Targa Resources - TRGP Stock Forecast, Price & News

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 12 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" TRGP shares.
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13 equities research analysts have issued twelve-month target prices for Targa Resources' shares. Their TRGP share price forecasts range from $87.00 to $115.00. On average, they predict the company's stock price to reach $97.91 in the next twelve months. This suggests a possible upside of 37.6% 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 shares have decreased by 3.2% and is now trading at $71.16.
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Targa Resources saw a drop in short interest during the month of March. As of March 15th, there was short interest totaling 3,800,000 shares, a drop of 15.6% from the February 28th total of 4,500,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.7% of the shares of the stock are short sold.
View Targa Resources' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 4th 2023.
View our TRGP earnings forecast.

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 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 net margin of 5.46% and a trailing twelve-month return on equity of 25.20%.

Targa Resources announced a quarterly dividend on Thursday, January 19th. Investors of record on Tuesday, January 31st will be paid a dividend of $0.35 per share on Wednesday, February 15th. This represents a $1.40 annualized dividend and a yield of 1.97%. The ex-dividend date is Monday, January 30th.
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), VanEck Energy Income ETF (EINC), First Trust Energy AlphaDEX Fund (FXN), Global X MLP & Energy Infrastructure ETF (MLPX), Pacer American Energy Independence ETF (USAI), 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 $1.40 per share and currently has a dividend yield of 2.00%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 35.99%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 19.44% 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 retail and institutional investors. Top institutional shareholders include Moneta Group Investment Advisors LLC (11.15%), Tortoise Capital Advisors L.L.C. (3.78%), Geode Capital Management LLC (2.03%), Neuberger Berman Group LLC (1.87%), Kayne Anderson Capital Advisors LP (1.76%) and Morgan Stanley (1.37%). 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.
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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 $71.16.

Targa Resources (NYSE:TRGP) has a market capitalization of $16.13 billion and generates $20.93 billion in revenue each year. The pipeline company earns $1.14 billion in net income (profit) each year or $3.89 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.