Stock Price Trends

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 133.70% per annum.
  • TRGP price at the close of July 26, 2024 was $131.57 and was inside the primary price channel.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 86.64% per annum.
  • TRGP price at the close of July 26, 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: July 26, 2024

a = 0.6827

b = 0.0023

s = 0.0436

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0023) – 1
= 133.70%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0436) – 1
= 19.04%

December 6, 2023 calculations

Top border of price channel:

Exp(Y1,098)
= Exp(a + b × X1,098 + 2 × s)
= Exp(a + b × 1,591 + 2 × s)
= Exp(0.6827 + 0.0023 × 1,591 + 2 × 0.0436)
= Exp(4.4701)
= $87.36

Bottom border of price channel:

Exp(Y1,098)
= Exp(a + b × X1,098 – 2 × s)
= Exp(a + b × 1,591 – 2 × s)
= Exp(0.6827 + 0.0023 × 1,591 – 2 × 0.0436)
= Exp(4.2958)
= $73.39

July 26, 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(0.6827 + 0.0023 × 1,824 + 2 × 0.0436)
= Exp(5.0119)
= $150.20

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(0.6827 + 0.0023 × 1,824 – 2 × 0.0436)
= Exp(4.8377)
= $126.17

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 133.70% per annum.
  • TRGP price at the close of July 26, 2024 was $131.57 and was inside the primary price channel.

Secondary Trend

Start date: March 6, 2024
End date: July 26, 2024

a = 1.7744

b = 0.0017

s = 0.0267

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0017) – 1
= 86.64%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0267) – 1
= 11.26%

March 6, 2024 calculations

Top border of price channel:

Exp(Y1,159)
= Exp(a + b × X1,159 + 2 × s)
= Exp(a + b × 1,682 + 2 × s)
= Exp(1.7744 + 0.0017 × 1,682 + 2 × 0.0267)
= Exp(4.7034)
= $110.32

Bottom border of price channel:

Exp(Y1,159)
= Exp(a + b × X1,159 – 2 × s)
= Exp(a + b × 1,682 – 2 × s)
= Exp(1.7744 + 0.0017 × 1,682 – 2 × 0.0267)
= Exp(4.5967)
= $99.16

July 26, 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(1.7744 + 0.0017 × 1,824 + 2 × 0.0267)
= Exp(4.9462)
= $140.63

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(1.7744 + 0.0017 × 1,824 – 2 × 0.0267)
= Exp(4.8395)
= $126.40

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 86.64% per annum.
  • TRGP price at the close of July 26, 2024 was inside the secondary price channel.