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Targa Resources (TRGP) Stock Price, News & Analysis

$111.99
+0.94 (+0.85%)
(As of 04:10 PM ET)
Today's Range
$110.56
$112.28
50-Day Range
$82.48
$111.61
52-Week Range
$67.36
$112.50
Volume
1.55 million shs
Average Volume
1.73 million shs
Market Capitalization
$24.92 billion
P/E Ratio
30.51
Dividend Yield
1.79%
Price Target
$111.00

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.09 Rating Score
Upside/​Downside
0.9% Downside
$111.00 Price Target
Short Interest
Healthy
1.98% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.77mentions of Targa Resources in the last 14 days
Based on 18 Articles This Week
Insider Trading
Selling Shares
$7.99 M Sold Last Quarter
Proj. Earnings Growth
18.50%
From $5.73 to $6.79 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.47 out of 5 stars

Oils/Energy Sector

28th out of 240 stocks

Natural Gas Transmission Industry

2nd out of 19 stocks

TRGP stock logo

About Targa Resources Stock (NYSE:TRGP)

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is also involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. As of December 31, 2023, it leased and managed approximately 605 railcars; 137 tractors; and 6 vacuum trucks and 2 pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.

TRGP Stock Price History

TRGP Stock News Headlines

Targa Resources (NYSE:TRGP) Hits New 52-Week High at $112.50
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TRGP Oct 2024 80.000 put
TRGP Oct 2024 95.000 put
TRGP Jul 2024 87.500 put
TRGP Dec 2024 115.000 call
TRGP Jan 2025 130.000 call
TRGP Jul 2024 115.000 put
TRGP Jul 2024 130.000 call
TRGP Apr 2024 70.000 call
TRGP Apr 2024 105.000 put
TRGP Dec 2024 120.000 call
TRGP Jan 2025 120.000 call
TRGP Oct 2024 97.500 call
Targa: 2024 Shaping Up To Be A Good Year
See More Headlines
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Company Calendar

Ex-Dividend for 2/15 Dividend
1/30/2024
Last Earnings
2/15/2024
Dividend Payable
2/15/2024
Today
3/28/2024
Next Earnings (Estimated)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Energy
Industry
Oil & Gas Midstream
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
3,182
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$111.00
High Stock Price Target
$125.00
Low Stock Price Target
$100.00
Potential Upside/Downside
0.0%
Consensus Rating
Buy
Rating Score (0-4)
3.09
Research Coverage
11 Analysts

Profitability

Net Income
$828.20 million
Pretax Margin
12.10%

Debt

Sales & Book Value

Annual Sales
$16.06 billion
Cash Flow
$9.72 per share
Book Value
$20.67 per share

Miscellaneous

Free Float
219,442,000
Market Cap
$24.71 billion
Optionable
Optionable
Beta
2.20
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Should I Buy Targa Resources Stock? TRGP Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Targa Resources was last updated on Monday, March 25, 2024 at 11:16 PM.

Pros

Here are some ways that investors could benefit from investing in Targa Resources Corp.:

  • Targa Resources Corp. has shown consistent growth in institutional ownership, indicating confidence from large investors.
  • The company operates in two segments, Gathering and Processing, and Logistics and Transportation, providing diversified revenue streams.
  • Recent acquisitions of additional shares by institutional investors suggest positive sentiment towards the company's future prospects.
  • Targa Resources Corp. is involved in various aspects of the midstream energy sector, including natural gas processing and transportation, offering exposure to different parts of the energy value chain.
  • Despite market fluctuations, Targa Resources Corp.'s stock price has remained relatively stable, presenting a potential opportunity for long-term investors.

Cons

Investors should be bearish about investing in Targa Resources Corp. for these reasons:

  • The energy sector is subject to regulatory changes and market volatility, which can impact Targa Resources Corp.'s operations and financial performance.
  • Dependence on commodity prices, such as natural gas and crude oil, exposes Targa Resources Corp. to fluctuations in the market, affecting revenue and profitability.
  • Increased competition in the midstream energy sector may pressure margins and limit Targa Resources Corp.'s growth potential.
  • Uncertainties surrounding environmental policies and energy transition initiatives could pose challenges to Targa Resources Corp.'s business model and future projects.
  • Investors should carefully monitor Targa Resources Corp.'s debt levels and capital structure, as high leverage could impact the company's financial health and flexibility.

TRGP Stock Analysis - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last twelve months. There are currently 10 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" TRGP shares.
View TRGP analyst ratings
or view top-rated stocks.

What is Targa Resources' stock price target for 2024?

11 brokers have issued 12-month target prices for Targa Resources' stock. Their TRGP share price targets range from $100.00 to $125.00. On average, they expect the company's share price to reach $111.00 in the next year. This suggests that the stock has a possible downside of 0.9%.
View analysts price targets for TRGP
or view top-rated stocks among Wall Street analysts.

How have TRGP shares performed in 2024?

Targa Resources' stock was trading at $86.87 at the start of the year. Since then, TRGP shares have increased by 29.0% and is now trading at $112.05.
View the best growth stocks for 2024 here
.

When is Targa Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 2nd 2024.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) announced its earnings results on Thursday, February, 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by $0.26. The pipeline company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 5.20% and a trailing twelve-month return on equity of 18.64%.

How often does Targa Resources pay dividends? What is the dividend yield for Targa Resources?

Targa Resources declared a quarterly dividend on Thursday, January 18th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.50 per share on Thursday, February 15th. This represents a $2.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, January 30th.
Read our dividend analysis for TRGP
.

Is Targa Resources a good dividend stock?

Targa Resources (NYSE:TRGP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 1.81%. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 54.50%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 29.46% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for TRGP.

What is Joe Bob Perkins' approval rating as Targa Resources' CEO?

22 employees have rated Targa Resources Chief Executive Officer Joe Bob Perkins on Glassdoor.com. Joe Bob Perkins has an approval rating of 92% among the company's employees. This puts Joe Bob Perkins in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Targa Resources own?
Who are Targa Resources' major shareholders?

Targa Resources' stock is owned by a number of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (12.03%), Vanguard Group Inc. (12.02%), Blackstone Inc. (4.23%), Wellington Management Group LLP (3.39%), Goldman Sachs Group Inc. (1.64%) and Kayne Anderson Capital Advisors LP (1.33%). Insiders that own company stock include Charles R Crisp, Chris Tong, D Scott Pryor, G Clark White, Jennifer R Kneale, Joe Bob Perkins, Julie H Boushka, Paul W Chung, Regina Gregory, Rene R Joyce and Robert Muraro.
View institutional ownership trends
.

How do I buy shares of Targa Resources?

Shares of TRGP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:TRGP) was last updated on 3/28/2024 by MarketBeat.com Staff

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