Targa Resources - TRGP Stock Forecast, Price & News

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.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRGP. Barclays lowered their target price on Targa Resources from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, July 20th. StockNews.com lowered shares of Targa Resources from a "buy" rating to a "hold" rating in a research note on Thursday, May 19th. Raymond James boosted their price target on shares of Targa Resources from $80.00 to $92.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 20th. Morgan Stanley raised their price objective on shares of Targa Resources from $103.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 20th. Finally, Royal Bank of Canada lifted their price objective on Targa Resources from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $81.91.

Targa Resources Stock Performance

TRGP opened at $69.53 on Monday. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 79.01 and a beta of 2.46. Targa Resources has a 1 year low of $40.52 and a 1 year high of $81.50. The business's 50-day moving average price is $64.28 and its two-hundred day moving average price is $68.09. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.69 and a quick ratio of 0.62.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, July 28th. This represents a $1.40 annualized dividend and a yield of 2.01%. Targa Resources's dividend payout ratio is 159.09%.

Insider Buying and Selling

In related news, insider Regina Gregory sold 6,494 shares of the firm's stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $67.39, for a total transaction of $437,630.66. Following the sale, the insider now owns 55,592 shares of the company's stock, valued at approximately $3,746,344.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider D. Scott Pryor sold 20,000 shares of Targa Resources stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $71.33, for a total transaction of $1,426,600.00. Following the transaction, the insider now owns 81,233 shares of the company's stock, valued at $5,794,349.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Regina Gregory sold 6,494 shares of Targa Resources stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $67.39, for a total transaction of $437,630.66. Following the transaction, the insider now directly owns 55,592 shares in the company, valued at approximately $3,746,344.88. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.