Strength Seen in Targa Resources (TRGP): Can Its 8.2% Jump Turn into More Strength?

Targa Resources, Inc. (TRGP) shares ended the last trading session 8.2% higher at $173.65. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% loss over the past four weeks.Targa Resources saw its stock price rise as natural gas prices followed the upward trend in oil prices. The energy infrastructure company benefited from the broader market rally that was sparked by President Trump’s decision to pause tariff hikes and reduce tariff rates. This policy changes reduced concerns about trade barriers and their impact on energy-related businesses like Targa. With investor confidence restored, Targa’s stock rose, driven by both the higher oil and natural gas prices and the positive economic outlook from the temporary tariff pause and reduced tariff rates.This company is expected to post quarterly earnings of $2.04 per share in its upcoming report, which represents a year-over-year change of +67.2%. Revenues are expected to be $5.58 billion, up 22.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Targa Resources, the consensus EPS estimate for the quarter has been revised 4.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TRGP going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Targa Resources is part of the Zacks Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. Global Partners LP (GLP), another stock in the same industry, closed the last trading session 8% higher at $48.49. GLP has returned -17.9% in the past month.Global Partners' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +91.9%. Global Partners currently boasts a Zacks Rank of #4 (Sell).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Targa Resources, Inc. (TRGP): Free Stock Analysis Report Global Partners LP (GLP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks