Targa Resources - TRGP Stock Forecast, Price & News

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

11 brokerages have issued 12 month target prices for Targa Resources' shares. Their TRGP share price forecasts range from $62.00 to $108.00. On average, they predict the company's share price to reach $86.00 in the next year. This suggests a possible upside of 19.4% from the stock's current price.
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Targa Resources' stock was trading at $52.24 on January 1st, 2022. Since then, TRGP stock has increased by 37.8% and is now trading at $72.00.
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Targa Resources saw a decrease in short interest during the month of October. As of October 31st, there was short interest totaling 5,660,000 shares, a decrease of 21.5% from the October 15th total of 7,210,000 shares. Based on an average daily volume of 2,470,000 shares, the short-interest ratio is presently 2.3 days. Currently, 2.6% of the shares of the stock are sold short.
View Targa Resources' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, February 23rd 2023.
View our TRGP earnings forecast.

Targa Resources Corp. (NYSE:TRGP) released its quarterly earnings data 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 the consensus estimate of $2.62 billion. Targa Resources had a trailing twelve-month return on equity of 21.02% and a net margin of 2.34%.

Targa Resources declared 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 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, October 28th.
Read our dividend analysis for TRGP.

Targa Resources (NYSE:TRGP) pays an annual dividend of $1.40 per share and currently has a dividend yield of 1.86%. 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.

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 investors 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.

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 $72.00.

Targa Resources (NYSE:TRGP) has a market capitalization of $16.30 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.

The company employs 2,430 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.