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 149.52% per annum.
- TRGP price at the close of May 17, 2024 was $117.67 and was lower than the bottom border of the primary price channel by $226.51 (65.81%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 32.56% per annum.
- TRGP price at the close of May 17, 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: March 9, 2020
End date: June 10, 2022
a = 1.6423
b = 0.0025
s = 0.1853
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0025) – 1
= 149.52%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1853) – 1
= 109.82%
March 9, 2020 calculations
Top border of price channel:
Exp(Y202)
= Exp(a + b × X202 + 2 × s)
= Exp(a + b × 294 + 2 × s)
= Exp(1.6423 + 0.0025 × 294 + 2 × 0.1853)
= Exp(2.7493)
= $15.63
Bottom border of price channel:
Exp(Y202)
= Exp(a + b × X202 – 2 × s)
= Exp(a + b × 294 – 2 × s)
= Exp(1.6423 + 0.0025 × 294 – 2 × 0.1853)
= Exp(2.0082)
= $7.45
June 10, 2022 calculations
Top border of price channel:
Exp(Y772)
= Exp(a + b × X772 + 2 × s)
= Exp(a + b × 1,117 + 2 × s)
= Exp(1.6423 + 0.0025 × 1,117 + 2 × 0.1853)
= Exp(4.8111)
= $122.86
Bottom border of price channel:
Exp(Y772)
= Exp(a + b × X772 – 2 × s)
= Exp(a + b × 1,117 – 2 × s)
= Exp(1.6423 + 0.0025 × 1,117 – 2 × 0.1853)
= Exp(4.0700)
= $58.56
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 149.52% per annum.
- TRGP price at the close of May 17, 2024 was $117.67 and was lower than the bottom border of the primary price channel by $226.51 (65.81%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: June 2, 2021
End date: May 17, 2024
a = 3.2195
b = 0.0008
s = 0.0972
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 32.56%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0972) – 1
= 47.52%
June 2, 2021 calculations
Top border of price channel:
Exp(Y513)
= Exp(a + b × X513 + 2 × s)
= Exp(a + b × 744 + 2 × s)
= Exp(3.2195 + 0.0008 × 744 + 2 × 0.0972)
= Exp(3.9884)
= $53.97
Bottom border of price channel:
Exp(Y513)
= Exp(a + b × X513 – 2 × s)
= Exp(a + b × 744 – 2 × s)
= Exp(3.2195 + 0.0008 × 744 – 2 × 0.0972)
= Exp(3.5997)
= $36.59
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(3.2195 + 0.0008 × 1,824 + 2 × 0.0972)
= Exp(4.8225)
= $124.27
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.2195 + 0.0008 × 1,824 – 2 × 0.0972)
= Exp(4.4337)
= $84.24
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 32.56% per annum.
- TRGP price at the close of May 17, 2024 was inside the secondary price channel.