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S&P 500   4,604.37
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MarketBeat Week in Review – 12/4 - 12/8
All the trading advice you’ve ever received boils down to this (Ad)
What is carbon capture and why does it keep coming up at COP28?
Polish truck drivers are blocking the border with Ukraine. It's hurting on the battlefield
All the trading advice you’ve ever received boils down to this (Ad)
Dozens of animals taken from Virginia roadside zoo as part of investigation
Peek inside Joe Biden's campaign fundraisers, where big money mingles with old jokes in swanky homes
All the trading advice you’ve ever received boils down to this (Ad)
Shohei Ohtani joins big-money club with massive contract with Los Angeles Dodgers
Consumer product agency issues warning on small magnetic balls linked to deaths
S&P 500   4,604.37
DOW   36,247.87
QQQ   392.17
MarketBeat Week in Review – 12/4 - 12/8
All the trading advice you’ve ever received boils down to this (Ad)
What is carbon capture and why does it keep coming up at COP28?
Polish truck drivers are blocking the border with Ukraine. It's hurting on the battlefield
All the trading advice you’ve ever received boils down to this (Ad)
Dozens of animals taken from Virginia roadside zoo as part of investigation
Peek inside Joe Biden's campaign fundraisers, where big money mingles with old jokes in swanky homes
All the trading advice you’ve ever received boils down to this (Ad)
Shohei Ohtani joins big-money club with massive contract with Los Angeles Dodgers
Consumer product agency issues warning on small magnetic balls linked to deaths
S&P 500   4,604.37
DOW   36,247.87
QQQ   392.17
MarketBeat Week in Review – 12/4 - 12/8
All the trading advice you’ve ever received boils down to this (Ad)
What is carbon capture and why does it keep coming up at COP28?
Polish truck drivers are blocking the border with Ukraine. It's hurting on the battlefield
All the trading advice you’ve ever received boils down to this (Ad)
Dozens of animals taken from Virginia roadside zoo as part of investigation
Peek inside Joe Biden's campaign fundraisers, where big money mingles with old jokes in swanky homes
All the trading advice you’ve ever received boils down to this (Ad)
Shohei Ohtani joins big-money club with massive contract with Los Angeles Dodgers
Consumer product agency issues warning on small magnetic balls linked to deaths
Top-Rated StocksTop-RatedTop-Rated Dividend StocksTop-Rated DividendPositive News SentimentPositive News

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

$86.56
+1.84 (+2.17%)
(As of 12/8/2023 ET)
Compare
Today's Range
$85.09
▼
$86.73
50-Day Range
$79.23
▼
$90.45
52-Week Range
$64.85
▼
$91.43
Volume
1.20 million shs
Average Volume
1.63 million shs
Market Capitalization
$19.30 billion
P/E Ratio
22.66
Dividend Yield
2.31%
Price Target
$104.00
Stock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.08 Rating Score
Upside/​Downside
20.1% 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
1.64mentions of Targa Resources in the last 14 days
Based on 6 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.

2.53 out of 5 stars

Oils/Energy Sector

71st out of 223 stocks

Natural Gas Transmission Industry

2nd out of 18 stocks

See Top Rated MarketRank™ Stocks Here

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

December 7, 2023 | finance.yahoo.com
Insider Sell Alert: Chief Commercial Officer Robert Muraro Sells 2,500 Shares of Targa ...
December 7, 2023 | seekingalpha.com
Targa Offers Some Of The Best Growth In The Midstream Space
December 9, 2023 | Autonomix (Ad)
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December 5, 2023 | seekingalpha.com
Targa Resources: Promising Growth Prospects But Almost Full Valuation
December 1, 2023 | americanbankingnews.com
Targa Resources Corp. (NYSE:TRGP) Receives $104.00 Average Target Price from Brokerages
November 14, 2023 | finance.yahoo.com
Targa Resources Corp. to Participate in BofA Securities Global Energy Conference
November 9, 2023 | finance.yahoo.com
Targa Resources Weighs Whether Building Apex Pipeline is Best Move
November 6, 2023 | benzinga.com
Targa Resources Stock (NYSE:TRGP), Analyst Ratings, Price Targets, Predictions
December 9, 2023 | DTI Trader (Ad)
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November 6, 2023 | finance.yahoo.com
Targa Resources Corp. Prices $2.0 Billion Offering of Senior Notes
November 6, 2023 | markets.businessinsider.com
Positive Outlook for Targa Resources (TRGP): Rising Volumes, Dividend Increase, and Prudent Growth Strategy
November 3, 2023 | finance.yahoo.com
Targa Resources Corp. (NYSE:TRGP) Q3 2023 Earnings Call Transcript
November 3, 2023 | finance.yahoo.com
The Targa Resources Corp (TRGP) Company: A Short SWOT Analysis
November 3, 2023 | finance.yahoo.com
Q3 2023 Targa Resources Corp Earnings Call
November 2, 2023 | finance.yahoo.com
Compared to Estimates, Targa Resources, Inc. (TRGP) Q3 Earnings: A Look at Key Metrics
November 2, 2023 | msn.com
Targa Resources rallies to multiyear high after planned dividend increase
November 2, 2023 | seekingalpha.com
Targa Resources Corp. 2023 Q3 - Results - Earnings Call Presentation
November 2, 2023 | reuters.com
Targa Resources quarterly profit jumps 14% on higher transport volumes
November 2, 2023 | finance.yahoo.com
Targa Resources Corp. Reports Third Quarter 2023 Financial Results and Announces Expectations for a 50% Year-Over-Year Increase to 2024 Common Dividend
November 2, 2023 | finance.yahoo.com
Targa Resources Corp (TRGP) Reports Q3 2023 Earnings, Announces 50% Dividend Increase for 2024
October 30, 2023 | finance.yahoo.com
Targa Resources Corp's Dividend Analysis
October 26, 2023 | finance.yahoo.com
Renaissance Technologies Returns, AUM, CEO and Top Energy Stock Picks
October 26, 2023 | finance.yahoo.com
Should You Buy Targa Resources Corp. (NYSE:TRGP) For Its Upcoming Dividend?
October 16, 2023 | finance.yahoo.com
The 7.3% return this week takes Targa Resources' (NYSE:TRGP) shareholders three-year gains to 457%
October 12, 2023 | finance.yahoo.com
Targa Resources Corp. Announces Quarterly Dividend and Timing of Third Quarter 2023 Earnings Webcast
October 7, 2023 | msn.com
Goldman Sachs Reiterates Targa Resources (TRGP) Buy Recommendation
September 29, 2023 | finance.yahoo.com
Strength Seen in Sunoco LP (SUN): Can Its 8.3% Jump Turn into More Strength?
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
12/09/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/28/2024
Get Stock Alerts

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 Target
$104.00
High Stock Price Target
$115.00
Low Stock Price Target
$94.00
Potential Upside/Downside
+20.1%
Consensus Rating
Buy
Rating Score (0-4)
3.08
Research Coverage
13 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$3.82
Trailing P/E Ratio
22.66
Forward P/E Ratio
17.21
P/E Growth
N/A
Net Income
$1.14 billion
Net Margins
5.33%
Pretax Margin
11.53%
Return on Equity
19.08%
Return on Assets
4.47%

Debt

Debt-to-Equity Ratio
2.81
Current Ratio
0.80
Quick Ratio
0.60

Sales & Book Value

Annual Sales
$20.93 billion
Price / Sales
0.92
Cash Flow
$10.39 per share
Price / Cash Flow
8.33
Book Value
$22.01 per share
Price / Book
3.93

Miscellaneous

Outstanding Shares
222,980,000
Free Float
219,877,000
Market Cap
$19.30 billion
Optionable
Optionable
Beta
2.22
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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 equities research 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 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 target for 2024?

13 Wall Street research analysts have issued twelve-month price objectives for Targa Resources' stock. Their TRGP share price targets range from $94.00 to $115.00. On average, they anticipate the company's stock price to reach $104.00 in the next twelve months. This suggests a possible upside of 20.1% 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 beginning of the year. Since then, TRGP stock has increased by 17.8% and is now trading at $86.56.
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) announced its quarterly earnings data on Thursday, November, 2nd. The pipeline company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by $0.20. The pipeline company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $5.13 billion. Targa Resources had a net margin of 5.33% and a trailing twelve-month return on equity of 19.08%.

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

Targa Resources announced a quarterly dividend on Thursday, October 12th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.50 per share on Wednesday, November 15th. This represents a $2.00 annualized dividend and a yield of 2.31%. The ex-dividend date 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 2.36%. 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 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).

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).

Who are Targa Resources' major shareholders?

Targa Resources' stock is owned by a number 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 12/9/2023 by MarketBeat.com Staff

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