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Targa Resources - TRGP Stock Forecast, Price & News

$67.51
+0.51 (+0.76%)
(As of 08/10/2022 03:59 PM ET)
Add
Compare
Today's Range
$66.58
$67.91
50-Day Range
$56.28
$80.38
52-Week Range
$40.52
$81.50
Volume
36,548 shs
Average Volume
1.91 million shs
Market Capitalization
$15.29 billion
P/E Ratio
76.72
Dividend Yield
2.15%
Price Target
$81.91

Targa Resources MarketRank™ Forecast

Analyst Rating
Buy
3.09 Rating Score
Upside/​Downside
22.2% Upside
$81.91 Price Target
Short Interest
Healthy
1.73% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.99mentions of Targa Resources in the last 14 days
Based on 16 Articles This Week
Insider Trading
Selling Shares
$1.69 M Sold Last Quarter
Proj. Earnings Growth
89.20%
From $3.24 to $6.13 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.76 out of 5 stars

Oils/Energy Sector

54th out of 259 stocks

Natural Gas Transmission Industry

3rd out of 19 stocks

TRGP stock logo

About Targa Resources (NYSE:TRGP) Stock

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy 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. The company operates approximately 28,400 miles of natural gas pipelines, including 42 owned and operated processing plants; and owns or operates a total of 34 storage wells with a gross storage capacity of approximately 76 million barrels. As of December 31, 2021, it leased and managed approximately 648 railcars; 119 transport tractors; and two company-owned pressurized NGL barges. The company was incorporated in 2005 and is headquartered in Houston, Texas.

Targa Resources Stock Performance

Shares of NYSE:TRGP traded up $2.00 during mid-day trading on Tuesday, hitting $67.00. The company had a trading volume of 1,547,009 shares, compared to its average volume of 1,910,487. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.69 and a quick ratio of 0.62. The business's 50-day simple moving average is $64.71 and its 200-day simple moving average is $67.75. Targa Resources has a 12 month low of $40.52 and a 12 month high of $81.50. The firm has a market cap of $15.18 billion, a P/E ratio of 76.14 and a beta of 2.47.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, July 28th. Targa Resources's dividend payout ratio is 159.09%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TRGP shares. Wells Fargo & Company reduced their target price on Targa Resources to $83.00 and set an "overweight" rating for the company in a report on Friday, May 20th. Morgan Stanley increased their price objective on Targa Resources from $103.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 20th. Mizuho increased their price objective on Targa Resources from $87.00 to $91.00 and gave the stock a "buy" rating in a report on Tuesday. Barclays lowered their target price on shares of Targa Resources from $92.00 to $87.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 20th. Finally, StockNews.com downgraded shares of Targa Resources from a "buy" rating to a "hold" rating in a research report on Thursday, May 19th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $81.91.

Insiders Place Their Bets

In other Targa Resources news, Director Paul W. Chung sold 3,568 shares of the firm's stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $73.34, for a total transaction of $261,677.12. Following the completion of the transaction, the director now owns 240,641 shares in the company, valued at $17,648,610.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $71.33, for a total value of $1,426,600.00. Following the completion of the transaction, the insider now owns 81,233 shares in the company, valued at $5,794,349.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul W. Chung sold 3,568 shares of Targa Resources stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $73.34, for a total transaction of $261,677.12. Following the completion of the transaction, the director now owns 240,641 shares of the company's stock, valued at approximately $17,648,610.94. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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TRGP Stock News Headlines

These Stocks Will Benefit From A Stronger Dollar (TRGP)
Inflation is unlikely to come down anytime soon, and the U.S. dollar is seen as a currency with the least risk among large developed countries, which is likely to result in the dollar heading higher for the foreseeable future..
Targa Resources (NYSE:TRGP) PT Raised to $91.00 at Mizuho
6 Analysts Have This to Say About Targa Resources
See More Headlines
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TRGP Company Calendar

Last Earnings
5/06/2021
Dividend Payable
5/16/2022
Ex-Dividend for 8/15 Dividend
7/28/2022
Today
8/10/2022
Dividend Payable
8/15/2022
Next Earnings (Estimated)
11/03/2022
Fiscal Year End
12/31/2022
Ex-Dividend for 5/16 Dividend
1/01/2100

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
2,430
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$81.91
High Stock Price Forecast
$105.00
Low Stock Price Forecast
$62.00
Forecasted Upside/Downside
+21.3%
Consensus Rating
Buy
Rating Score (0-4)
3.09
Research Coverage
11 Analysts

Profitability

Net Income
$71.20 million
Pretax Margin
4.77%

Debt

Sales & Book Value

Annual Sales
$16.95 billion
Cash Flow
$6.50 per share
Book Value
$22.62 per share

Miscellaneous

Free Float
224,065,000
Market Cap
$15.29 billion
Optionable
Optionable
Beta
2.47














TRGP Stock - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

11 Wall Street research 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 research analysts is that investors should "buy" TRGP shares.
View TRGP analyst ratings
or view top-rated stocks.

What is Targa Resources' stock price forecast for 2022?

11 equities research analysts have issued 1 year target prices for Targa Resources' stock. Their TRGP share price forecasts range from $62.00 to $105.00. On average, they expect the company's share price to reach $81.91 in the next twelve months. This suggests a possible upside of 20.7% 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 2022?

Targa Resources' stock was trading at $52.24 at the start of the year. Since then, TRGP stock has increased by 29.9% and is now trading at $67.88.
View the best growth stocks for 2022 here
.

When is Targa Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) announced its earnings results on Thursday, May, 6th. The pipeline company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.38. The pipeline company earned $3.63 billion during the quarter, compared to analysts' expectations of $2.62 billion. Targa Resources had a trailing twelve-month return on equity of 20.05% and a net margin of 2.39%.

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

Targa Resources declared a quarterly dividend on Thursday, July 14th. Investors of record on Friday, July 29th will be paid a dividend of $0.35 per share on Monday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, July 28th.
Read our dividend analysis for TRGP
.

Is Targa Resources a good dividend stock?

Targa Resources (NYSE:TRGP) pays an annual dividend of $1.40 per share and currently has a dividend yield of 2.15%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 159.09%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, TRGP will have a dividend payout ratio of 22.84% 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?

What is Targa Resources' stock symbol?

Targa Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "TRGP."

Who are Targa Resources' major shareholders?

Targa Resources' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Kayne Anderson Capital Advisors LP (1.92%), Jennison Associates LLC (1.65%), Chickasaw Capital Management LLC (1.50%), Mitsubishi UFJ Trust & Banking Corp (0.86%), CIBC Private Wealth Group LLC (0.60%) and Swiss National Bank (0.42%). Insiders that own company stock include 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.

What is Targa Resources' stock price today?

One share of TRGP stock can currently be purchased for approximately $67.88.

How much money does Targa Resources make?

Targa Resources (NYSE:TRGP) has a market capitalization of $15.38 billion and generates $16.95 billion in revenue each year. The pipeline company earns $71.20 million in net income (profit) each year or $0.88 on an earnings per share basis.

How many employees does Targa Resources have?

The company employs 2,430 workers across the globe.

How can I contact Targa Resources?

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.

This page (NYSE:TRGP) was last updated on 8/10/2022 by MarketBeat.com Staff

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