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Targa Resources (TRGP) Stock Price, News & Analysis

$114.28
+0.43 (+0.38%)
(As of 05/24/2024 ET)
Today's Range
$113.65
$114.75
50-Day Range
$107.36
$118.20
52-Week Range
$67.36
$119.68
Volume
928,756 shs
Average Volume
1.40 million shs
Market Capitalization
$25.34 billion
P/E Ratio
23.51
Dividend Yield
2.63%
Price Target
$121.50

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
6.3% Upside
$121.50 Price Target
Short Interest
Healthy
2.06% 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 28 Articles This Week
Insider Trading
Selling Shares
$4.66 M Sold Last Quarter
Proj. Earnings Growth
30.77%
From $5.33 to $6.97 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.

4.76 out of 5 stars

Energy Sector

1st out of 6 stocks

Oil & Gas Midstream Industry

1st out of 1 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

2 Breakout Energy Stocks With More Room to Run
Scotiabank Keeps Their Buy Rating on Targa Resources (TRGP)
Q1 2024 Targa Resources Corp Earnings Call
See More Headlines
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Company Calendar

Ex-Dividend for 5/15 Dividend
4/29/2024
Last Earnings
5/02/2024
Dividend Payable
5/15/2024
Today
5/25/2024
Next Earnings (Estimated)
8/01/2024
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
$121.50
High Stock Price Target
$130.00
Low Stock Price Target
$108.00
Potential Upside/Downside
+6.3%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
12 Analysts

Profitability

Net Income
$828.20 million
Pretax Margin
10.51%

Debt

Sales & Book Value

Annual Sales
$16.06 billion
Cash Flow
$9.81 per share
Book Value
$20.65 per share

Miscellaneous

Free Float
218,635,000
Market Cap
$25.34 billion
Optionable
Optionable
Beta
2.19
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TRGP Stock Analysis - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 12 buy ratings for the stock. The consensus among Wall Street 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?

12 Wall Street research analysts have issued 12-month price targets for Targa Resources' shares. Their TRGP share price targets range from $108.00 to $130.00. On average, they anticipate the company's share price to reach $121.50 in the next twelve months. This suggests a possible upside of 6.3% 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 beginning of the year. Since then, TRGP stock has increased by 31.6% and is now trading at $114.28.
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, August 1st 2024.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) issued its earnings results on Thursday, May, 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.13. The pipeline company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.28 billion. Targa Resources had a trailing twelve-month return on equity of 24.41% and a net margin of 6.86%.

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

Targa Resources declared a quarterly dividend on Thursday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, April 29th. This is a boost 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 $3.00 per share and currently has a dividend yield of 2.63%. The company has been increasing its dividend for 4 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 61.73%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 43.04% 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 many different institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (12.18%), Blackstone Inc. (4.37%), Kayne Anderson Capital Advisors LP (1.22%), Chickasaw Capital Management LLC (1.00%), Jennison Associates LLC (0.90%) and Bank of New York Mellon Corp (0.78%). Insiders that own company stock include Charles R Crisp, D Scott Pryor, Ershel C Redd Jr, 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 5/26/2024 by MarketBeat.com Staff

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