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NYSE:TRGP

Targa Resources - TRGP Stock Forecast, Price & News

$60.34

-0.46 (-0.76%)

(As of 09/30/2022 12:00 AM ET)

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Today's Range: $59.66
▼
$61.62
50-Day Range: $57.28
▼
$72.72
52-Week Range: $47.57
▼
$81.50

Volume: 2.36 million shs
Average Volume: 1.74 million shs
Market Capitalization: $13.67 billion

P/E Ratio: 68.57
Dividend Yield: 2.30%
Price Target: $82.83

Targa Resources MarketRank™ Forecast

Analyst Rating: Buy
3.08 Rating Score
Upside/Downside: 37.3% Upside
$82.83 Price Target
Short Interest: Healthy
1.78% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -7.39
Upright™ Environmental Score
News Sentiment: 0.97
Based on 3 Articles This Week
Insider Trading: Selling Shares
$437,631 Sold Last Quarter
Proj. Earnings Growth: 33.98%
From $4.62 to $6.19 Per Share

Overall MarketRank^™

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

2.86 out of 5 stars

Oils/Energy Sector

30th out of 260 stocks

Natural Gas Transmission Industry

3rd out of 20 stocks

4.5

Analyst's Opinion

Consensus Rating
Targa Resources has received a consensus rating of Buy. The company's average rating score is 3.08, and is based on 11 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $82.83, Targa Resources has a forecasted upside of 37.3% from its current price of $60.34.
Amount of Analyst Coverage
Targa Resources has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
1.78% of the float of Targa Resources has been sold short.
Short Interest Ratio / Days to Cover
Targa Resources has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Targa Resources has recently increased by 6.76%, indicating that investor sentiment is decreasing significantly.

1.7

Dividend Strength

Dividend Yield
Targa Resources pays a meaningful dividend of 2.30%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Targa Resources has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Targa Resources is 159.09%. Payout ratios above 75% are not desirable because they may not be sustainable.
Dividend Sustainability
Based on earnings estimates, Targa Resources will have a dividend payout ratio of 22.62% next year. This indicates that Targa Resources will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Targa Resources has received a -98.19% net impact score from Upright. The largest negative impact of Targa Resources in category "GHG emissions" seems to be driven mostly by its "LNG pipes", "Natural gas pipes", and "LNG terminals" products. See details.
Environmental Sustainability
The Environmental Impact score for Targa Resources is -7.39.

2.8

News and Social Media Coverage

News Sentiment
Targa Resources has a news sentiment score of 0.97. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.43 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 3 news articles for Targa Resources this week, compared to 3 articles on an average week.
Search Interest
Only 6 people have searched for TRGP on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
MarketBeat Follows
14 people have added Targa Resources to their MarketBeat watchlist in the last 30 days. This is an increase of 250% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Targa Resources insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $437,631.00 in company stock.
Percentage Held by Insiders
Only 1.10% of the stock of Targa Resources is held by insiders.
Percentage Held by Institutions
87.45% of the stock of Targa Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for Targa Resources are expected to grow by 33.98% in the coming year, from $4.62 to $6.19 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Targa Resources is 68.57, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 123.95.
Price to Earnings Ratio vs. Sector
The P/E ratio of Targa Resources is 68.57, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 43.36.
Price to Book Value per Share Ratio
Targa Resources has a P/B Ratio of 2.67. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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

September 26, 2022 | marketbeat.com

Should These 3 Top-Performing Mid-Caps Be On Your Watchlist?

The three biggest stocks within the S&P 400 are outpacing their index. While the market corrects, it's a good time to build a watchlist of solid performers.

September 25, 2022 | marketbeat.com

Should These 3 Top-Performing Mid-Caps Be On Your Watchlist? (TRGP)

The three biggest stocks within the S&P 400 are outpacing their index. While the market corrects, it's a good time to build a watchlist of solid performers.

September 21, 2022 | thestreet.com

Targa Resources Partners (NGLS) Stock Gains on Targa Resources Corp. Deal

September 18, 2022 | finance.yahoo.com

Does Targa Resources (NYSE:TRGP) Deserve A Spot On Your Watchlist?

September 7, 2022 | finance.yahoo.com

Fast-paced Momentum Stock Targa Resources, Inc. (TRGP) Is Still Trading at a Bargain

September 4, 2022 | finance.yahoo.com

Targa Resources Corp. (NYSE:TRGP) is largely controlled by institutional shareholders who own 88% of the company

September 2, 2022 | nasdaq.com

Notable ETF Inflow Detected - MDY, TRGP, CSL, STLD

August 29, 2022 | finance.yahoo.com

How Much Upside is Left in Targa Resources, Inc. (TRGP)? Wall Street Analysts Think 26%

August 28, 2022 | marketwatch.com

Targa Resources Up 34.6% Since SmarTrend Uptrend Call (TRGP)

August 26, 2022 | seekingalpha.com

Targa Resources: Impressive Q2 Earnings Plus Growth Prospects

August 20, 2022 | finance.yahoo.com

Based On Its ROE, Is Targa Resources Corp. (NYSE:TRGP) A High Quality Stock?

August 19, 2022 | msn.com

Ominous Death Cross Forms On Targa Resources's Chart

August 12, 2022 | finance.yahoo.com

Targa Resources, Inc. (TRGP) Is Attractively Priced Despite Fast-paced Momentum

August 12, 2022 | marketwatch.com

Targa Resources Up 31.6% Since SmarTrend Uptrend Call (TRGP)

August 10, 2022 | nasdaq.com

News Flash: Analysts Just Made A Meaningful Upgrade To Their Targa Resources Corp. (NYSE:TRGP) Forecasts

August 9, 2022 | finance.yahoo.com

Wall Street Analysts Think Targa Resources, Inc. (TRGP) Could Surge 35%: Read This Before Placing a Bet

August 6, 2022 | finance.yahoo.com

Targa Resources Corp.'s (NYSE:TRGP) Price In Tune With Earnings

August 5, 2022 | nasdaq.com

An Intrinsic Calculation For Targa Resources Corp. (NYSE:TRGP) Suggests It's 26% Undervalued

August 4, 2022 | seekingalpha.com

Targa Resources Corp (TRGP) CEO Matt Meloy on Q2 2022 Results - Earnings Call Transcript

August 4, 2022 | seekingalpha.com

Targa Resources reports Q2 results; raises FY22 adjusted EBITDA guidance

August 4, 2022 | finance.yahoo.com

Targa Resources Corp. Reports Second Quarter 2022 Financial Results and Increases Full Year 2022 Financial Outlook

July 29, 2022 | finance.yahoo.com

Targa Resources Corp. Completes Acquisition of Lucid Energy

July 28, 2022 | nasdaq.com

Cash Dividend On The Way From Targa Resources (TRGP)

July 21, 2022 | finance.yahoo.com

Targa Resources, Inc. (TRGP) Just Reclaimed the 200-Day Moving Average

July 21, 2022 | finance.yahoo.com

Wall Street Analysts See a 36% Upside in Targa Resources, Inc. (TRGP): Can the Stock Really Move This High?

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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TRGP Company Calendar

Last Earnings: 5/06/2021
Ex-Dividend for 8/15 Dividend: 7/28/2022
Dividend Payable: 8/15/2022
Today: 10/02/2022
Next Earnings (Estimated): 11/03/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Natural gas transmission
Sub-Industry: Oil & Gas Storage & Transportation
Sector: Oils/Energy
Current Symbol: NYSE:TRGP
CUSIP: 87612G10
CIK: 1389170
Web: www.targaresources.com
Phone: (713) 584-1000
Fax: 713-584-1100
Employees: 2,430
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $82.83
High Stock Price Forecast: $105.00
Low Stock Price Forecast: $62.00
Forecasted Upside/Downside: +37.3%
Consensus Rating: Buy
Rating Score (0-4): 3.08
Research Coverage: 12 Analysts

Profitability

EPS (Most Recent Fiscal Year): $0.88
Trailing P/E Ratio: 68.57
Forward P/E Ratio: 13.06
P/E Growth: N/A
Net Income: $71.20 million
Net Margins: 2.39%
Pretax Margin: 4.77%
Return on Equity: 20.05%
Return on Assets: 6.16%

Debt

Debt-to-Equity Ratio: 1.60
Current Ratio: 0.69
Quick Ratio: 0.62

Sales & Book Value

Annual Sales: $16.95 billion
Price / Sales: 0.81
Cash Flow: $6.09 per share
Price / Cash Flow: 9.91
Book Value: $22.62 per share
Price / Book: 2.67

Miscellaneous

Outstanding Shares: 226,560,000
Free Float: 224,065,000
Market Cap: $13.67 billion
Optionable: Optionable
Beta: 2.43

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 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 White (Age 62)
Exec. VP of Operations

Ms. 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

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

TRGP Stock - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?: 12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 11 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?: 12 brokers have issued 12-month price objectives for Targa Resources' stock. Their TRGP share price forecasts range from $62.00 to $105.00. On average, they predict the company's stock price to reach $82.83 in the next twelve months. This suggests a possible upside of 37.3% 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 on January 1st, 2022. Since then, TRGP shares have increased by 15.5% and is now trading at $60.34.
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) posted its quarterly earnings data on Thursday, May, 6th. The pipeline company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.15 by $0.38. The pipeline company had revenue of $3.63 billion for the quarter, compared to the consensus estimate 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 announced a quarterly dividend on Thursday, July 14th. Stockholders 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 yield of 2.32%. 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 2.30%. 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 22.62% 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?: 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).
What is Targa Resources' stock symbol?: Targa Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "TRGP."
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 $60.34.
How much money does Targa Resources make?: Targa Resources (NYSE:TRGP) has a market capitalization of $13.67 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 10/2/2022 by MarketBeat.com Staff

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Targa Resources - TRGP Stock Forecast, Price & News

Targa Resources MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows