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.