Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved 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, storing, terminaling, purchasing, and selling crude oil. It is also involved in the purchase and resale of NGL products; and sale 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. As of December 31, 2023, it leased and managed approximately 605 railcars; 137 tractors; and 6 vacuum trucks and 2 pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
Permian Powerhouse | Targa Resources Corp.'s strategic focus on the Permian Basin positions it for substantial growth, with analysts projecting significant cash flow inflection starting in 2025. |
Financial Fortitude | TRGP delivered robust Q3 2024 results, exceeding expectations with a five-year revenue CAGR of 9%. The company raised its full-year 2024 adjusted EBITDA guidance above $4.05 billion. |
Shareholder Rewards | Discover Targa's commitment to shareholder returns, including a 33% dividend increase for 2025 and accelerated share buybacks, supported by 14 years of consistent dividend payments. |
Analyst Outlook | Explore varied analyst perspectives on TRGP, with price targets ranging from $138 to $202, reflecting diverse views on the company's growth potential and market positioning. |
Metrics to compare | TRGP | Sector Sector - Average of metrics from a broad group of related Energy sector companies | Relationship RelationshipTRGPPeersSector | |
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P/E Ratio | 38.2x | 20.4x | 4.8x | |
PEG Ratio | 0.85 | 0.54 | 0.00 | |
Price/Book | 18.3x | 2.7x | 1.1x | |
Price / LTM Sales | 2.9x | 4.5x | 1.1x | |
Upside (Analyst Target) | −4.3% | −0.7% | 26.2% | |
Fair Value Upside | Unlock | −9.6% | 8.2% | Unlock |