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. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company 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, purchasing, storing, terminaling, and selling crude oil. It 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, the company 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. It operates approximately 28,700 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 75 million barrels. As of December 31, 2020, the company leased and managed approximately 694 railcars; 124 transport tractors; and 2 company-owned pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
IPO Year: 2010
Exchange: NYSE
Website: targaresources.com
Date | Price Target | Rating | Analyst |
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10/6/2023 | $101.00 | Buy | Goldman |
3/2/2023 | $115.00 | Sector Outperform | Scotiabank |
12/9/2022 | $95.00 | Buy | Citigroup |
9/8/2022 | $93.00 | Buy | Goldman |
5/2/2022 | $78.00 | Buy | Truist |
3/18/2022 | $58.00 → $85.00 | Neutral → Buy | Mizuho |
2/25/2022 | $70.00 → $80.00 | Strong Buy | Raymond James |
2/7/2022 | $62.00 | In-line → Outperform | Evercore ISI |
1/24/2022 | $67.00 → $70.00 | Strong Buy | Raymond James |
1/20/2022 | $66.00 → $72.00 | Overweight | Barclays |
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Scotiabank analyst Tristan Richardson maintains Targa Resources (NYSE:TRGP) with a Sector Outperform and raises the price target from $128 to $142.
Targa Resources's (NYSE:TRGP) short percent of float has risen 4.81% since its last report. The company recently reported that it has 3.75 million shares sold short, which is 1.96% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.81 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes
Targa Resources (NYSE:TRGP) has outperformed the market over the past 5 years by 13.36% on an annualized basis producing an average annual return of 26.45%. Currently, Targa Resources has a market capitalization of $29.37 billion. Buying $100 In TRGP: If an investor had bought $100 of TRGP stock 5 years ago, it would be worth $318.17 today based on a price of $132.45 for TRGP at the time of writing. Targa Resources's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated conte
Barclays analyst Christine Cho maintains Targa Resources (NYSE:TRGP) with a Overweight and raises the price target from $123 to $138.
JP Morgan analyst Jeremy Tonet maintains Targa Resources (NYSE:TRGP) with a Overweight and raises the price target from $140 to $145.
Targa Resources's (NYSE:TRGP) short percent of float has fallen 13.43% since its last report. The company recently reported that it has 3.59 million shares sold short, which is 1.87% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.69 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short inter
12 analysts have shared their evaluations of Targa Resources (NYSE:TRGP) during the recent three months, expressing a mix of bullish and bearish perspectives. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 6 6 0 0 0 Last 30D 1 0 0 0 0 1M Ago 2 2 0 0 0 2M Ago 0 2 0 0 0 3M Ago 3 2 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $130.92, a high estimate of $147.00, and a low estimate of $117.00. This upward trend is apparent, with the
Argus Research analyst John Staszak initiates coverage on Targa Resources (NYSE:TRGP) with a Buy rating and announces Price Target of $140.
As part of Targa's long-term development plans, Jennifer R. Kneale, current Chief Financial Officer, will become President - Finance and Administration. Jen will continue to report to Matthew J. Meloy, Targa's Chief Executive Officer.
Targa Resources (NYSE:TRGP) has outperformed the market over the past 5 years by 14.17% on an annualized basis producing an average annual return of 27.49%. Currently, Targa Resources has a market capitalization of $28.75 billion. Buying $100 In TRGP: If an investor had bought $100 of TRGP stock 5 years ago, it would be worth $335.59 today based on a price of $129.68 for TRGP at the time of writing. Targa Resources's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated conte
HOUSTON, April 17, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that Joel Thomas has been appointed Senior Vice President - Finance and Treasurer of the Company effective April 13, 2023. Joel joined Targa in 2012 where he served as Associate of Corporate Development and after increasing responsibilities through his time at Targa, was most recently Vice President of Corporate and Commercial Development. Prior to joining Targa, he was with Wells Fargo Securities, in their energy investment banking group. He holds a Bachelor of Business Administration in Business Honors and Finance from The University of Texas at Austin. About Targa R
HOUSTON, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that Paul W. Chung retired from the management team and was appointed Chairman of the Board of Directors effective January 1, 2021. Joe Bob Perkins, previously Executive Chairman of the Board of Directors, retired from the management team and will continue to serve on the Board of Directors. The changes announced today continue the succession contemplated and approved by the Nominating and Governance Committee of Targa’s Board of Directors. From May 2004 to March 2020, Mr. Chung served as Executive Vice President, General Counsel and Secretary of the Company and its pre
HOUSTON, July 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the second quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the second quarter of 2024. This cash dividend will be paid August 15, 2024 on all outstanding common shares to holders of record as of the close of business on July 31, 2024. The Company will report its second quarter 2024 financial results before the market opens for trading on Thursday, August 1, 2024 and will host
HOUSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today the following organizational changes, with the changes approved by Targa's Board of Directors effective July 22, 2024. As part of Targa's long-term development plans, Jennifer R. Kneale, current Chief Financial Officer ("CFO"), will become President - Finance and Administration. Jen will continue to report to Matthew J. Meloy, Targa's Chief Executive Officer. William A. Byers will join Targa as Chief Financial Officer, reporting to Jen. Will previously served as CFO at Manchester Energy, LLC ("Manchester") and Executive Vice President and CFO at Navitas Midstream Partners
HOUSTON, May 02, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported first quarter 2024 results. First quarter 2024 net income attributable to Targa Resources Corp. was $275.2 million compared to $497.0 million for the first quarter of 2023. The Company reported record adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $966.2 million for the first quarter of 2024 compared to $940.6 million for the first quarter of 2023. Highlights Record adjusted EBITDA for the first quarter of $966.2 millionRecord Permian and liquefied petroleum gas ("LPG") expo
HOUSTON, April 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its board of directors has declared an increase to its quarterly cash dividend to $0.75 per common share, or $3.00 per common share on an annualized basis, for the first quarter of 2024, consistent with previously disclosed expectations. This dividend represents a 50 percent increase over the common dividend declared with respect to the first quarter of 2023. This cash dividend will be paid May 15, 2024 on all outstanding common shares to holders of record as of the close of business on April 30, 2024. The Company will report its first quarter 2024 financial result
HOUSTON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP" or the "Company" or "Targa") has filed its Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2023. The report may be accessed at www.sec.gov. The report is also available in the Investors section of the Company's website at www.targaresources.com, or by going directly to https://www.targaresources.com/investors/financial-information/sec-filings. Hard copies of the report may be ordered free of charge by contacting the Company's investor relations department by email at [email protected], or by phone at (713) 584-1133. About Targa Resources Corp
HOUSTON, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the fourth quarter of 2023. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.50 per common share, or $2.00 per common share on an annualized basis, for the fourth quarter of 2023. This cash dividend will be paid February 15, 2024 on all outstanding common shares to holders of record as of the close of business on January 31, 2024. For the first quarter of 2024, Targa intends to recommend to its Board of Directors an increase to its common dividend to $0.75 per common share or
HOUSTON, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported third quarter 2023 results. Third quarter 2023 net income attributable to Targa Resources Corp. was $220.0 million compared to $193.1 million for the third quarter of 2022. Highlights Reported adjusted EBITDA(1) for the third quarter of $840 million, a 6% sequential increaseReported record NGL transportation volumes during the third quarterCompleted its 1 million barrel per month LPG export expansion at Galena ParkCompleted its new 275 million cubic feet per day ("MMcf/d") Greenwood plant in Permian MidlandRepurchased $132 million of common st
HOUSTON, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the third quarter of 2023. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.50 per common share, or $2.00 per common share on an annualized basis, for the third quarter of 2023. This cash dividend will be paid November 15, 2023 on all outstanding common shares to holders of record as of the close of business on October 31, 2023. The Company will report its third quarter 2023 financial results before the market opens for trading on Thursday, November 2, 2023 and will host a li
HOUSTON, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2022 is now available on the Company's website at https://www.targaresources.com/sustainability. The report advances Targa's sustainability disclosures and provides a review of Targa's performance for calendar year 2022 against various environmental, social, and governance topics that are important to our industry and our business. Highlights of Targa's Sustainability Report for the 2022 calendar year include the following: Reduced absolute methane emissions by 42% (as based on figures reported to the EPA), making progress towards Targ
HOUSTON, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported second quarter 2023 results. Second quarter 2023 net income attributable to Targa Resources Corp. was $329.3 million compared to $596.4 million for the second quarter of 2022. The Company recognized a $435.9 million gain from sale of an equity method investment in the second quarter of 2022. Highlights Continue to estimate 2023 adjusted EBITDA(1) between $3.5 billion and $3.7 billionRepurchased $149 million of common stock during the second quarter and $201 million for the six months ended June 30, 2023 at a weighted average p
HOUSTON, July 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the second quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the second quarter of 2024. This cash dividend will be paid August 15, 2024 on all outstanding common shares to holders of record as of the close of business on July 31, 2024. The Company will report its second quarter 2024 financial results before the market opens for trading on Thursday, August 1, 2024 and will host
HOUSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today the following organizational changes, with the changes approved by Targa's Board of Directors effective July 22, 2024. As part of Targa's long-term development plans, Jennifer R. Kneale, current Chief Financial Officer ("CFO"), will become President - Finance and Administration. Jen will continue to report to Matthew J. Meloy, Targa's Chief Executive Officer. William A. Byers will join Targa as Chief Financial Officer, reporting to Jen. Will previously served as CFO at Manchester Energy, LLC ("Manchester") and Executive Vice President and CFO at Navitas Midstream Partners
HOUSTON, June 14, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the J.P. Morgan Energy, Power and Renewables Conference in New York City on Tuesday, June 18, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America
HOUSTON, May 20, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the 21st Annual Energy Infrastructure CEO & Investor Conference in Aventura, FL on Wednesday, May 22, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North
HOUSTON, May 02, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported first quarter 2024 results. First quarter 2024 net income attributable to Targa Resources Corp. was $275.2 million compared to $497.0 million for the first quarter of 2023. The Company reported record adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $966.2 million for the first quarter of 2024 compared to $940.6 million for the first quarter of 2023. Highlights Record adjusted EBITDA for the first quarter of $966.2 millionRecord Permian and liquefied petroleum gas ("LPG") expo
HOUSTON, April 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its board of directors has declared an increase to its quarterly cash dividend to $0.75 per common share, or $3.00 per common share on an annualized basis, for the first quarter of 2024, consistent with previously disclosed expectations. This dividend represents a 50 percent increase over the common dividend declared with respect to the first quarter of 2023. This cash dividend will be paid May 15, 2024 on all outstanding common shares to holders of record as of the close of business on April 30, 2024. The Company will report its first quarter 2024 financial result
HOUSTON, March 26, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the J.P. Morgan Midwest Utilities & Midstream 1x1 Forum in Chicago, IL on Thursday, March 28, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North Americ
HOUSTON, March 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the Morgan Stanley Energy & Power Conference in New York City, NY on Wednesday, March 6, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. Th
HOUSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the THRIVE Energy Conference by Daniel Energy Partners in Houston, TX on Wednesday, February 21, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North Amer
HOUSTON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP" or the "Company" or "Targa") has filed its Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2023. The report may be accessed at www.sec.gov. The report is also available in the Investors section of the Company's website at www.targaresources.com, or by going directly to https://www.targaresources.com/investors/financial-information/sec-filings. Hard copies of the report may be ordered free of charge by contacting the Company's investor relations department by email at [email protected], or by phone at (713) 584-1133. About Targa Resources Corp
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Goldman resumed coverage of Targa Resources with a rating of Buy and set a new price target of $101.00
Scotiabank initiated coverage of Targa Resources with a rating of Sector Outperform and set a new price target of $115.00
Citigroup initiated coverage of Targa Resources with a rating of Buy and set a new price target of $95.00
Goldman resumed coverage of Targa Resources with a rating of Buy and set a new price target of $93.00
Truist resumed coverage of Targa Resources with a rating of Buy and set a new price target of $78.00
Mizuho upgraded Targa Resources from Neutral to Buy and set a new price target of $85.00 from $58.00 previously
Raymond James reiterated coverage of Targa Resources with a rating of Strong Buy and set a new price target of $80.00 from $70.00 previously
Evercore ISI upgraded Targa Resources from In-line to Outperform and set a new price target of $62.00
Raymond James reiterated coverage of Targa Resources with a rating of Strong Buy and set a new price target of $70.00 from $67.00 previously
Barclays reiterated coverage of Targa Resources with a rating of Overweight and set a new price target of $72.00 from $66.00 previously