Targa Resources (TRGP) Stock Forecast, Price & News

11 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 10 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.

11 analysts have issued 1-year target prices for Targa Resources' stock. Their TRGP share price forecasts range from $89.00 to $115.00. On average, they predict the company's stock price to reach $102.80 in the next year. This suggests a possible upside of 19.9% from the stock's current price.
View analysts price targets for TRGP or view top-rated stocks among Wall Street analysts.

Targa Resources' stock was trading at $73.50 on January 1st, 2023. Since then, TRGP stock has increased by 16.7% and is now trading at $85.77.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023.
View our TRGP earnings forecast.

Targa Resources Corp. (NYSE:TRGP) issued its earnings results on Thursday, August, 3rd. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. The pipeline company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $4.56 billion. Targa Resources had a net margin of 4.75% and a trailing twelve-month return on equity of 18.14%.

Targa Resources declared a quarterly dividend on Thursday, July 13th. Stockholders of record on Monday, July 31st will be given a dividend of $0.50 per share on Tuesday, August 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, July 28th.
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).

Targa Resources (NYSE:TRGP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.37%. 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 54.20%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 27.51% 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 institutional and retail investors. Top institutional shareholders include BlackRock Inc. (8.41%), State Street Corp (6.61%), Geode Capital Management LLC (2.14%), Kayne Anderson Capital Advisors LP (1.45%), Zimmer Partners LP (1.41%) and Chickasaw Capital Management LLC (1.19%). 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.

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 $85.77.

Targa Resources (NYSE:TRGP) has a market capitalization of $19.19 billion and generates $20.93 billion in revenue each year. The pipeline company earns $1.14 billion in net income (profit) each year or $3.69 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.