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Morningstar

Targa Resources Corp TRGP Stock Quote

Morningstar Rating
| Rating as of

NYSE: TRGP

Last close prices updated as of Jan 27, 2023, 7:00 PM EST | USD | BATS BZX Real-Time Price
  • Last Close 75.35
  • Sector Energy
  • Industry Oil & Gas Midstream
  • Investment Style Mid Blend
  • Day Range 74.94  –  76.22
  • Year Range 55.56  –  81.50
  • Market Cap 17.0574 Bil
  • Volume / Avg 1.1 Mil /  1.5 Mil
  • Price / Sales 0.79
  • Price / Book 7.15
  • Forward Div Yield 1.87%
  • Trailing Div Yield 2.32%

Morningstar‘s Stock Analysis TRGP

Valuation
Currency in —
Is it the right time to buy or sell?
Find out with Morningstar Investor
Is it the right time to buy or sell?
Find out with Morningstar Investor

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

Targa Acquires Remaining 25% of Grand Prix From Blackstone Energy Partners in Value-Neutral Deal

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Targa Resources has agreed to buy the remaining 25% of the Grand Prix pipeline it does not own from Blackstone Energy Partners for $1.05 billion. We consider the Grand Prix pipeline one of Targa’s most valuable assets, so complete ownership is certainly helpful, and the valuation multiple of 8.75 times 2023 EBITDA is reasonable. The deal will boost Targa’s reliance on fee-based income, and after incorporating the deal into our model, we expect leverage to remain comfortable at about 3.5 times for 2023. Since we view the multiple as fair for the asset, our fair value estimate and no-moat rating remain unchanged.

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Key Statistics TRGP

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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.

Contact
811 Louisiana Street, Suite 2100
Houston, TX, 77002
Sector Energy
Industry Oil & Gas Midstream
Employees 2,430

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Related News TRGP

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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.

Learn more about dividend yield.

TRGP’s market cap is 17.06 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 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.