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NYSE:TRGP

Targa Resources - TRGP Stock Forecast, Price & News

$72.29
-1.02 (-1.39%)
(As of 11/28/2022 12:00 AM ET)
Add
Compare
Today's Range
$70.89
$73.15
50-Day Range
$57.28
$74.19
52-Week Range
$47.57
$81.50
Volume
1.06 million shs
Average Volume
2.04 million shs
Market Capitalization
$16.36 billion
P/E Ratio
68.20
Dividend Yield
1.91%
Price Target
$84.91

Targa Resources MarketRank™ Forecast

Analyst Rating
Buy
3.10 Rating Score
Upside/​Downside
17.5% Upside
$84.91 Price Target
Short Interest
Healthy
2.63% of Float Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
N/A
Insider Trading
Selling Shares
$4.38 M Sold Last Quarter
Proj. Earnings Growth
24.89%
From $4.58 to $5.72 Per Share

Overall MarketRank

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

1.99 out of 5 stars

Oils/Energy Sector

127th out of 245 stocks

Natural Gas Transmission Industry

8th out of 17 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.

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TRGP Stock News Headlines

TRGP Targa Resources Corp.
Targa Resources To Replace Nielsen In S&P 500
See More Headlines
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TRGP Company Calendar

Last Earnings
5/06/2021
Ex-Dividend for 11/15 Dividend
10/28/2022
Dividend Payable
11/15/2022
Today
11/28/2022
Fiscal Year End
12/31/2022
Next Earnings (Estimated)
2/23/2023

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
$84.91
High Stock Price Forecast
$108.00
Low Stock Price Forecast
$62.00
Forecasted Upside/Downside
+17.5%
Consensus Rating
Buy
Rating Score (0-4)
3.10
Research Coverage
10 Analysts

Profitability

Net Income
$71.20 million
Pretax Margin
4.58%

Debt

Sales & Book Value

Annual Sales
$16.95 billion
Cash Flow
$6.05 per share
Book Value
$22.62 per share

Miscellaneous

Free Float
223,885,000
Market Cap
$16.36 billion
Optionable
Optionable
Beta
2.36

Key Executives

  • Mr. Matthew J. Meloy (Age 44)
    CEO & Director
    Comp: $4.4M
  • Ms. Jennifer R. Kneale (Age 43)
    Chief Financial Officer
    Comp: $1.75M
  • Mr. D. Scott PryorMr. D. Scott Pryor (Age 59)
    Pres of Logistics & Transportation
    Comp: $1.6M
  • Mr. Patrick J. McDonie (Age 61)
    Pres of Gathering & Processing
    Comp: $1.6M
  • Mr. Robert M. Muraro (Age 45)
    Chief Commercial Officer
    Comp: $1.6M
  • Mr. G. Clark WhiteMr. G. Clark White (Age 62)
    Exec. VP of Operations
  • Ms. Julie H. BoushkaMs. Julie H. Boushka (Age 59)
    Sr. VP & Chief Accounting Officer
  • Mr. Sanjay Lad
    VP of Fin. & Investor Relations
  • Ms. Regina L. Gregory (Age 51)
    Exec. VP, Gen. Counsel & Sec.
  • Mr. Denny Latham
    Exec. VP of Permian & Gen. Partner













TRGP Stock - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last twelve months. There are currently 9 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 2023?

10 brokers have issued 1 year price objectives for Targa Resources' stock. Their TRGP share price forecasts range from $62.00 to $108.00. On average, they expect the company's share price to reach $84.91 in the next twelve months. This suggests a possible upside of 15.8% 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 2022?

Targa Resources' stock was trading at $52.24 at the start of the year. Since then, TRGP stock has increased by 40.3% and is now trading at $73.31.
View the best growth stocks for 2022 here
.

Are investors shorting Targa Resources?

Targa Resources saw a decline in short interest during the month of October. As of October 31st, there was short interest totaling 5,660,000 shares, a decline of 21.5% from the October 15th total of 7,210,000 shares. Based on an average trading volume of 2,470,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 2.6% of the shares of the stock 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, February 23rd 2023.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) issued its 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 analysts' expectations of $2.62 billion. Targa Resources had a net margin of 2.34% and a trailing twelve-month return on equity of 21.02%.

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

Targa Resources announced a quarterly dividend on Thursday, October 13th. Investors of record on Monday, October 31st will be given a dividend of $0.35 per share on Tuesday, November 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 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 1.91%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 132.08%. 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 24.48% 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 number of retail and institutional investors. Top institutional shareholders include BlackRock Inc. (10.73%), Vanguard Group Inc. (9.97%), Blackstone Inc. (4.42%), Tortoise Capital Advisors L.L.C. (3.92%), State Street Corp (3.91%) and Neuberger Berman Group LLC (1.94%). 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 $73.31.

How much money does Targa Resources make?

Targa Resources (NYSE:TRGP) has a market capitalization of $16.60 billion and generates $16.95 billion in revenue each year. The pipeline company earns $71.20 million in net income (profit) each year or $1.06 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 11/28/2022 by MarketBeat.com Staff