Targa Resources Stock Price, News & Analysis (NYSE:TRGP)

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last twelve months. There are currently 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" TRGP shares.
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13 Wall Street analysts have issued 1 year target prices for Targa Resources' shares. Their TRGP share price targets range from $94.00 to $115.00. On average, they anticipate the company's share price to reach $104.00 in the next twelve months. This suggests a possible upside of 15.4% 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 stock has increased by 22.7% and is now trading at $90.16.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 28th 2024.
View our TRGP earnings forecast.

Targa Resources Corp. (NYSE:TRGP) released its quarterly earnings data on Thursday, November, 2nd. The pipeline company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.17 by $0.20. The pipeline company earned $3.90 billion during the quarter, compared to analyst estimates of $5.13 billion. Targa Resources had a trailing twelve-month return on equity of 19.08% and a net margin of 5.33%.

Targa Resources declared a quarterly dividend on Thursday, October 12th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.50 per share on Wednesday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, October 30th.
Read our dividend analysis for TRGP.

Targa Resources (NYSE:TRGP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.22%. 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 52.36%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 27.93% next year. This indicates that the company will be able to sustain or increase its dividend.
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), 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).

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' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Wellington Management Group LLP (3.73%), Invesco Ltd. (2.88%), Blackstone Inc. (2.64%), Deutsche Bank AG (2.50%), Deutsche Bank AG (2.50%) and Morgan Stanley (1.70%). 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.
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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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