GuruFocus - On August 12, 2024, Charles Crisp, Director at Targa Resources Corp (NYSE:TRGP), executed a sale of 5,000 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 88,471 shares of Targa Resources Corp.
Targa Resources Corp is engaged in providing midstream services and logistics solutions for its customers. The company operates in the gathering and processing segment of the midstream natural gas industry. It primarily provides processing, treating, fractionating, storage, and transportation services.
Over the past year, the insider has sold a total of 26,000 shares and has not made any purchases. This recent sale continues a trend observed over the past year at Targa Resources Corp, where there have been no insider buys but 27 insider sells.
On the day of the sale, shares of Targa Resources Corp were priced at $137.63. The company's market cap was approximately $29.93 billion. The price-earnings ratio stood at 28.97, which is above the industry median of 10.98.
According to the GF Value, an intrinsic value estimate calculated by GuruFocus, Targa Resources Corp is significantly overvalued. The GF Value of $75.42 suggests a price-to-GF-Value ratio of 1.82, indicating that the stock's current price is much higher than its estimated fair value.
The GF Value is determined by historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business results.
This sale by Director Charles Crisp might be of interest to investors tracking insider activities, especially considering the stock's current valuation metrics and the overall trend of insider transactions at Targa Resources Corp.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.