A notable feature in recent sessions is "TRGP stock price"’s narrow consolidation around $132, which often signals upcoming volatility. Traders are monitoring the MACD crossover for confirmation of bullish short-term momentum. High Capital Expenditure and Debt: TRGP is projecting a substantial capital expenditure (“CapEx”) of $2.7 billion for 2024, largely driven by growth in the Permian Basin and the accelerated development of projects such as the Blackcomb Pipeline. However, as of June 30, 2024, the company’s total debt is more than $13.5 billion, resulting in a debt-to-capitalization ratio of 75.7%. While these investments could foster long-term growth, the significant debt burden and high CapEx may constrain short-term cash flow, potentially deterring risk-averse investors. Commodity Price Exposure and Economic Uncertainty: An economic slowdown or weaker global energy demand could hurt Targa’s volumes, especially given its reliance on export markets, potentially stalling growth. Investors may hold on to the stock until there’s more clarity on economic conditions. While Targa's revenues are largely fee-based, it still faces risks from commodity price fluctuations. Lower natural gas and NGL prices could impact profitability, making investors cautious despite hedging efforts. The stock of Targa Resources has a consensus Strong Buy rating among 15 Wall Street analysts. That rating is based on 13 Buy and two Hold recommendations issued in the last three months. The average TRGP price target of $201.53 implies 17.63% upside from current levels. The latest "TRGP stock price" is trading near $133, marking a slight uptick of 0.8% in today’s session. Traders are watching key resistance at $135, with momentum indicators like RSI showing moderate buying pressure. In the midstream energy sector, strong natural gas volumes add to bullish sentiment.