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S&P 500   4,594.63
DOW   36,245.50
QQQ   389.94
Man kills 4 relatives in Queens knife rampage, injures 2 officers before he's fatally shot by police
New CBOE “special perk” helps traders target income every weekend (Ad)
British military reports an explosion off the coast of Yemen in the key Bab el-Mandeb Strait
Stock market today: Shares mixed in Asia ahead of updates on jobs, inflation
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal that may attract regulator scrutiny
Watchdog: Western arms companies failed to ramp up production capacity in 2022 due to Ukraine war
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air Group announces it has agreed to buy Hawaiian Airlines in a $1.9 billion deal with debt
Economists predict US inflation will keep cooling and the economy can avoid a recession
S&P 500   4,594.63
DOW   36,245.50
QQQ   389.94
Man kills 4 relatives in Queens knife rampage, injures 2 officers before he's fatally shot by police
New CBOE “special perk” helps traders target income every weekend (Ad)
British military reports an explosion off the coast of Yemen in the key Bab el-Mandeb Strait
Stock market today: Shares mixed in Asia ahead of updates on jobs, inflation
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal that may attract regulator scrutiny
Watchdog: Western arms companies failed to ramp up production capacity in 2022 due to Ukraine war
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air Group announces it has agreed to buy Hawaiian Airlines in a $1.9 billion deal with debt
Economists predict US inflation will keep cooling and the economy can avoid a recession
S&P 500   4,594.63
DOW   36,245.50
QQQ   389.94
Man kills 4 relatives in Queens knife rampage, injures 2 officers before he's fatally shot by police
New CBOE “special perk” helps traders target income every weekend (Ad)
British military reports an explosion off the coast of Yemen in the key Bab el-Mandeb Strait
Stock market today: Shares mixed in Asia ahead of updates on jobs, inflation
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air to buy Hawaiian Airlines in a $1.9 billion deal that may attract regulator scrutiny
Watchdog: Western arms companies failed to ramp up production capacity in 2022 due to Ukraine war
New CBOE “special perk” helps traders target income every weekend (Ad)
Alaska Air Group announces it has agreed to buy Hawaiian Airlines in a $1.9 billion deal with debt
Economists predict US inflation will keep cooling and the economy can avoid a recession

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

$90.16
-0.29 (-0.32%)
(As of 12/1/2023 08:55 PM ET)
Compare
Today's Range
$90.00
$91.43
50-Day Range
$79.23
$90.45
52-Week Range
$64.85
$91.43
Volume
1.29 million shs
Average Volume
1.61 million shs
Market Capitalization
$20.10 billion
P/E Ratio
23.60
Dividend Yield
2.22%
Price Target
$104.00

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.08 Rating Score
Upside/​Downside
15.4% Upside
$104.00 Price Target
Short Interest
Healthy
1.57% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
1.11mentions of Targa Resources in the last 14 days
Based on 3 Articles This Week
Insider Trading
Selling Shares
$1.34 M Sold Last Quarter
Proj. Earnings Growth
42.35%
From $5.03 to $7.16 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

80th out of 226 stocks

Natural Gas Transmission Industry

2nd out of 18 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. 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 Stock Price History

TRGP Stock News Headlines

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Q3 2023 Targa Resources Corp Earnings Call
Targa Resources Corp's Dividend Analysis
What 7 Analyst Ratings Have To Say About Targa Resources
See More Headlines
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Company Calendar

Ex-Dividend for 11/15 Dividend
10/30/2023
Last Earnings
11/02/2023
Dividend Payable
11/15/2023
Today
12/03/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/28/2024

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
2,850
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$104.00
High Stock Price Target
$115.00
Low Stock Price Target
$94.00
Potential Upside/Downside
+15.4%
Consensus Rating
Buy
Rating Score (0-4)
3.08
Research Coverage
13 Analysts

Profitability

Net Income
$1.14 billion
Pretax Margin
11.53%

Debt

Sales & Book Value

Annual Sales
$20.93 billion
Cash Flow
$10.16 per share
Book Value
$19.63 per share

Miscellaneous

Free Float
219,877,000
Market Cap
$20.10 billion
Optionable
Optionable
Beta
2.23
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 Sunday, December 3, 2023 at 4:29 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.
  • The company has a diverse range of assets, including natural gas gathering and processing plants, crude oil gathering and storage facilities, and refined products terminals.
  • Targa Resources Corp. has a strong presence in key energy-producing regions, such as the Permian Basin and the Bakken Shale.
  • The company has a track record of strategic acquisitions and partnerships, which have helped expand its footprint and enhance its competitive position.
  • Recent developments indicate that Targa Resources Corp. has a fleet of transportation assets, including railcars, tractors, and barges, which provide additional revenue streams.

Cons

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

  • There may be volatility in the energy sector, which could impact the company's financial performance.
  • Fluctuations in commodity prices, such as natural gas and crude oil, can affect Targa Resources Corp.'s revenue and profitability.
  • Regulatory changes and environmental concerns may pose challenges to the company's operations and growth prospects.
  • Dependence on third-party customers for the utilization of its assets exposes Targa Resources Corp. to counterparty risks.
  • Investors should consider the current stock price and conduct thorough analysis before making investment decisions.














TRGP Stock Analysis - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

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.
View TRGP analyst ratings
or view top-rated stocks.

What is Targa Resources' stock price target for 2024?

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.
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 22.7% and is now trading at $90.16.
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 Wednesday, February 28th 2024.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

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%.

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

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
.

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 2.22%. 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.

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 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.
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.

This page (NYSE:TRGP) was last updated on 12/4/2023 by MarketBeat.com Staff

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