Targa Resources - TRGP Stock Forecast, Price & News

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.
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12 brokerages 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 predict the company's share price to reach $82.83 in the next year. This suggests a possible upside of 38.6% from the stock's current price.
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Targa Resources' stock was trading at $52.24 at the beginning of the year. Since then, TRGP stock has increased by 14.4% and is now trading at $59.75.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our TRGP earnings forecast.

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

Targa Resources declared a quarterly dividend on Thursday, July 14th. Stockholders of record on Friday, July 29th will be given a dividend of $0.35 per share on Monday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, July 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 2.14%. 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.

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 shareholders include Tortoise Capital Advisors L.L.C. (3.95%), State Street Corp (3.91%), Goldman Sachs Group Inc. (2.66%), Kayne Anderson Capital Advisors LP (1.92%), Jennison Associates LLC (1.65%) and Chickasaw Capital Management LLC (1.50%). 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 $59.75.

Targa Resources (NYSE:TRGP) has a market capitalization of $13.54 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.

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.