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NYSE:TRGP

Targa Resources (TRGP) Stock Forecast, Price & News

$83.07

-2.36 (-2.76%)

(As of 09/21/2023 ET)

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Today's Range: $83.06
▼
$85.59
50-Day Range: $77.71
▼
$87.53
52-Week Range: $57.23
▼
$87.86

Volume: 1.24 million shs
Average Volume: 1.39 million shs
Market Capitalization: $18.58 billion

P/E Ratio: 22.51
Dividend Yield: 2.41%
Price Target: $102.80

Targa Resources MarketRank™ Forecast

Analyst Rating: Buy
3.09 Rating Score
Upside/Downside: 23.8% 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: 0.97
Based on 8 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.

2.50 out of 5 stars

Oils/Energy Sector

76th out of 242 stocks

Natural Gas Transmission Industry

7th out of 19 stocks

2.5

Analyst's Opinion

Consensus Rating
Targa Resources has received a consensus rating of Buy. The company's average rating score is 3.09, and is based on 10 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $102.80, Targa Resources has a forecasted upside of 23.8% from its current price of $83.07.
Amount of Analyst Coverage
Targa Resources has only been the subject of 4 research reports in the past 90 days.

4.0

Short Interest

Percentage of Shares Shorted
1.61% of the float of Targa Resources has been sold short.
Short Interest Ratio / Days to Cover
Targa Resources has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Targa Resources has recently decreased by 0.84%, indicating that investor sentiment is improving.

2.5

Dividend Strength

Dividend Yield
Targa Resources pays a meaningful dividend of 2.34%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Targa Resources has only been increasing its dividend for 2 years.
Dividend Coverage
The dividend payout ratio of Targa Resources is 54.20%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Targa Resources will have a dividend payout ratio of 27.51% next year. This indicates that Targa Resources will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Targa Resources has received a -98.19% net impact score from Upright. The largest negative impact of Targa Resources in category "GHG emissions" seems to be driven mostly by its "LNG pipes", "Natural gas pipes", and "LNG terminals" products. See details.
Environmental Sustainability
The Environmental Impact score for Targa Resources is -7.39.

3.3

News and Social Media Coverage

News Sentiment
Targa Resources has a news sentiment score of 0.97. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.67 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for Targa Resources this week, compared to 4 articles on an average week.
Search Interest
Only 9 people have searched for TRGP on MarketBeat in the last 30 days. This is a decrease of -18% compared to the previous 30 days.
MarketBeat Follows
12 people have added Targa Resources to their MarketBeat watchlist in the last 30 days. This is an increase of 300% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Targa Resources insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,215,524.00 in company stock.
Percentage Held by Insiders
Only 1.39% of the stock of Targa Resources is held by insiders.
Percentage Held by Institutions
90.21% of the stock of Targa Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Targa Resources are expected to grow by 48.67% in the coming year, from $4.89 to $7.27 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Targa Resources is 22.51, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 118.41.
Price to Earnings Ratio vs. Sector
The P/E ratio of Targa Resources is 22.51, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 12.94.
Price to Book Value per Share Ratio
Targa Resources has a P/B Ratio of 3.77. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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

30 days | 90 days | 365 days | Advanced Chart

TRGP Stock News Headlines

September 22, 2023 | americanbankingnews.com

Targa Resources (NYSE:TRGP) PT Raised to $105.00

September 17, 2023 | americanbankingnews.com

Analysts Set Targa Resources Corp. (NYSE:TRGP) Target Price at $102.20

September 22, 2023 | Wall Street Fundamentals (Ad)

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August 29, 2023 | markets.businessinsider.com

What 7 Analyst Ratings Have To Say About Targa Resources

August 23, 2023 | thestreet.com

Why Targa Resources (TRGP) Stock Was Higher Today

August 15, 2023 | finance.yahoo.com

Some Analysts Just Cut Their Targa Resources Corp. (NYSE:TRGP) Estimates

August 9, 2023 | fool.com

Targa Resources (NYSE: TRGP)

August 9, 2023 | investing.com

Citi maintains Targa Resources at 'buy' with a price target of $100.00

September 22, 2023 | Edge On The Street (Ad)

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August 8, 2023 | markets.businessinsider.com

Targa Resources (TRGP) Receives a Rating Update from a Top Analyst

August 6, 2023 | finance.yahoo.com

Is Now The Time To Put Targa Resources (NYSE:TRGP) On Your Watchlist?

August 4, 2023 | finance.yahoo.com

Is Targa Resources Corp (TRGP) Modestly Overvalued?

August 4, 2023 | markets.businessinsider.com

Analysts Conflicted on These NA Names: First Solar (FSLR), Pembina Pipeline (PBA) and Targa Resources (TRGP)

August 4, 2023 | finance.yahoo.com

Q2 2023 Targa Resources Corp Earnings Call

August 3, 2023 | finance.yahoo.com

Targa Resources Corp. Reports Second Quarter 2023 Financial Results

July 30, 2023 | seekingalpha.com

Targa Resources Corp: At A Premium That Mutes A Buy Case

July 20, 2023 | msn.com

Morgan Stanley Maintains Targa Resources (TRGP) Overweight Recommendation

July 20, 2023 | finance.yahoo.com

Boasting A 43% Return On Equity, Is Targa Resources Corp. (NYSE:TRGP) A Top Quality Stock?

July 19, 2023 | finance.yahoo.com

What Earnings Recession? 8 Stocks' Profit Poised To Boom 150%-Plus

July 13, 2023 | finance.yahoo.com

Targa Resources Corp. Announces Quarterly Dividend and Timing of Second Quarter 2023 Earnings Webcast

July 13, 2023 | finance.yahoo.com

Targa Resources Corp. Announces Quarterly Dividend and Timing of Second Quarter 2023 Earnings Webcast

July 6, 2023 | msn.com

Citigroup Reiterates Targa Resources (TRGP) Buy Recommendation

June 30, 2023 | msn.com

Mizuho Reiterates Targa Resources (TRGP) Buy Recommendation

June 29, 2023 | msn.com

Truist Securities Reiterates Targa Resources (TRGP) Buy Recommendation

June 28, 2023 | benzinga.com

What 8 Analyst Ratings Have To Say About Targa Resources

June 19, 2023 | finance.yahoo.com

Targa Resources Corp. to Participate in J.P. Morgan Energy, Power and Renewables Conference

June 4, 2023 | benzinga.com

Targa Resources Stock (NYSE:TRGP), Guidance and Forecast

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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: 9/21/2023
Next Earnings (Estimated): 11/02/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Natural gas transmission
Sub-Industry: Oil & Gas Storage & Transportation
Sector: Oils/Energy
Current Symbol: NYSE:TRGP
CUSIP: 87612G10
CIK: 1389170
Web: www.targaresources.com
Phone: (713) 584-1000
Fax: 713-584-1100
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: +23.8%
Consensus Rating: Buy
Rating Score (0-4): 3.09
Research Coverage: 11 Analysts

Profitability

EPS (Most Recent Fiscal Year): $3.69
Trailing P/E Ratio: 22.51
Forward P/E Ratio: 16.99
P/E Growth: N/A
Net Income: $1.14 billion
Net Margins: 4.75%
Pretax Margin: 10.35%
Return on Equity: 18.14%
Return on Assets: 4.37%

Debt

Debt-to-Equity Ratio: 2.60
Current Ratio: 0.74
Quick Ratio: 0.61

Sales & Book Value

Annual Sales: $17.84 billion
Price / Sales: 1.04
Cash Flow: $9.92 per share
Price / Cash Flow: 8.37
Book Value: $22.01 per share
Price / Book: 3.77

Miscellaneous

Outstanding Shares: 223,712,000
Free Float: 220,602,000
Market Cap: $18.58 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 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 White (Age 63)
Exec. VP of Operations

Ms. 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

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

TRGP Stock - 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 forecast for 2023?: 11 brokerages have issued 12 month 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 share price to reach $102.80 in the next twelve months. This suggests a possible upside of 23.8% 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 at the start of the year. Since then, TRGP stock has increased by 13.0% and is now trading at $83.07.
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) posted its quarterly earnings data on Thursday, August, 3rd. The pipeline company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.21. The pipeline company earned $3.40 billion during the quarter, compared to analyst estimates of $4.56 billion. Targa Resources had a trailing twelve-month return on equity of 18.14% and a net margin of 4.75%.
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 paid 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 2.41%. The ex-dividend date is Friday, July 28th.
Read our dividend analysis for TRGP.
What ETFs hold Targa Resources' stock?: ETFs with the largest weight of Targa Resources (NYSE:TRGP) stock in their portfolio include USCF Midstream Energy Income Fund (UMI), Alerian Energy Infrastructure ETF (ENFR), Global X MLP & Energy Infrastructure ETF (MLPX), VanEck Energy Income ETF (EINC), Pacer American Energy Independence ETF (USAI), Invesco S&P 500 Equal Weight Energy ETF (RSPG), Invesco S&P 500 Equal Weight Energy ETF (RYE) and Tortoise North American Pipeline Fund (TPYP).
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 2.35%. 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?: Based on aggregate information from My MarketBeat watchlists, some companies that other Targa Resources investors own include Energy Transfer (ET), Government Properties Income Trust (GOV), Esperion Therapeutics (ESPR), Enterprise Products Partners (EPD), AT&T (T), Targa Resources Partners (NGLS.PA), Phillips 66 (PSX), New Residential Investment (NRZ), ALDW (ALDW) and Intel (INTC).
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 number of institutional and retail investors. Top institutional investors 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 $83.07.
How much money does Targa Resources make?: Targa Resources (NYSE:TRGP) has a market capitalization of $18.58 billion and generates $17.84 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 9/22/2023 by MarketBeat.com Staff

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