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 $116.90, up 0.77% from the previous day, and has increased 51.84% in one year. It has overperformed other stocks in the Oil & Gas Midstream industry by 0.34 percentage points. Targa Resources stock is currently +73.56% from its 52-week low of $67.36, and -0.6% from its 52-week high of $117.61.
At the moment, there are 223.16M TRGP shares outstanding. The market cap of TRGP is $26.09B. In the past 24 hours, 1.37M 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.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal info to start a new brokerage account.
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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:
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 overvalued based on its P/E ratio of 31.68x, relative to Oil & Gas Midstream industry P/E ratio of 14.11x
- TRGP could be overvalued based on its P/B ratio of 9.52x, relative to Oil & Gas Midstream industry P/B ratio of 2.34x
- TRGP may be undervalued based on its PEG ratio of 0.55x
You can access more valuation analysis on TRGP's stock here.
TRGP Financial Summary
Passed Health Checks:
- TRGP's operating cash flow of $3.21B allows it to safely service it's debt of $12.95B.
- TRGP profit margin has gone up from 4.3% to 5.2% 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 $2.40B 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 5.86.
Is it a good time to buy Targa Resources stock, according to Wall Street analysts?
Out of 11 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
Neal Dingmann, a top 1% analyst from Truist Securities maintains TRGP with a strong buy rating and raises their TRGP price target from $105.00 to $120.00, on Mar 20, 2024.
Truist Securities's Neal Dingmann raised their price target on Targa Resources (NYSE: TRGP) by 14.3% from $105 to $120 on 2024/03/20. The analyst maintained their Strong Buy rating on the stock.
The company is expected to continue to grow and accelerate next year through a combination of projects together with "solid" organic activities, including continued ramping in the Permian Basin, the analyst told investors.
Targa Resources' strong free cash flow should continue to boost the dividend growth that was recently recommended, Dingmann added.
Jeremy Tonet, a top 19% analyst from JP Morgan maintains TRGP with a strong buy rating and raises their TRGP price target from $122.00 to $125.00, on Mar 6, 2024.
Elvira Scotto, a bottom 5% analyst from RBC Capital maintains TRGP with a buy rating and raises their TRGP price target from $106.00 to $109.00, on Feb 26, 2024.
Spiro Dounis, a top 8% analyst from Citigroup maintains TRGP with a strong buy rating and raises their TRGP price target from $104.00 to $112.00, on Feb 21, 2024.
Shneur Gershuni, a top 2% analyst from UBS maintains TRGP with a strong buy rating and lowers their TRGP price target from $109.00 to $108.00, on Jan 18, 2024.
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 earnings were $835.80M. Over the last one years, TRGP's earnings have gone up by -6.58% per year. This was slower than the Oil & Gas Midstream industry average of 21.16%.
Last year, TRGP revenue was $16.06B. Over the last 5 year, TRGP's revenue has grown by 8.9% per year. This was faster than the Oil & Gas Midstream industry average of 8.23%.
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.
Julie H. Boushka, Senior VP and CAO of TRGP, was the latest TRGP insider to sell. They sold $1,009,600.00 worth of TRGP stock on Mar 5, 2024.
Learn more about who owns TRGP shares here.
Can I get consistent income from TRGP stock?
Targa Resources pays a dividend of 1.71%, compared to the Oil & Gas Midstream industry's average dividend yield of 5.94%. If you owned $1,000 worth of TRGP stock, you would have received $17.11 last 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.
What do other traders have to say about TRGP?
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 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.
If you want additional help investing in stocks on eToro, watch the helpful video below:
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:
- 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 are looking for a brokerage, eToro is our recommended venue.
Get Started with eToro TodayIf you would like to watch your new investment in Targa Resources, create a watchlist on WallStreetZen today.
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