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How major US stock indexes fared Wednesday, 2/21/2024
Germany says Europe's largest economy is in 'troubled waters' and cuts its growth forecast
S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
Income Expert and Author of Get Rich With Dividends Is Giving Away His Top Income Secrets… FOR FREE! (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Germany says Europe's largest economy is in 'troubled waters' and cuts its growth forecast
S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
Income Expert and Author of Get Rich With Dividends Is Giving Away His Top Income Secrets… FOR FREE! (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Germany says Europe's largest economy is in 'troubled waters' and cuts its growth forecast
S&P 500   4,981.80
DOW   38,612.24
QQQ   425.61
Palo Alto Networks, Keysight fall; Garmin, Toll Brothers rise, Wednesday, 2/21/2024
Income Expert and Author of Get Rich With Dividends Is Giving Away His Top Income Secrets… FOR FREE! (Ad)
Applied Materials stock is Ray Dalio's favorite in this new cycle
Palo Alto Networks aims at cyber security leadership
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
Spotify sounding better to analysts as company tunes into profits
3 Reasons the Capital One-Discover merger is a big deal
Elon Musk's "Project Dojo" is a Game-Changer (Ad)
How major US stock indexes fared Wednesday, 2/21/2024
Germany says Europe's largest economy is in 'troubled waters' and cuts its growth forecast

Targa Resources (TRGP) Stock Price, News & Analysis

$97.47
+1.11 (+1.15%)
(As of 02/21/2024 ET)
Today's Range
$96.70
$97.94
50-Day Range
$81.44
$97.47
52-Week Range
$64.85
$97.94
Volume
3.27 million shs
Average Volume
1.85 million shs
Market Capitalization
$21.75 billion
P/E Ratio
26.56
Dividend Yield
2.05%
Price Target
$105.00

Targa Resources MarketRank™ Stock Analysis

Analyst Rating
Buy
3.08 Rating Score
Upside/​Downside
8.8% Upside
$106.09 Price Target
Short Interest
Healthy
1.58% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.47mentions of Targa Resources in the last 14 days
Based on 28 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
16.95%
From $5.90 to $6.90 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.43 out of 5 stars

Oils/Energy Sector

110th out of 239 stocks

Natural Gas Transmission Industry

8th out of 19 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

TRGP Dec 2024 85.000 put
Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
Analyst Scoreboard: 4 Ratings For Targa Resources
Targa Resources Forecasts Rising Profits on 2024 Exports
Strange change at your bank
At least 41 major US banks have just made a drastic change to the way money in America works. It could have some major implications for you, your money and your retirement. But it’s crucial you understand what’s happening, before these changes get applied to your bank account.
Targa Resources Corp
TRGP Feb 2024 80.000 call
Targa (TRGP) Q4 Earnings and Revenues Miss Estimates
Q4 2023 Targa Resources Corp Earnings Call
TRGP Feb 2024 100.000 put
Targa Resources Corp. Announces Form 10-K Available
Targa Q4 Net Profit, Revenue Decline
Six Stocks Wall Street Loves for Valentine's Day
Targa Resources (TRGP) to Release Earnings on Thursday
See More Headlines
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Company Calendar

Last Earnings
5/06/2021
Ex-Dividend for 2/15 Dividend
1/30/2024
Dividend Payable
2/15/2024
Today
2/21/2024
Next Earnings (Estimated)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
3,182
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$106.09
High Stock Price Target
$115.00
Low Stock Price Target
$94.00
Potential Upside/Downside
+7.7%
Consensus Rating
Buy
Rating Score (0-4)
3.08
Research Coverage
12 Analysts

Profitability

Net Income
$828.20 million
Pretax Margin
12.10%

Debt

Sales & Book Value

Annual Sales
$16.06 billion
Cash Flow
$9.83 per share
Book Value
$20.66 per share

Miscellaneous

Free Float
220,053,000
Market Cap
$21.75 billion
Optionable
Optionable
Beta
2.18
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 Tuesday, February 20, 2024 at 4:21 PM.

Pros

Here are some ways that investors could benefit from investing in Targa Resources Corp.:

  • Targa Resources Corp. owns and operates a diverse portfolio of energy assets, providing stability and potential for growth in the energy sector.
  • The company has a strong track record of acquisitions and developments, expanding its presence in the market and increasing revenue streams.
  • Recent financial reports show positive net income growth, indicating a healthy financial performance and potential for shareholder returns.
  • Targa Resources Corp. has a fleet of transportation assets, including railcars, tractors, and trucks, enhancing its logistical capabilities and market reach.
  • The current stock price of Targa Resources Corp. is competitive, offering investors a potentially attractive entry point into the market.

Cons

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

  • Market volatility and regulatory changes in the energy sector could impact Targa Resources Corp.'s operations and financial performance.
  • Dependence on commodity prices, such as oil and natural gas, exposes Targa Resources Corp. to fluctuations in the market, affecting profitability.
  • Increased competition in the energy industry may pose challenges for Targa Resources Corp. in maintaining market share and pricing power.
  • Environmental concerns and regulations could impact Targa Resources Corp.'s operations and require additional investments in compliance measures.
  • Despite recent positive financial indicators, uncertainties in the global economy and energy markets could affect Targa Resources Corp.'s future performance.














TRGP Stock Analysis - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 11 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?

12 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 predict the company's stock price to reach $106.09 in the next year. This suggests a possible upside of 8.8% 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 2024?

Targa Resources' stock was trading at $86.87 at the beginning of the year. Since then, TRGP stock has increased by 12.2% and is now trading at $97.47.
View the best growth stocks for 2024 here
.

Are investors shorting Targa Resources?

Targa Resources saw a increase in short interest in the month of January. As of January 31st, there was short interest totaling 3,450,000 shares, an increase of 19.4% from the January 15th total of 2,890,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.6% of the shares of the company are short sold.
View Targa Resources' Short Interest
.

When is Targa Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 2nd 2024.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) released its quarterly earnings results on Thursday, May, 6th. The pipeline company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.38. The pipeline company earned $3.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Targa Resources had a net margin of 5.20% and a trailing twelve-month return on equity of 18.64%.

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

Targa Resources declared a quarterly dividend on Thursday, January 18th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.50 per share on Thursday, February 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, January 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 2.08%. 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 54.50%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 28.99% 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 many different retail and institutional investors. Top institutional investors include Vanguard Group Inc. (12.03%), Blackstone Inc. (4.23%), Goldman Sachs Group Inc. (1.64%), Kayne Anderson Capital Advisors LP (1.33%), Jennison Associates LLC (1.11%) and Chickasaw Capital Management LLC (1.10%). 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:TRGP) was last updated on 2/22/2024 by MarketBeat.com Staff