Targa Resources Corp. TRGP saw a big move last session, as the company’s shares fell by nearly 14% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for TRGP, as the stock is now down over 45% in the past one-month time frame.
The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks (1 increases, 0 decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
TRGP currently has a Zacks Rank #4 (Sell) while its Earnings ESP is positive.
A better-ranked stock in the Oil Refining & Marketing MLP industry is Ferrellgas Partners LP FGP, which currently carries a Zacks Rank #1 (Strong Buy).
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