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Targa Resources Corp TRGP Stock Quote

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Last close prices updated as of Jun 02, 2023, 4:10 PM EST | USD | BATS BZX Real-Time Price
  • Last Close 71.49
  • Sector Energy
  • Industry Oil & Gas Midstream
  • Investment Style Mid Blend
  • Day Range 69.62  –  72.11
  • Year Range 55.56  –  80.40
  • Market Cap 16.1581 Bil
  • Volume / Avg 2.4 Mil /  1.6 Mil
  • Price / Sales 0.77
  • Price / Book 6.10
  • Forward Div Yield 2.91%
  • Trailing Div Yield 2.17%

Morningstar‘s Stock Analysis TRGP

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5-Star Price


Economic Moat


Capital Allocation


Targa Earnings: Unexpected LPG Strength Offsets G&P Weakness

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Targa’s first-quarter results were boosted, in our view, by unexpected LPG strength, which helped offset weakness elsewhere. The firm reiterated 2023 EBITDA guidance at a midpoint of $3.6 billion, with our forecast at $3.65 billion, despite commodity prices being lower than their embedded assumptions. While Targa is maintaining its 2023 EBITDA guidance, it typically only hedges one year out. This position means that while it still may be able to offset lower oil and gas prices in 2023, 2024 results may be more materially impacted as it resets its hedging position. We expect to maintain our $72 per share fair value estimate and no-moat rating.

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Key Statistics TRGP

Company Profile TRGP

Business Description

Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has 843,000 barrels a day of gross fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline recently entered full service.

811 Louisiana Street, Suite 2100
Houston, TX, 77002
Sector Energy
Industry Oil & Gas Midstream
Employees 1,350

Related Articles TRGP

Morningstar analysts hand-select direct competitors or comparable companies to provide context on the strength and durability of TRGP’s competitive advantage.

Targa Resources Corp


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Energy Transfer LP


MPLX LP Partnership Units

+$2.69 (3.91%) +$0.30 (2.28%) +$0.28 (2.22%) +$0.39 (1.17%)
Market Cap
16.16 Bil9.40 Bil40.46 Bil33.76 Bil
Oil & Gas Midstream Oil & Gas Midstream Oil & Gas Midstream Oil & Gas Midstream

* Trading data in this section is delayed by at least 15 minutes.

FAQs for Targa Resources Corp Stock

Yes. TRGP has a forward dividend yield of 2.91%. See TRGP’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

TRGP’s market cap is 16.16 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

TRGP’s stock style is Mid Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Learn more about style.

TRGP’s price/sales is 0.77.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

TRGP’s price/forward earnings is 17.82.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

TRGP’s price/book is 6.10.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

See TRGP’s valuation ratios compared to the Market Index.

TRGP’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare TRGP’s historical performance against its industry peers and the overall market.