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 $66.85, down 1.98% from the previous day, and has decreased 7.45% in one year. It has underperformed other stocks in the Oil & Gas Midstream industry by 0.14 percentage points. Targa Resources stock is currently +20.32% from its 52-week low of $55.56, and -17.98% from its 52-week high of $81.50.
At the moment, there are 226.64M TRGP shares outstanding. The market cap of TRGP is $15.15B. In the past 24 hours, 1.16M TRGP shares were traded.
How to Buy Targa Resources Stock
Wondering how to invest in Targa Resources stock? Here's how.
- 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.
- Open your brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Put funds into your investment account: Pick your payment method and add your details.
- 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).
- 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.
- 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.
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Open eToro AccountStep 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.
How to Open a New Investment Account on eToro
- Click here to get started.
- Provide your personal info to start a new brokerage account.
- Send your data by pressing the "Create Account" button.
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:
Check out the video below for more details transferring money into your new brokerage account.
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
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 undervalued based on its P/E ratio of 16.92x, relative to Oil & Gas Midstream industry P/E ratio of 20.44x
- TRGP could be overvalued based on its P/B ratio of 5.68x, relative to Oil & Gas Midstream industry P/B ratio of 2.09x
- TRGP may be undervalued based on its PEG ratio of 0.53x
You can access more valuation analysis on TRGP's stock here.
TRGP Financial Summary
Passed Health Checks:
- TRGP's operating cash flow of $2.38B allows it to safely service it's debt of $11.54B.
- TRGP profit margin has gone up from -0.1% to 4.3% 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 $1.77B 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 5.47.
Is it a good time to buy Targa Resources stock, according to Wall Street analysts?
Out of 9 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 5% analyst from Wells Fargo maintains TRGP with a strong buy rating and raises their TRGP price target from $89.00 to $94.00, on Mar 1, 2023.
Maintaining his Strong Buy rating, Blum raised the firm's price target on Targa Resources Corp. by 5.6% following the release of the company's Q4 and FY 2022 earnings report on 2023/02/22.
Q4's beat and management's 2023 EBITDA and Capex guidance, all of which were exceeded his estimates, account for his price target move, the analyst said.
Targa announced a 43% increase to its dividend in Q1 2023, which was also above his forecast, Blum added.
Targa Resources reported:
For Q4 2022:
- EPS of $1.38, which beat the Zacks Consensus Estimate of $1.29 and, by 170.5%, Q4 2021's $0.51.
- Revenue of $4.55B, which missed the Zacks Consensus Estimate of $5.4B and, by 16.3%, Q4 2021's $5.44B.
- Adjusted EBITDA of $840.4M, up 42.3% from Q4 2021's $570.6M.
- Paid out a $0.35 dividend and repurchased shares worth $28M.
For FY 2022:
- Net income of $1.19B, up from FY 2021's $71.2M.
- Revenue of $20.93B, up 23.2% from FY 2021's $16.95B.
- Adjusted EBITDA of $2.9B, up 41.5% from FY 2021's $2.05B.
For FY 2023, management guided:
- Adjusted EBITDA of $3.5B to $3.7B.
- Capex of $1.8B to1.9B, with maintenance capex at $175 million.
- Prices for natural gas, natural gas liquids, and crude oil to be $2.25/MMbtu, $0.70/gallon, and $75/barrel, respectively.
Management did not provide commentary in its press release.
Justin Jenkins, a top 1% analyst from Raymond James maintains TRGP with a strong buy rating and raises their TRGP price target from $92.00 to $95.00, on Feb 28, 2023.
Gabriel Moreen, a top 17% analyst from Mizuho maintains TRGP with a strong buy rating and raises their TRGP price target from $92.00 to $94.00, on Feb 2, 2023.
Shneur Gershuni, a top 1% analyst from UBS maintains TRGP with a strong buy rating and lowers their TRGP price target from $107.00 to $106.00, on Dec 15, 2022.
Spiro Dounis, a top 21% analyst from Citigroup initiates coverage on TRGP with a strong buy rating and announces their TRGP price target of $95.00, on Dec 9, 2022.
You can dive deeper into what analysts are forecasting on the Targa Resources stock forecast page.
TRGP Technical Indicators
TRGP Performance Metrics
Last year, TRGP revenue was $20.93B. Over the last five year, TRGP's revenue has gone up by 18.88% per year. This was faster than the Oil & Gas Midstream industry average of 15.54%.
Find out more about TRGP's earnings and revenue performance here.
Are TRGP executives and large shareholders buying or selling the stock?
In the last year, executives and large shareholders at TRGP have sold more shares than they have bought.
D. Scott Pryor, President - Logistics and Transportation of TRGP, was the latest TRGP insider to sell. They sold $1,522,280.00 worth of TRGP stock on Mar 2, 2023.
Dig into more about who owns TRGP stock here.
Can I rely on TRGP as an income stream?
Targa Resources pays a dividend of 2.09%, compared to the Oil & Gas Midstream industry's average dividend yield of 7.11%. If you owned $1,000 of TRGP stock, you would have received $20.94 in the past year.
Targa Resources dividend payments have not consistently grown over the past decade and have not remained stable.
Find more data about Targa Resources dividend yield and history here.
TRGP Social Trading Data
One of the major reasons eToro is our favorite brokerage is because of its social trading community.
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Step 5: Execute your TRGP purchase
There are two primary order types:
- Market order: A market order is an order to buy or sell a security at the best price on the market.
Market orders are mostly the best for newer investors. - Limit order: A limit order allows you to buy or sell a stock at a specific price (or better).
If you want to be sure you're buying or selling at an exact price limit, place a limit order.
Press the Open button and eToro will place your order.
If you need more info about investing in stocks on eToro, watch the helpful video below:
Step 6: Keep an eye on your TRGP position
Now that you own some shares in TRGP, you'll want to keep up with your investment.
Put TRGP on a watchlist to get notified of important updates regarding 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:
- Choose where to buy Targa Resources stock
- Open your brokerage account
- Put funds into your investment account
- Analyze Targa Resources stock
- Execute your TRGP purchase
- Keep an eye on your TRGP position
If you require a brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you would like to keep tabs on your investment in Targa Resources, create a watchlist today.
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