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Targa Resources Corp Stock Research

TRGP

68.20USD-2.75(-3.88%)Market Closed

Market Summary

USD68.20-2.75
Market Closed
-3.88%

TRGP Alerts

TRGP Stock Price

TRGP RSI Chart

TRGP Valuation

Market Cap

15.5B

Price/Earnings (Trailing)

12.98

Price/Sales (Trailing)

0.74

EV/EBITDA

9.42

Price/Free Cashflow

14.83

TRGP Price/Sales (Trailing)

TRGP Profitability

EBT Margin

7.95%

Return on Equity

44.85%

Return on Assets

6.11%

Free Cashflow Yield

6.74%

TRGP Fundamentals

TRGP Revenue

Revenue (TTM)

20.9B

Revenue Y/Y

-16.3%

Revenue Q/Q

-15.02%

TRGP Earnings

Earnings (TTM)

1.2B

Earnings Y/Y

201.4%

Earnings Q/Q

64.68%

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

Current Ratio

0.77

Debt/Equity

4.01

Debt/Cashflow

0.22

TRGP Investor Care

Dividend Yield

2.04%

Dividend/Share (TTM)

1.4

Buy Backs (1Y)

0.95%

Diluted EPS (TTM)

3.88

Peers (Alternatives to Targa Resources)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
40.6B
89.9B
-7.80% 29.98%
8.97
1.48
33.31% -13.05%
37.2B
19.2B
-9.84% 0.22%
14.6
1.94
15.59% 42.83%
35.1B
11.0B
-9.53% -6.22%
17.15
3.2
3.18% 35.07%
28.8B
17.2B
-15.82% -1.16%
20.75
2.2
82.38% 53.25%
27.3B
22.4B
-12.90% -0.85%
15.84
1.22
35.35% 14.84%
MID-CAP
8.2B
15.0B
0.07% 47.53%
9.89
0.59
40.03% 169.05%
6.0B
2.4B
-28.31% 1.19%
30.82
2.53
79.03% 100.28%
5.0B
9.5B
-17.92% 24.51%
13.71
0.52
42.72% 1512.95%
2.4B
1.4B
-18.81% -20.26%
-8.76
1.74
3.09% 80.92%
2.3B
1.0B
8.06% 34.17%
14.33
2.2
47.87% -3.50%
SMALL-CAP
1.7B
226.0M
-11.30% 11.36%
7.7
7.59
436.62% 482.73%
592.5M
2.8B
-5.10% -10.81%
-122.87
0.21
2311.20% 73.74%
582.1M
404.2M
19.84% 54.87%
15.22
1.44
-0.37% 17.85%
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)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue-4.1%20,93021,81720,91618,27616,950
Operating Expenses5.9%913862790759747
  S&GA Expenses3.9%310298286279273
EBITDA39.0%2,7591,9861,9201,249-
EBITDA Margin44.9%0.13*0.09*0.09*0.07*-
Earnings Before Taxes66.4%1,6631,000998386437
EBT Margin73.4%0.08*0.05*0.05*0.02*-
Net Income112.0%1,19656455313.0071.00
Net Income Margin121.0%0.06*0.03*0.03*0.00*-
Free Cahsflow-22.4%1,0471,3491,6571,758-
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets0.9%19,56019,39015,33415,29515,208
  Current Assets-5.6%2,3572,4972,1641,9011,770
    Cash Equivalents13.5%219193154136159
  Inventory-16.4%39447120298.00153
  Net PPE3.6%14,21513,71611,87811,65311,668
  Current Liabilities-9.6%3,0673,3943,1532,9102,299
  Long Term Debt2.6%10,70210,4317,0466,9656,434
    LT Debt, Non Current------
Shareholder's Equity11.8%2,6662,3854,4014,0172,012
  Retained Earnings33.7%-626-944-1,137-1,734-1,822
  Additional Paid-In Capital-1.7%3,7023,7683,8344,1264,269
Shares Outstanding-0.1%226226227228228
Minority Interest-1.3%2,3172,3472,3312,3203,167
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations1.4%2,3812,3472,3832,3712,303
  Share Based Compensation2.0%58.0056.0057.0058.0059.00
Cashflow From Investing-8.6%-4,149-3,821-38.90-580-473
Cashflow From Financing27.2%1,8291,438-2,399-1,903-1,914
  Buy Backs-14.3%22526224819940.00

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 ascendingFund NameType% 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%

1–10 of 48

Latest Funds Activity

Are funds buying TRGP calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own TRGP
No. of Funds

Targa Resources News

Nasdaq

XLE's Holdings Could Mean 27% Gain Potential.

Nasdaq,
85 minutes ago

The News Heater

The West Australian

InvestorsObserver

Nasdaq

Schedule 13G FIlings of Targa Resources

Date FiledName of FilerPercent of ClassNo. of SharesForm 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 ValueVery PessimisticPessimisticBase CaseOptimisticVery 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 ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
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

1–10 of 50

Matthew J. Meloy
2430
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

2022-12-31
CONSOLIDATED 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 fuel16,882.113,729.55,186.5
Operating expenses912.8747.0698.4
Depreciation and amortization expense1,096.0870.6865.1
General and administrative expense309.7273.2254.6
Impairment of long-lived assets 452.32,442.8
Other operating (income) expense0.212.4116.6
Income (loss) from operations1,729.0864.8(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 investment435.9  
Other, net(15.1)0.53.7
Income (loss) before income taxes1,663.2436.9(1,573.1)
Income tax (expense) benefit(131.8)(14.8)248.1
Net income (loss)1,531.4422.1(1,325.0)
Less: Net income (loss) attributable to noncontrolling interests335.9350.9228.9
Net income (loss) attributable to Targa Resources Corp.1,195.571.2(1,553.9)
Premium on repurchase of noncontrolling interests, net of tax[1]53.2  
Dividends on Series A Preferred Stock30.087.391.7
Deemed dividends on Series A Preferred Stock215.5 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 - basic227.3228.6232.2
Weighted average shares outstanding - diluted231.1228.6232.2
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
[1]Represents premium paid on the DevCo JV Repurchase. See Note 4 – Acquisitions and Divestitures.

TRGP Balance Sheet

2022-12-31
CONSOLIDATED 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, 20211,408.41,331.9
Inventories393.8153.4
Assets from risk management activities179.943.1
Other current assets155.582.9
Total current assets2,356.61,769.8
Property, plant and equipment, net14,214.611,667.7
Intangible assets, net2,734.61,094.8
Long-term assets from risk management activities24.57.7
Investments in unconsolidated affiliates131.3586.5
Other long-term assets98.481.7
Total assets19,560.015,208.2
Current liabilities:  
Accounts payable1,448.81,402.3
Accrued liabilities273.3272.2
Distributions payable16.264.5
Interest payable174.0138.5
Liabilities from risk management activities320.1258.2
Current debt obligations834.3162.8
Total current liabilities3,066.72,298.5
Long-term debt10,702.16,434.4
Long-term liabilities from risk management activities140.1109.3
Deferred income taxes, net327.7136.0
Other long-term liabilities341.2301.6
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)0.20.2
Preferred stock ($0.001 par value, after designation of Series A Preferred Stock: 98,800,000 shares authorized, zero shares issued and outstanding)0.00.0
Additional paid-in capital3,702.34,268.9
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' equity2,665.72,011.8
Noncontrolling interests2,316.53,166.9
Total owners' equity4,982.25,178.7
Total liabilities, Series A Preferred Stock and owners' equity19,560.015,208.2
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