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S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Brazil's economy grows 2.9% in Lula's 1st year, beating expectations
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Critical asset just had biggest fall on record (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Georgia's largest county is still repairing damage from January cyberattack
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Mistrial declared in Delaware lawsuit blaming landscaper's cancer on use of Roundup weedkiller
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Brazil's economy grows 2.9% in Lula's 1st year, beating expectations
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Critical asset just had biggest fall on record (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Georgia's largest county is still repairing damage from January cyberattack
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Mistrial declared in Delaware lawsuit blaming landscaper's cancer on use of Roundup weedkiller
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US
S&P 500   5,137.08
DOW   39,087.38
QQQ   445.61
Brazil's economy grows 2.9% in Lula's 1st year, beating expectations
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Lawyers who successfully argued Musk pay package was illegal seek $5.6 billion in Tesla stock
A US appeals court ruling could allow mine development on Oak Flat, land sacred to Apaches
Critical asset just had biggest fall on record (Ad)
Peace, music and memories: As the 1960s fade, historians scramble to capture Woodstock's voices
Georgia's largest county is still repairing damage from January cyberattack
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Mistrial declared in Delaware lawsuit blaming landscaper's cancer on use of Roundup weedkiller
In Senegal's capital, Nicaragua is a hot ticket among travel agents as migrants try to reach US

Targa Resources (TRGP) Stock Price, News & Analysis

$99.34
+1.10 (+1.12%)
(As of 03/1/2024 ET)
Today's Range
$98.60
$99.60
50-Day Range
$81.44
$99.34
52-Week Range
$64.85
$99.60
Volume
1.24 million shs
Average Volume
2.10 million shs
Market Capitalization
$22.17 billion
P/E Ratio
27.07
Dividend Yield
2.01%
Price Target
$106.56

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.10 Rating Score
Upside/​Downside
7.3% Upside
$106.56 Price Target
Short Interest
Healthy
1.84% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.45mentions of Targa Resources in the last 14 days
Based on 17 Articles This Week
Insider Trading
Selling Shares
$7.99 M Sold Last Quarter
Proj. Earnings Growth
18.13%
From $5.68 to $6.71 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.

3.75 out of 5 stars

Oils/Energy Sector

82nd out of 239 stocks

Natural Gas Transmission Industry

4th 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

This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
Targa Resources Corp. (NYSE:TRGP) CAO Sells $244,150.00 in Stock
TRGP Dec 2024 85.000 put
Analyst Scoreboard: 4 Ratings For Targa Resources
Targa Resources Forecasts Rising Profits on 2024 Exports
Targa Resources Corp
TRGP Feb 2024 80.000 call
Targa (TRGP) Q4 Earnings and Revenues Miss Estimates
Q4 2023 Targa Resources Corp Earnings Call
TRGP Feb 2024 100.000 put
Targa Resources Corp. Announces Form 10-K Available
See More Headlines
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Company Calendar

Last Earnings
5/06/2021
Ex-Dividend for 2/15 Dividend
1/30/2024
Dividend Payable
2/15/2024
Today
3/02/2024
Next Earnings (Estimated)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
3,182
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$106.56
High Stock Price Target
$114.00
Low Stock Price Target
$100.00
Potential Upside/Downside
+8.1%
Consensus Rating
Buy
Rating Score (0-4)
3.09
Research Coverage
10 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
$20.66 per share

Miscellaneous

Free Float
220,053,000
Market Cap
$22.17 billion
Optionable
Optionable
Beta
2.20
A Guide To High-Short-Interest Stocks Cover

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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 Tuesday, February 27, 2024 at 4:04 PM.

Pros

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

  • Targa Resources Corp. owns, operates, acquires, and develops a portfolio of complementary assets in the energy sector, providing diversification and potential for growth.
  • The company has a strong presence in the midstream energy market, which can offer stability and consistent cash flows.
  • Recent developments in the energy sector have shown an increase in demand for natural gas and natural gas liquids, which could benefit Targa Resources Corp.'s business.
  • Targa Resources Corp. has a diversified asset base, including pipelines, storage facilities, and processing plants, which can provide resilience in different market conditions.
  • Current stock price of Targa Resources Corp. is favorable for potential investors, offering an attractive entry point.

Cons

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

  • Targa Resources Corp. operates in a highly competitive and regulated industry, which can pose challenges and uncertainties for investors.
  • The energy sector is subject to market volatility and external factors, which can impact the financial performance of Targa Resources Corp.
  • Fluctuations in commodity prices, such as oil and natural gas, can affect the profitability of Targa Resources Corp.'s operations.
  • Investing in Targa Resources Corp. involves exposure to risks associated with environmental regulations and potential liabilities.
  • Changes in government policies and energy trends could impact the long-term prospects of Targa Resources Corp.














TRGP Stock Analysis - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 9 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?

10 Wall Street research analysts have issued 12-month price objectives for Targa Resources' stock. Their TRGP share price targets range from $100.00 to $114.00. On average, they predict the company's share price to reach $106.56 in the next twelve months. This suggests a possible upside of 7.3% 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 start of the year. Since then, TRGP shares have increased by 14.4% and is now trading at $99.34.
View the best growth stocks for 2024 here
.

Are investors shorting Targa Resources?

Targa Resources saw a increase in short interest in the month of January. As of January 31st, there was short interest totaling 3,450,000 shares, an increase of 19.4% from the January 15th total of 2,890,000 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the shares of the company are sold short.
View Targa Resources' Short Interest
.

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) posted its quarterly earnings results on Thursday, May, 6th. The pipeline company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.15 by $0.38. The pipeline company earned $3.63 billion during the quarter, compared to the consensus estimate of $2.62 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, January 18th. Stockholders of record on Wednesday, January 31st will be paid a dividend of $0.50 per share on Thursday, February 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date 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 2.04%. 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 29.81% 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 retail and institutional investors. Top institutional investors include Vanguard Group Inc. (12.03%), Blackstone Inc. (4.23%), Goldman Sachs Group Inc. (1.64%), Kayne Anderson Capital Advisors LP (1.33%), Jennison Associates LLC (1.11%) and Chickasaw Capital Management LLC (1.10%). Insiders that own company stock include Charles R Crisp, Chris Tong, D Scott Pryor, G Clark White, James W Whalen, 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 3/2/2024 by MarketBeat.com Staff