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S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
Morning sickness? Prenatal check-ups? What to know about new rights for pregnant workers
Tesla cuts US prices for 3 of its electric vehicle models after a difficult week
A coffee roastery in Finland has launched an AI-generated blend. The results were surprising
Autoworkers union celebrates breakthrough win in Tennessee and takes aim at more plants in the South
The House votes for possible TikTok ban in the US, but don't expect the app to go away anytime soon
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
New York lawmakers pass $237 billion budget with policies to jump-start housing market

Targa Resources (TRGP) Stock Price, News & Analysis

$112.92
+1.14 (+1.02%)
(As of 04/19/2024 ET)
Today's Range
$112.00
$113.94
50-Day Range
$88.32
$116.04
52-Week Range
$67.36
$117.61
Volume
1.52 million shs
Average Volume
1.69 million shs
Market Capitalization
$25.13 billion
P/E Ratio
30.77
Dividend Yield
1.77%
Price Target
$119.55

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
5.9% Upside
$119.55 Price Target
Short Interest
Healthy
1.73% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.74mentions of Targa Resources in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$7.99 M Sold Last Quarter
Proj. Earnings Growth
18.89%
From $5.77 to $6.86 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.

4.39 out of 5 stars

Oils/Energy Sector

18th out of 234 stocks

Natural Gas Transmission Industry

1st 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

The Best AI Stock to Own in the World Today is Trading for Just $25
“Titan of Tech” Bets Big on Tiny AI Company He’s made as much as 3,250,000% in just three years on companies like Facebook, Airbnb, and PayPal… But our research shows his latest investment could be his most successful venture yet.
Targa Resources Ups Quarterly Dividend by 50% YoY
TRGP Factor-Based Stock Analysis
The Best AI Stock to Own in the World Today is Trading for Just $25
“Titan of Tech” Bets Big on Tiny AI Company He’s made as much as 3,250,000% in just three years on companies like Facebook, Airbnb, and PayPal… But our research shows his latest investment could be his most successful venture yet.
Targa Resources Lifts Quarterly Dividend by 50%
J.P. Morgan Reaffirms Their Buy Rating on Targa Resources (TRGP)
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
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
4/21/2024
Ex-Dividend for 5/15 Dividend
4/29/2024
Next Earnings (Confirmed)
5/02/2024
Dividend Payable
5/15/2024
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
$117.92
High Stock Price Target
$130.00
Low Stock Price Target
$100.00
Potential Upside/Downside
+4.4%
Consensus Rating
Buy
Rating Score (0-4)
3.08
Research Coverage
12 Analysts

Profitability

Net Income
$828.20 million
Pretax Margin
12.10%

Debt

Sales & Book Value

Annual Sales
$16.06 billion
Cash Flow
$9.87 per share
Book Value
$20.67 per share

Miscellaneous

Free Float
219,442,000
Market Cap
$25.13 billion
Optionable
Optionable
Beta
2.21
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Should I Buy Targa Resources Stock? TRGP Pros and Cons Explained

Pros

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

  • Targa Resources Corp. owns, operates, and develops midstream infrastructure assets in North America, providing stability and potential growth in the energy sector.
  • The company is involved in various aspects of the natural gas and crude oil industry, offering diversification within the energy market.
  • Recent acquisitions and stake increases by institutional investors indicate confidence in the company's future prospects, potentially leading to positive stock performance.
  • Targa Resources Corp.'s involvement in gathering, processing, and selling natural gas and NGL products positions it well to benefit from the increasing demand for energy resources.
  • Considering the current stock price and market conditions, investing in Targa Resources Corp. may present an opportunity for capital appreciation.

Cons

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

  • The energy sector can be volatile, and fluctuations in commodity prices could impact Targa Resources Corp.'s financial performance and stock value.
  • Regulatory changes or environmental concerns related to the energy industry may pose risks to the company's operations and profitability.
  • Dependency on factors like supply-demand dynamics and geopolitical events in the energy market could introduce uncertainties for investors in Targa Resources Corp.
  • Market competition and technological advancements in the energy sector could affect Targa Resources Corp.'s competitive position and market share.
  • Investors should carefully assess the company's debt levels, cash flow, and overall financial health before making investment decisions in Targa Resources Corp.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, April 11, 2024. Please send any questions or comments about these Targa Resources pros and cons to contact@marketbeat.com.

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 year. There are currently 11 buy ratings 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 twelve-month target prices for Targa Resources' shares. Their TRGP share price targets range from $108.00 to $130.00. On average, they predict the company's share price to reach $119.55 in the next year. This suggests a possible upside of 5.9% 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 2024?

Targa Resources' stock was trading at $86.87 at the beginning of 2024. Since then, TRGP shares have increased by 30.0% and is now trading at $112.92.
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 can I listen to Targa Resources' earnings call?

Targa Resources will be holding an earnings conference call on Thursday, May 2nd at 11:00 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) released its earnings results on Thursday, February, 15th. The pipeline company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates 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 announced a quarterly dividend on Thursday, April 11th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.75 per share on Wednesday, May 15th. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from the stock's previous quarterly dividend of $0.50.
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 1.77%. 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 29.15% 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 variety of institutional and retail investors. Top institutional shareholders include Chickasaw Capital Management LLC (1.00%), Allspring Global Investments Holdings LLC (0.46%), Sumitomo Mitsui Trust Holdings Inc. (0.23%), Los Angeles Capital Management LLC (0.19%), Miller Howard Investments Inc. NY (0.14%) and Maryland State Retirement & Pension System (0.09%). 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 4/21/2024 by MarketBeat.com Staff

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