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How to Buy Targa Resources Stock

Targa Resources Corp

Targa Resources is a oil & gas midstream company located in Texas, United States, which is part of the Energy sector, and is traded under the ticker TRGP on the NYSE exchange.

Targa Resources stock last closed at $128.60, up 2.8% from the previous day, and has increased 79.78% in one year. It has overperformed other stocks in the Oil & Gas Midstream industry by 0.45 percentage points. Targa Resources stock is currently +83.66% from its 52-week low of $70.02, and -0.83% from its 52-week high of $129.68.

At the moment, there are 221.72M TRGP shares outstanding. The market cap of TRGP is $28.51B. In the past 24 hours, 1.41M TRGP shares were traded.

How to Buy Targa Resources Stock

Wondering how to invest in Targa Resources stock? Here's how.
  1. Choose where to buy Targa Resources stock: You need to pick a stock brokerage, but don't worry - we've analyzed dozens of online stock brokerages and apps to help you choose where to buy Targa Resources stock.
  2. Open your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
  3. Put funds into your investment account: Pick your payment method and add your details.
  4. Analyze Targa Resources stock: The Targa Resources ticker symbol is TRGP. Is Targa Resources stock a good investment? Should you buy shares of TRGP? How do TRGP's underlying business fundamentals look? Do top analysts think Targa Resources is a good buy? Why has TRGP's stock price moved recently? (Hint: Our stock research website can help you decide if TRGP is a good stock to buy).
  5. Execute your TRGP purchase: Decide if you will purchase TRGP shares at the current market price or use a limit order to purchase TRGP stock at a given price.
  6. Keep an eye on your TRGP position: Create a watchlist to monitor your investment in Targa Resources shares.

Step 1: Choose where to buy Targa Resources stock

You will need a brokerage account in order to access the NYSE market and buy TRGP stock.

A brokerage account is an investment account that allows you to buy and sell a variety of investments, including stocks, bonds, mutual funds, and ETFs.

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Step 2: Open your brokerage account

Now that you've picked the best brokerage, the next step is to fill out some personal info so you can invest in TRGP today.

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Step 3: Put funds into your investment account

Now that you've filled out your info on the greatest app to buy stocks, your next step is to transfer the money for your investment:

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Step 4: Analyze Targa Resources stock

Once you have figured out the best place to buy Targa Resources stock, it's crucial to evaluate their stock prior to investing, so you can wrap your head around the risk as well as the opportunity.

Targa Resources stock at a glance

TRGP Price
$128.60
1w %
5.76%
1y %
79.78%
5y %
243.76%
P/E
26.3x
P/B
10.55x
P/S
1.78x
PEG
1.41x
Revenue
$16.10B
Earnings
$1.10B
Fore. Rev. Growth
15.81%
Fore. Earn. Growth
18.65%
Market Cap
$28.51B
Next Earnings
Aug 1, 2024
Next Dividend
N/A

Fundamentals of Targa Resources

WallStreetZen was created to help part-time investors perform more in-depth fundamental analysis.

You can see all of the due diligence checks on TRGP's stock page.

What is the fair value of TRGP stock?

You can use many financial metrics, analyses, models, and charts to gauge TRGP's true value.

Using relative valuations ratios:

  • TRGP may be overvalued based on its P/E ratio of 26.3x, relative to Oil & Gas Midstream industry P/E ratio of 15.2x
  • TRGP could be overvalued based on its P/B ratio of 10.55x, relative to Oil & Gas Midstream industry P/B ratio of 2.42x
  • TRGP may be overvalued based on its PEG ratio of 1.41x

You can access more valuation analysis on TRGP's stock here.

TRGP Financial Summary

Passed Health Checks:

  • TRGP's operating cash flow of $2.92B allows it to safely service it's debt of $13.06B.
  • TRGP profit margin has gone up from 4.3% to 6.9% in the past year.

Failed Health Checks:

  • There are more long-term liabilities than short-term assets on the TRGP balance sheet.
  • TRGP earnings of $2.21B is not enough to cover its interest payments.
  • There are more short-term liabilities than short-term assets on the TRGP balance sheet.
  • Total TRGP debt is higher than 5 years ago, relative to shareholder equity.
  • TRGP has a relatively high debt to equity ratio of 6.02.

Is it a good time to buy Targa Resources stock, according to Wall Street analysts?

Out of 13 Equities analysts who track TRGP, the consensus analyst rating on Targa Resources is a Strong Buy

It's important to keep in mind that analyst forecasts are not recommendations, nor are they financial advice.

Latest TRGP Analyst Recommendations

Michael Blum, a top 10% analyst from Wells Fargo maintains TRGP with a strong buy rating and raises their TRGP price target from $109.00 to $124.00, on May 3, 2024.

Selman Akyol, a top 22% analyst from Stifel Nicolaus maintains TRGP with a strong buy rating and raises their TRGP price target from $111.00 to $130.00, on Apr 16, 2024.

Stifel Nicolaus's Selman Akyol raised their price target on Targa Resources (NYSE: TRGP) by 17.1% from $111 to $130 on 2024/04/16. The analyst maintained their Strong Buy rating on the stock.

In a preview of Q1 2024 earnings of names in their Energy (Oil & Gas Midstream) portfolio, Akyol said that they "updated several of its estimates and target prices, including Targa Resources."

Tristan Richardson, a bottom 8% analyst from ScotiaBank maintains TRGP with a buy rating and raises their TRGP price target from $112.00 to $128.00, on Apr 15, 2024.

Christine Cho, a top 25% analyst from Barclays maintains TRGP with a strong buy rating and raises their TRGP price target from $116.00 to $122.00, on Apr 9, 2024.

John Mackay, a top 14% analyst from Goldman Sachs maintains TRGP with a strong buy rating and raises their TRGP price target from $105.00 to $117.00, on Apr 4, 2024.

You can dive deeper into what analysts are forecasting on the Targa Resources stock forecast page.

TRGP Technical Indicators

SMA10
122.68
SMA20
119.68
SMA50
116.6
SMA100
109.25
SMA200
97.38
MACD
2.82
MACD Signal
2.01
MACD Histogram
0.81
RSI
73.58
Stochastic %K
86.87
Stochastic %D
90.07
StochRSI %K
90.83
StochRSI %D
90.44

TRGP Performance Metrics

Last year, TRGP earnings were $1.10B. Over the last three year, TRGP's earnings have gone up by 166.56% per year. This was faster than the Oil & Gas Midstream industry average of 28.44%.

Last year, TRGP revenue was $16.10B. Over the last 5 year, TRGP's revenue has grown by 9.29% per year. This was faster than the Oil & Gas Midstream industry average of 8.28%.

Dive into TRGP's earnings and revenue performance here.

Latest Insiders Trades at TRGP

In the last year, insiders at TRGP have sold more shares than they have bought.

Robert Muraro, Chief Commercial Officer of TRGP, was the latest TRGP insider to sell. They sold $1,200,810.00 worth of TRGP stock on Jun 10, 2024.

Learn more about who owns TRGP shares here.

Can I get consistent income from TRGP stock?

Targa Resources pays a dividend of 1.75%, compared to the Oil & Gas Midstream industry's average dividend yield of 5.38%. If you owned $1,000 worth of TRGP stock, you would have received $17.50 last year.

Targa Resources dividend payments have consistently grown over the past decade but have not remained stable.

Find more data about Targa Resources dividend yield and history here.

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Step 5: Execute your TRGP purchase

There are two primary types of orders:

  • Market order: A market order is an order to buy or sell a security at the best available price.
    Market orders are mostly sufficient.
  • Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
    If you want to be sure you're buying or selling at a particular price limit, place a limit order.

Click the Open Trade button and your broker will place the order.

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Step 6: Keep an eye on your TRGP position

Now that you own some TRGP stock, you'll want to keep up with your shares.

Put TRGP on a watchlist to see the latest developments about your TRGP stock.

TRGP Feed

How to Buy Stock in Targa Resources

To summarize, here are the 6 steps to buy stock in Targa Resources:

  1. Choose where to buy Targa Resources stock
  2. Open your brokerage account
  3. Put funds into your investment account
  4. Analyze Targa Resources stock
  5. Execute your TRGP purchase
  6. Keep an eye on your TRGP position

If you are looking for a brokerage, eToro is our recommended venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you would like to watch your new investment in Targa Resources, create a watchlist on WallStreetZen today.

NYSE: TRGP
$128.60+3.50 (+2.8%)
Updated Jun 24, 2024
Open eToro Account
NYSE: TRGP
$128.60+3.50 (+2.8%)
Updated Jun 24, 2024
Open eToro Account

FAQ

How much does it cost to buy one Targa Resources share?

As of Jun 24, 2024, it costs $128.60 to buy one share of Targa Resources stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $10, you can buy 0.078 shares of TRGP.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Targa Resources stock?

According to 13 Wall Street analysts who monitor Targa Resources, their consensus recommendation is to buy Targa Resources stock.

What is the best way to buy Targa Resources stock?

One way to place an order for Targa Resources stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.