2, 2025 was $205.72 and was lower than the bottom border of the primary price channel by $5.21 (2.47%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 10.55% per annum.
- TRGP price at the close of April 2, 2025 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: November 7, 2023
End date: February 21, 2025
a = 1.4416
b = 0.0022
s = 0.0532
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0022) – 1
= 123.28%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0532) – 1
= 23.73%
November 7, 2023 calculations
Top border of price channel:
Exp(Y905)
= Exp(a + b × X905 + 2 × s)
= Exp(a + b × 1,313 + 2 × s)
= Exp(1.4416 + 0.0022 × 1,313 + 2 × 0.0532)
= Exp(4.4377)
= $84.58
Bottom border of price channel:
Exp(Y905)
= Exp(a + b × X905 – 2 × s)
= Exp(a + b × 1,313 – 2 × s)
= Exp(1.4416 + 0.0022 × 1,313 – 2 × 0.0532)
= Exp(4.2247)
= $68.36
February 21, 2025 calculations
Top border of price channel:
Exp(Y1,227)
= Exp(a + b × X1,227 + 2 × s)
= Exp(a + b × 1,785 + 2 × s)
= Exp(1.4416 + 0.0022 × 1,785 + 2 × 0.0532)
= Exp(5.4764)
= $239.00
Bottom border of price channel:
Exp(Y1,227)
= Exp(a + b × X1,227 – 2 × s)
= Exp(a + b × 1,785 – 2 × s)
= Exp(1.4416 + 0.0022 × 1,785 – 2 × 0.0532)
= Exp(5.2635)
= $193.16
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 123.28% per annum.
- TRGP price at the close of April 2, 2025 was $205.72 and was lower than the bottom border of the primary price channel by $5.21 (2.47%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: November 6, 2024
End date: April 2, 2025
a = 4.7907
b = 0.0003
s = 0.0520
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 10.55%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0520) – 1
= 23.13%
November 6, 2024 calculations
Top border of price channel:
Exp(Y1,156)
= Exp(a + b × X1,156 + 2 × s)
= Exp(a + b × 1,678 + 2 × s)
= Exp(4.7907 + 0.0003 × 1,678 + 2 × 0.0520)
= Exp(5.3557)
= $211.81
Bottom border of price channel:
Exp(Y1,156)
= Exp(a + b × X1,156 – 2 × s)
= Exp(a + b × 1,678 – 2 × s)
= Exp(4.7907 + 0.0003 × 1,678 – 2 × 0.0520)
= Exp(5.1476)
= $172.02
April 2, 2025 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(4.7907 + 0.0003 × 1,825 + 2 × 0.0520)
= Exp(5.3961)
= $220.54
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(4.7907 + 0.0003 × 1,825 – 2 × 0.0520)
= Exp(5.1880)
= $179.11
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 10.55% per annum.
- TRGP price at the close of April 2, 2025 was inside the secondary price channel.