Targa Resources Shares Fall 2.52% as $260M Volume Ranks 416th in U.S. Trading Amid Forza Pipeline Bid Launch

. 5, . stocks. The decline came amid a key strategic move: the company launched a non-binding open season for bids on its Forza Pipeline Project, aiming to enhance gas transportation from the Delaware Basin to Texas markets. The initiative, , could strengthen long-term cash flows and infrastructure utilization.

Recent developments highlight Targa’s focus on expanding Permian Basin connectivity. , . , aligning with production growth timelines. Regulatory approvals and shipper commitments remain critical to the project’s success, which could influence investor sentiment and operational metrics.

Technical indicators suggest heightened caution for short-term traders. A observed on the 15-minute chart, coupled with narrowing , signals reduced volatility and potential downward momentum. These patterns, while not deterministic, may amplify near-term selling pressure as market participants await clarity on the Forza Pipeline’s financial impact.

, citing steady Permian growth and liquidity management. Meanwhile, , reflecting mixed operational performance. Analysts remain divided on the stock’s medium-term prospects, with some emphasizing the company’s strategic flexibility and others cautioning about market volatility.

To ensure the back-test matches exactly what you have in mind, could you please confirm a few details about the strategy? 1. Universe • Are we looking at all U.S. listed common stocks, a specific index (e.g., Russell 3000), or another market? 2. Selection rule • “Top 500 by daily trading volume” – is the cut-off based on dollar volume or share volume? 3. Rebalance mechanics • Do we form the portfolio at the close each day and unwind at the next day’s close (i.e., a 1-day holding period)? • Equal-weight each of the 500 names? 4. Frictions • Should we include any assumptions for transaction costs or slippage? 5. Price series • Is “close” price sufficient for entry/exit, or would you prefer “open”/“VWAP” pricing? 6. Benchmark / metrics • Any particular benchmark to compare against (e.g., SPY), or just absolute return and risk statistics? Once these points are clarified I can generate the necessary signals, run the back-test, and present the results.