Targa Resources (TRGP) Stock Forecast, Price & News

14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 13 buy ratings and 1 strong buy rating 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.

14 brokerages have issued 1-year price targets for Targa Resources' stock. Their TRGP share price forecasts range from $92.00 to $115.00. On average, they anticipate the company's share price to reach $100.27 in the next year. This suggests a possible upside of 47.4% from the stock's current price.
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Targa Resources' stock was trading at $73.50 at the start of the year. Since then, TRGP shares have decreased by 7.4% and is now trading at $68.05.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our TRGP earnings forecast.

Targa Resources Corp. (NYSE:TRGP) issued its quarterly earnings results on Thursday, May, 6th. The pipeline company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.38. The pipeline company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. Targa Resources had a net margin of 5.43% and a trailing twelve-month return on equity of 24.05%.

Targa Resources declared a quarterly dividend on Thursday, April 13th. Stockholders of record on Friday, April 28th will be paid a dividend of $0.50 per share on Monday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, April 27th. This is a positive change from the stock's previous quarterly dividend of $0.35.
Read our dividend analysis for TRGP.

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), ASYMmetric Smart Alpha S&P 500 ETF (ZSPY), Global X MLP & Energy Infrastructure ETF (MLPX), First Trust Energy AlphaDEX Fund (FXN), Pacer American Energy Independence ETF (USAI), VanEck Energy Income ETF (EINC) and Invesco S&P 500 Equal Weight Energy ETF (RYE).

Targa Resources (NYSE:TRGP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.89%. 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 51.81%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 26.95% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for TRGP.

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.

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).

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

Targa Resources' stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.30%), State Street Corp (6.76%), Tortoise Capital Advisors L.L.C. (3.63%), Wellington Management Group LLP (3.20%), Geode Capital Management LLC (2.07%) and Kayne Anderson Capital Advisors LP (1.48%). Insiders that own company stock include 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.
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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.
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One share of TRGP stock can currently be purchased for approximately $68.05.

Targa Resources (NYSE:TRGP) has a market capitalization of $15.38 billion and generates $20.93 billion in revenue each year. The pipeline company earns $1.14 billion in net income (profit) each year or $3.86 on an earnings per share basis.

The company employs 2,850 workers across the globe.

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.