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Targa Resources (TRGP) Stock Forecast, Price & News

$85.44
+1.00 (+1.18%)
(As of 02:51 PM ET)
Compare
Today's Range
$84.22
$86.01
50-Day Range
$77.71
$87.53
52-Week Range
$57.23
$87.86
Volume
632,510 shs
Average Volume
1.56 million shs
Market Capitalization
$19.11 billion
P/E Ratio
23.15
Dividend Yield
2.34%
Price Target
$102.80

Targa Resources MarketRank™ Forecast

Analyst Rating
Buy
3.09 Rating Score
Upside/​Downside
20.3% Upside
$102.80 Price Target
Short Interest
Healthy
1.61% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
1.15mentions of Targa Resources in the last 14 days
Based on 5 Articles This Week
Insider Trading
Selling Shares
$1.22 M Sold Last Quarter
Proj. Earnings Growth
48.67%
From $4.89 to $7.27 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.51 out of 5 stars

Oils/Energy Sector

72nd out of 248 stocks

Natural Gas Transmission Industry

6th out of 20 stocks


TRGP stock logo

About Targa Resources (NYSE:TRGP) Stock

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. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages 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. The company is also involved in the purchase and resale of NGL products; and wholesale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, it 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, 2022, it leased and managed approximately 606 railcars; 122 tractors; and 6 vacuum trucks and 2 pressurized NGL barges. The company was incorporated in 2005 and is headquartered in Houston, Texas.

TRGP Price History

TRGP Stock News Headlines

Targa Resources (NYSE:TRGP) PT Raised to $105.00
Space CEO Featured on Good Morning America
A $25 Billion Earth Observation Market by 2040. Learn more
What 7 Analyst Ratings Have To Say About Targa Resources
Why Targa Resources (TRGP) Stock Was Higher Today
Targa Resources (NYSE: TRGP)
The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
Targa Resources (TRGP) Receives a Rating Update from a Top Analyst
Is Targa Resources Corp (TRGP) Modestly Overvalued?
Q2 2023 Targa Resources Corp Earnings Call
See More Headlines
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TRGP Company Calendar

Ex-Dividend for 8/15 Dividend
7/28/2023
Last Earnings
8/03/2023
Dividend Payable
8/15/2023
Today
9/25/2023
Next Earnings (Estimated)
11/02/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
2,850
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$102.80
High Stock Price Forecast
$115.00
Low Stock Price Forecast
$89.00
Forecasted Upside/Downside
+19.9%
Consensus Rating
Buy
Rating Score (0-4)
3.09
Research Coverage
11 Analysts

Profitability

Net Income
$1.14 billion
Pretax Margin
10.35%

Debt

Sales & Book Value

Annual Sales
$20.93 billion
Cash Flow
$10.33 per share
Book Value
$22.01 per share

Miscellaneous

Free Float
220,602,000
Market Cap
$19.19 billion
Optionable
Optionable
Beta
2.27
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Key Executives

  • Mr. Matthew J. Meloy (Age 45)
    CEO & Director
    Comp: $4.53M
  • Ms. Jennifer R. Kneale (Age 44)
    Chief Financial Officer
    Comp: $2.13M
  • Mr. D. Scott PryorMr. D. Scott Pryor (Age 60)
    Pres of Logistics & Transportation
    Comp: $1.65M
  • Mr. Patrick J. McDonie (Age 62)
    Pres of Gathering & Processing
    Comp: $1.65M
  • Mr. Robert M. Muraro (Age 46)
    Chief Commercial Officer
    Comp: $1.65M
  • Mr. G. Clark WhiteMr. G. Clark White (Age 63)
    Exec. VP of Operations
  • Ms. Julie H. BoushkaMs. Julie H. Boushka (Age 60)
    Sr. VP & Chief Accounting Officer
  • Mr. Sanjay Lad
    VP of Fin. & Investor Relations
  • Ms. Regina L. Gregory (Age 52)
    Exec. VP, Gen. Counsel & Sec.
  • Mr. Denny Latham
    Exec. VP of Permian & Gen. Partner













TRGP Stock - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

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

What is Targa Resources' stock price forecast for 2023?

11 analysts have issued 1-year target prices for Targa Resources' stock. Their TRGP share price forecasts range from $89.00 to $115.00. On average, they predict the company's stock price to reach $102.80 in the next year. This suggests a possible upside of 19.9% from the stock's current price.
View analysts price targets for TRGP
or view top-rated stocks among Wall Street analysts.

How have TRGP shares performed in 2023?

Targa Resources' stock was trading at $73.50 on January 1st, 2023. Since then, TRGP stock has increased by 16.7% and is now trading at $85.77.
View the best growth stocks for 2023 here
.

When is Targa Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) issued its earnings results on Thursday, August, 3rd. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. The pipeline company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $4.56 billion. Targa Resources had a net margin of 4.75% and a trailing twelve-month return on equity of 18.14%.

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

Targa Resources declared a quarterly dividend on Thursday, July 13th. Stockholders of record on Monday, July 31st will be given a dividend of $0.50 per share on Tuesday, August 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, July 28th.
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 2.37%. 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 54.20%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 27.51% 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?
What is Targa Resources' stock symbol?

Targa Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "TRGP."

Who are Targa Resources' major shareholders?

Targa Resources' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (8.41%), State Street Corp (6.61%), Geode Capital Management LLC (2.14%), Kayne Anderson Capital Advisors LP (1.45%), Zimmer Partners LP (1.41%) and Chickasaw Capital Management LLC (1.19%). Insiders that own company stock include Charles R Crisp, Chris Tong, D Scott Pryor, G Clark White, James W Whalen, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Targa Resources' stock price today?

One share of TRGP stock can currently be purchased for approximately $85.77.

How much money does Targa Resources make?

Targa Resources (NYSE:TRGP) has a market capitalization of $19.19 billion and generates $20.93 billion in revenue each year. The pipeline company earns $1.14 billion in net income (profit) each year or $3.69 on an earnings per share basis.

How many employees does Targa Resources have?

The company employs 2,850 workers across the globe.

How can I contact Targa Resources?

Targa Resources' mailing address is TARGA RESOURCES PARTNERS LP 1000 LOUISIANA STREET SUITE 4300, HOUSTON TX, 77002. The official website for the company is www.targaresources.com. The pipeline company can be reached via phone at (713) 584-1000, via email at investorrelations@targaresources.com, or via fax at 713-584-1100.

This page (NYSE:TRGP) was last updated on 9/25/2023 by MarketBeat.com Staff

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