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Targa Resources Corp TRGP Stock Quote

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Morningstar‘s Stock Analysis TRGP

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Capital Allocation


Targa Benefits From Higher Volumes in Q3 Due to Recent Lucid Deal

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Targa’s third-quarter results met our expectations, and the firm reaffirmed a midpoint of 2022 EBITDA at $2.9 billion. However, with natural gas liquids prices well below the firm’s assumptions underlying its guidance during the quarter, we’ve trimmed our 2023 estimates downward to account for lower spreads and fees. We now expect $3.2 billion in 2023 EBITDA compared with earlier forecasts of $3.3 billion. We continue to believe that Targa remains more exposed to volatility in hydrocarbon prices than peers within our North American midstream coverage universe. Despite the lower estimates, we are maintaining our $64-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 840,000 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 2,430

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FAQs for Targa Resources Corp Stock

No. TRGP does not currently have a forward dividend yield.
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.

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TRGP’s market cap is 15.45 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.

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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.

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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.