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Targa Resources (TRGP) Stock Forecast, Price & News

$70.93
-0.56 (-0.78%)
(As of 06/5/2023 ET)
Compare
Today's Range
$70.55
$72.67
50-Day Range
$68.05
$77.91
52-Week Range
$55.56
$80.40
Volume
1.40 million shs
Average Volume
1.60 million shs
Market Capitalization
$16.03 billion
P/E Ratio
18.38
Dividend Yield
2.82%
Price Target
$100.27

Targa Resources MarketRank™ Forecast

Analyst Rating
Buy
3.07 Rating Score
Upside/​Downside
41.7% Upside
$100.27 Price Target
Short Interest
Healthy
1.50% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-7.39
Upright™ Environmental Score
News Sentiment
0.58mentions of Targa Resources in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
34.18%
From $5.53 to $7.42 Per Share

Overall MarketRank

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

2.60 out of 5 stars

Oils/Energy Sector

83rd out of 248 stocks

Natural Gas Transmission Industry

6th out of 18 stocks


TRGP stock logo

About Targa Resources (NYSE:TRGP) Stock

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities, and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value-added services such as the storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters, and the storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005, and is headquartered in Houston, TX.

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TRGP Stock News Headlines

"Unknown laser company making HUGE profit from Russia-Ukraine War"
On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>
66,000% upside on tiny biotech?
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
Q1 2023 Targa Resources Corp Earnings Call
See More Headlines

TRGP Price History

TRGP Company Calendar

Last Earnings
5/06/2021
Ex-Dividend for 5/15 Dividend
4/27/2023
Dividend Payable
5/15/2023
Today
6/05/2023
Next Earnings (Estimated)
8/03/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Natural gas transmission
Sub-Industry
Oil & Gas Storage & Transportation
CUSIP
87612G10
Employees
2,850
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$100.27
High Stock Price Forecast
$115.00
Low Stock Price Forecast
$92.00
Forecasted Upside/Downside
+39.7%
Consensus Rating
Buy
Rating Score (0-4)
3.07
Research Coverage
14 Analysts

Profitability

Net Income
$1.14 billion
Pretax Margin
10.43%

Debt

Sales & Book Value

Annual Sales
$20.93 billion
Cash Flow
$10.21 per share
Book Value
$22.01 per share

Miscellaneous

Free Float
222,877,000
Market Cap
$16.23 billion
Optionable
Optionable
Beta
2.29

Key Executives

  • Matthew J. Meloy
    President, Chief Executive Officer & Director
  • G. Clark WhiteG. Clark White
    Executive Vice President-Operations
  • Jennifer R. Kneale
    Chief Financial Officer & Vice President
  • Regina L. Gregory
    Secretary, General Counsel & Executive VP
  • John R. Klein
    Senior Vice President













TRGP Stock - Frequently Asked Questions

Should I buy or sell Targa Resources stock right now?

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last year. There are currently 13 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.

What is Targa Resources' stock price forecast for 2023?

14 Wall Street research analysts have issued twelve-month price objectives for Targa Resources' shares. Their TRGP share price forecasts range from $92.00 to $115.00. On average, they expect the company's stock price to reach $100.27 in the next year. This suggests a possible upside of 39.7% 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 2023?

Targa Resources' stock was trading at $73.50 at the start of the year. Since then, TRGP stock has decreased by 2.3% and is now trading at $71.80.
View the best growth stocks for 2023 here
.

When is Targa Resources' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our TRGP earnings forecast
.

How were Targa Resources' earnings last quarter?

Targa Resources Corp. (NYSE:TRGP) announced its quarterly earnings results on Thursday, May, 6th. The pipeline company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates 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 24.05% and a net margin of 5.43%.

How often does Targa Resources pay dividends? What is the dividend yield for Targa Resources?

Targa Resources announced a quarterly dividend on Thursday, April 13th. Stockholders of record on Friday, April 28th will be given a dividend of $0.50 per share on Monday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, April 27th. This is an increase from the stock's previous quarterly dividend of $0.35.
Read our dividend analysis for TRGP
.

Is Targa Resources a good dividend stock?

Targa Resources (NYSE:TRGP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.80%. The company has been increasing its dividend for 2 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 51.81%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TRGP will have a dividend payout ratio of 26.95% 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?
What is Targa Resources' stock symbol?

Targa Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "TRGP."

Who are Targa Resources' major shareholders?

Targa Resources' stock is owned by a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (8.30%), State Street Corp (6.76%), Tortoise Capital Advisors L.L.C. (3.63%), Wellington Management Group LLP (3.20%), Geode Capital Management LLC (2.07%) and Kayne Anderson Capital Advisors LP (1.48%). 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
.

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 $71.80.

How much money does Targa Resources make?

Targa Resources (NYSE:TRGP) has a market capitalization of $16.23 billion and generates $20.93 billion in revenue each year. The pipeline company earns $1.14 billion in net income (profit) each year or $3.86 on an earnings per share basis.

How many employees does Targa Resources have?

The company employs 2,850 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 6/5/2023 by MarketBeat.com Staff

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