Market Summary
USD68.20-2.75
Market Closed-3.88%
TRGP Stock Price
TRGP RSI Chart
TRGP Valuation
TRGP Price/Sales (Trailing)
TRGP Profitability
TRGP Fundamentals
TRGP Revenue
TRGP Earnings
Price Action
52 Week Range
54.9880.28
(Low)(High)
Last 7 days
-10.9%
Last 30 days
-11.1%
Last 90 days
-4.2%
Trailing 12 Months
6.5%
TRGP Financial Health
TRGP Investor Care
Peers (Alternatives to Targa Resources)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
ET | 40.6B | 89.9B | -7.80% | 29.98% | 8.97 | 1.48 | 33.31% | -13.05% |
KMI | 37.2B | 19.2B | -9.84% | 0.22% | 14.6 | 1.94 | 15.59% | 42.83% |
WMB | 35.1B | 11.0B | -9.53% | -6.22% | 17.15 | 3.2 | 3.18% | 35.07% |
CQP | 28.8B | 17.2B | -15.82% | -1.16% | 20.75 | 2.2 | 82.38% | 53.25% |
OKE | 27.3B | 22.4B | -12.90% | -0.85% | 15.84 | 1.22 | 35.35% | 14.84% |
| MID-CAP | ||||||||
DCP | 8.2B | 15.0B | 0.07% | 47.53% | 9.89 | 0.59 | 40.03% | 169.05% |
NFE | 6.0B | 2.4B | -28.31% | 1.19% | 30.82 | 2.53 | 79.03% | 100.28% |
ENLC | 5.0B | 9.5B | -17.92% | 24.51% | 13.71 | 0.52 | 42.72% | 1512.95% |
ETRN | 2.4B | 1.4B | -18.81% | -20.26% | -8.76 | 1.74 | 3.09% | 80.92% |
DKL | 2.3B | 1.0B | 8.06% | 34.17% | 14.33 | 2.2 | 47.87% | -3.50% |
| SMALL-CAP | ||||||||
NS | 1.7B | 226.0M | -11.30% | 11.36% | 7.7 | 7.59 | 436.62% | 482.73% |
VTNR | 592.5M | 2.8B | -5.10% | -10.81% | -122.87 | 0.21 | 2311.20% | 73.74% |
RTLR | 582.1M | 404.2M | 19.84% | 54.87% | 15.22 | 1.44 | -0.37% | 17.85% |
SMLP | 202.8M | 369.6M | -3.26% | 12.60% | -1.71 | 0.51 | -7.74% | -284.00% |
Financials for Targa Resources
| Income Statement (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Revenue | -4.1% | 20,930 | 21,817 | 20,916 | 18,276 | 16,950 |
| Operating Expenses | 5.9% | 913 | 862 | 790 | 759 | 747 |
| S&GA Expenses | 3.9% | 310 | 298 | 286 | 279 | 273 |
| EBITDA | 39.0% | 2,759 | 1,986 | 1,920 | 1,249 | - |
| EBITDA Margin | 44.9% | 0.13* | 0.09* | 0.09* | 0.07* | - |
| Earnings Before Taxes | 66.4% | 1,663 | 1,000 | 998 | 386 | 437 |
| EBT Margin | 73.4% | 0.08* | 0.05* | 0.05* | 0.02* | - |
| Net Income | 112.0% | 1,196 | 564 | 553 | 13.00 | 71.00 |
| Net Income Margin | 121.0% | 0.06* | 0.03* | 0.03* | 0.00* | - |
| Free Cahsflow | -22.4% | 1,047 | 1,349 | 1,657 | 1,758 | - |
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Assets | 0.9% | 19,560 | 19,390 | 15,334 | 15,295 | 15,208 |
| Current Assets | -5.6% | 2,357 | 2,497 | 2,164 | 1,901 | 1,770 |
| Cash Equivalents | 13.5% | 219 | 193 | 154 | 136 | 159 |
| Inventory | -16.4% | 394 | 471 | 202 | 98.00 | 153 |
| Net PPE | 3.6% | 14,215 | 13,716 | 11,878 | 11,653 | 11,668 |
| Current Liabilities | -9.6% | 3,067 | 3,394 | 3,153 | 2,910 | 2,299 |
| Long Term Debt | 2.6% | 10,702 | 10,431 | 7,046 | 6,965 | 6,434 |
| LT Debt, Non Current | - | - | - | - | - | - |
| Shareholder's Equity | 11.8% | 2,666 | 2,385 | 4,401 | 4,017 | 2,012 |
| Retained Earnings | 33.7% | -626 | -944 | -1,137 | -1,734 | -1,822 |
| Additional Paid-In Capital | -1.7% | 3,702 | 3,768 | 3,834 | 4,126 | 4,269 |
| Shares Outstanding | -0.1% | 226 | 226 | 227 | 228 | 228 |
| Minority Interest | -1.3% | 2,317 | 2,347 | 2,331 | 2,320 | 3,167 |
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
| Cashflow From Operations | 1.4% | 2,381 | 2,347 | 2,383 | 2,371 | 2,303 |
| Share Based Compensation | 2.0% | 58.00 | 56.00 | 57.00 | 58.00 | 59.00 |
| Cashflow From Investing | -8.6% | -4,149 | -3,821 | -38.90 | -580 | -473 |
| Cashflow From Financing | 27.2% | 1,829 | 1,438 | -2,399 | -1,903 | -1,914 |
| Buy Backs | -14.3% | 225 | 262 | 248 | 199 | 40.00 |
Risks for TRGP
What is the probability of a big loss on TRGP?
72.3%
Probability that Targa Resources stock will be more than 20% underwater in next one year
43.5%
Probability that Targa Resources stock will be more than 30% underwater in next one year.
20%
Probability that Targa Resources stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does TRGP drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Targa Resources was unfortunately bought at previous high price.
Drawdowns
Returns for TRGP
Cumulative Returns on TRGP
6.3%
10-Year Cumulative Returns
18.6%
7-Year Cumulative Returns
12.2%
5-Year Cumulative Returns
79.1%
3-Year Cumulative Returns
What are the long-term rolling returns for TRGP?
FIve years rolling returns for Targa Resources.
Annualized Returns
Which funds bought or sold TRGP recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-03-15 | B. Riley Wealth Advisors, Inc. | reduced | -8.85 | 81,601 | 822,601 | 0.02% |
2023-03-14 | AWM CAPITAL, LLC | unchanged | - | 6,500 | 367,500 | 0.12% |
2023-03-10 | VICTORY CAPITAL MANAGEMENT INC | added | 24.68 | 4,468,810 | 13,083,800 | 0.01% |
2023-03-10 | MATHER GROUP, LLC. | new | - | 231,672 | 231,672 | -% |
2023-03-06 | Rockefeller Capital Management L.P. | added | 1.49 | 337,000 | 1,757,000 | 0.01% |
2023-02-28 | Voya Investment Management LLC | reduced | -9.2 | 2,020,520 | 21,087,500 | 0.03% |
2023-02-24 | National Pension Service | reduced | -2.74 | 3,617,310 | 24,196,000 | 0.05% |
2023-02-24 | NATIXIS | new | - | 2,250,200 | 2,250,200 | 0.01% |
2023-02-24 | SRS Capital Advisors, Inc. | unchanged | - | 769 | 1,769 | -% |
2023-02-23 | Heritage Wealth Management, Inc./Texas | new | - | 358,461 | 358,461 | 0.36% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Targa Resources News
Schedule 13G FIlings of Targa Resources
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | price t rowe associates inc /md/ | 0.4% | 817,113 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 11.43% | 25,884,922 | SC 13G/A | |
| Feb 03, 2023 | blackrock inc. | 8.1% | 18,399,506 | SC 13G/A | |
| Jan 31, 2023 | state street corp | 6.90% | 15,616,505 | SC 13G | |
| Jun 09, 2022 | blackrock inc. | 10.7% | 24,430,083 | SC 13G | |
| Feb 14, 2022 | price t rowe associates inc /md/ | 5.1% | 12,277,357 | SC 13G/A | |
| Feb 04, 2022 | blackrock inc. | 9.6% | 21,959,815 | SC 13G | |
| Feb 16, 2021 | price t rowe associates inc /md/ | 7.2% | 17,250,268 | SC 13G/A | |
| Feb 12, 2021 | tortoise capital advisors, l.l.c. | 4.1% | 9,455,047 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 10.16% | 23,264,742 | SC 13G/A |
TRGP Fair Value
Targa Resources fair value in different scenarios
The table shows the Fair Value estimates for Targa Resources for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
| Fair Value | Very Pessimistic | Pessimistic | Base Case | Optimistic | Very Optimistic |
|---|---|---|---|---|---|
| Very Low Inflation | 17.41 -74.47% | 25.55 -62.54% | 70.85 3.89% | 190.04 178.65% | 301.68 342.35% |
| Current Inflation | 16.01 -76.52% | 23.12 -66.10% | 62.58 -8.24% | 164.70 141.50% | 259.88 281.06% |
| Very High Inflation | 14.27 -79.08% | 20.16 -70.44% | 52.80 -22.58% | 135.27 98.34% | 211.64 210.32% |
Historical Targa Resources Fair Value Estimates
Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price
Recent SEC filings of Targa Resources
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 4 | Insider Trading | |
| Mar 03, 2023 | 8-K | Current Report | |
| Mar 01, 2023 | 4 | Insider Trading | |
| Mar 01, 2023 | 4 | Insider Trading | |
| Mar 01, 2023 | 4 | Insider Trading |
Latest Insider Trading transactions for TRGP
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-03-02 | Pryor D. Scott | sold | -1,522,280 | 76.1138 | -20,000 | see remarks |
2023-03-02 | CRISP CHARLES R | gifted | - | - | -35.00 | - |
2023-03-01 | Chung Paul W | sold | -1,376,370 | 75.4342 | -18,246 | - |
2023-03-01 | Boushka Julie H. | sold (taxes) | -108,027 | 76.29 | -1,416 | senior vp and cao |
2023-03-01 | Cooksen Lindsey | sold | -25,362 | 75.71 | -335 | - |
2023-02-28 | Chung Paul W | sold | -542,920 | 75.5 | -7,191 | - |
2023-02-27 | JOYCE RENE R | sold | -377,854 | 75.5709 | -5,000 | - |
2023-02-27 | Chung Paul W | sold | -313,054 | 75.6718 | -4,137 | - |
2023-02-27 | MELOY MATTHEW J | gifted | - | - | -42,915 | chief executive officer |
2023-02-27 | Kneale Jennifer R. | sold | -2,126,220 | 75.2858 | -28,242 | chief financial officer |
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 28,400 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 76 million barrels. As of December 31, 2021, the company leased and managed approximately 648 railcars; 119 transport tractors; and two company-owned pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
TRGP Income Statement
2022-12-31CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |||
| Revenues: | |||||
| Total revenues | $ 20,929.8 | $ 16,949.8 | $ 8,260.3 | ||
| Costs and expenses: | |||||
| Product purchases and fuel | 16,882.1 | 13,729.5 | 5,186.5 | ||
| Operating expenses | 912.8 | 747.0 | 698.4 | ||
| Depreciation and amortization expense | 1,096.0 | 870.6 | 865.1 | ||
| General and administrative expense | 309.7 | 273.2 | 254.6 | ||
| Impairment of long-lived assets | 452.3 | 2,442.8 | |||
| Other operating (income) expense | 0.2 | 12.4 | 116.6 | ||
| Income (loss) from operations | 1,729.0 | 864.8 | (1,303.7) | ||
| Other income (expense): | |||||
| Interest expense, net | (446.1) | (387.9) | (391.3) | ||
| Equity earnings (loss) | 9.1 | (23.9) | 72.6 | ||
| Gain (loss) from financing activities | (49.6) | (16.6) | 45.6 | ||
| Gain (loss) from sale of equity-method investment | 435.9 | ||||
| Other, net | (15.1) | 0.5 | 3.7 | ||
| Income (loss) before income taxes | 1,663.2 | 436.9 | (1,573.1) | ||
| Income tax (expense) benefit | (131.8) | (14.8) | 248.1 | ||
| Net income (loss) | 1,531.4 | 422.1 | (1,325.0) | ||
| Less: Net income (loss) attributable to noncontrolling interests | 335.9 | 350.9 | 228.9 | ||
| Net income (loss) attributable to Targa Resources Corp. | 1,195.5 | 71.2 | (1,553.9) | ||
| Premium on repurchase of noncontrolling interests, net of tax | [1] | 53.2 | |||
| Dividends on Series A Preferred Stock | 30.0 | 87.3 | 91.7 | ||
| Deemed dividends on Series A Preferred Stock | 215.5 | 39.2 | |||
| Net income (loss) attributable to common shareholders | $ 896.8 | $ (16.1) | $ (1,684.8) | ||
| Net income (loss) per common share - basic | $ 3.95 | $ (0.07) | $ (7.26) | ||
| Net income (loss) per common share - diluted | $ 3.88 | $ (0.07) | $ (7.26) | ||
| Weighted average shares outstanding - basic | 227.3 | 228.6 | 232.2 | ||
| Weighted average shares outstanding - diluted | 231.1 | 228.6 | 232.2 | ||
| Sales of Commodities [Member] | |||||
| Revenues: | |||||
| Total revenues | $ 19,066.0 | $ 15,602.5 | $ 7,171.0 | ||
| Fees from Midstream Services [Member] | |||||
| Revenues: | |||||
| Total revenues | $ 1,863.8 | $ 1,347.3 | $ 1,089.3 | ||
| |||||
TRGP Balance Sheet
2022-12-31CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 219.0 | $ 158.5 |
| Trade receivables, net of allowances of $2.2 million and $0.1 million at December 31, 2022 and December 31, 2021 | 1,408.4 | 1,331.9 |
| Inventories | 393.8 | 153.4 |
| Assets from risk management activities | 179.9 | 43.1 |
| Other current assets | 155.5 | 82.9 |
| Total current assets | 2,356.6 | 1,769.8 |
| Property, plant and equipment, net | 14,214.6 | 11,667.7 |
| Intangible assets, net | 2,734.6 | 1,094.8 |
| Long-term assets from risk management activities | 24.5 | 7.7 |
| Investments in unconsolidated affiliates | 131.3 | 586.5 |
| Other long-term assets | 98.4 | 81.7 |
| Total assets | 19,560.0 | 15,208.2 |
| Current liabilities: | ||
| Accounts payable | 1,448.8 | 1,402.3 |
| Accrued liabilities | 273.3 | 272.2 |
| Distributions payable | 16.2 | 64.5 |
| Interest payable | 174.0 | 138.5 |
| Liabilities from risk management activities | 320.1 | 258.2 |
| Current debt obligations | 834.3 | 162.8 |
| Total current liabilities | 3,066.7 | 2,298.5 |
| Long-term debt | 10,702.1 | 6,434.4 |
| Long-term liabilities from risk management activities | 140.1 | 109.3 |
| Deferred income taxes, net | 327.7 | 136.0 |
| Other long-term liabilities | 341.2 | 301.6 |
| Commitments and Contingencies (see Notes 17 and 18) | ||
| Targa Resources Corp. stockholders' equity: | ||
| Common stock ($0.001 par value, 450,000,000 shares authorized as of December 31, 2022 and December 31, 2021) | 0.2 | 0.2 |
| Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding) | 0.0 | 0.0 |
| Additional paid-in capital | 3,702.3 | 4,268.9 |
| Retained earnings (deficit) | (626.8) | (1,822.3) |
| Accumulated other comprehensive income (loss) | 54.7 | (230.9) |
| Treasury stock, at cost (11,896,829 shares as of December 31, 2022 and 7,884,171 shares as of December 31, 2021) | (464.7) | (204.1) |
| Total Targa Resources Corp. stockholders' equity | 2,665.7 | 2,011.8 |
| Noncontrolling interests | 2,316.5 | 3,166.9 |
| Total owners' equity | 4,982.2 | 5,178.7 |
| Total liabilities, Series A Preferred Stock and owners' equity | 19,560.0 | 15,208.2 |
| Series A Preferred Stock | ||
| Current liabilities: | ||
| Series A Preferred 9.5% Stock, $1,000 per share liquidation preference (1,200,000 shares authorized, zero and 919,300 shares issued and outstanding as of December 31, 2022 and December 31, 2021), net of discount (see Note 11) | $ 0.0 | $ 749.7 |