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Targa Resources Corp. is a Fortune 500 company based in Houston, Texas, that provides midstream services to the energy infrastructure industry. Founded in 2005, Targa has grown to become one of the largest independent midstream infrastructure companies in North America. The company offers a diversified portfolio of assets focused on gathering, processing, storage, and transportation of natural gas and natural gas liquids (NGLs). Targa also owns and operates crude oil gathering systems, NGL fractionation facilities, condensate stabilization plants, and other related assets.
In addition to its core business activities, Targa has expanded into other areas, such as renewable energy production and power generation. The company is committed to providing reliable energy solutions while minimizing environmental impacts by using advanced technologies and best practices.
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Targa Resources Stock Key Features
- Targa Resources has a consensus rating of “Buy” from 14 analysts, according to MarketBeat.
- The Teacher Retirement System of Texas recently reduced its exposure to Targa Resources due to evolving market conditions.
- The stock price for Targa Resources on June 20, 2023 traded around $70.50 per share, roughly 50% less than the stock’s all-time high
- Targa Resources has a strong presence in the midstream oil and gas sector, with a focus on gathering, processing, and transporting natural gas and natural gas liquids.
- Targa Resources has a history of growing its dividend payouts, making it an attractive option for those focused on consistent income streams.
Targa Resources Stock Over the Years – Review
Over the last five years, Targa Resources stock experienced significant fluctuations, primarily driven by market conditions and global events. In 2019, the stock slid below $40, while in 2020, the Covid-19 pandemic caused a sharp decline to under $10 before recovering above $25.
The upward trend continued in 2021, taking the stock above $50. In 2022, the stock price soared following increased average natural gas prices worldwide due to the Russian invasion of Ukraine and subsequent Western sanctions. Finally, 2023 saw a stable trajectory, with the stock trading between $67 and $79.
Targa Resources Stock in 2023
Targa Resources Corp. (NYSE: TRGP) has seen a stable trajectory in its stock price in 2023, ranging between $67 and $79.
The Teacher Retirement System of Texas recently reduced its exposure to Targa Resources due to evolving market conditions. Wall Street analysts have issued 1-year price targets for Targa Resources’ stock ranging from $92 to $115 per share.
Targa Resources Stock in 2022
In 2022, Targa Resources Corp. (TRGP) saw a significant jump in its stock price following an increase in the average natural gas price worldwide. This was due to the Russian invasion of Ukraine and the subsequent Western sanctions against Moscow. The stock reached a high of nearly $80 before settling into a sideways pattern.
The company had strong financials during this period, with revenue increasing from $6.9 billion in 2021 to $7.3 billion in 2022 and net income increasing from $1.2 billion to $1.4 billion over the same period. Additionally, Targa Resources’ return on equity increased from 8% to 10%, while its debt-to-equity ratio decreased from 0.7x to 0.5x over the same period.
Targa Resources Stock in 2021
Targa Resources Corp. (TRGP) has seen a strong performance in 2021, with the stock price rising above $50. This increase is largely attributed to the company’s strong financial performance in 2020 and its continued growth into 2021.
In 2021, Targa Resources reported an increase in net income of 6% compared to 2020, as well as a 5% increase in operating cash flow. Additionally, the company saw an 11% rise in total revenues for the year, which was driven by higher natural gas prices and increased production volumes from its midstream operations.
The company also made several strategic investments during 2021 that have helped to further strengthen its position in the energy market.
Targa Resources Stock in 2020
The stock opened in 2020 at $19.68 and experienced a sharp decline in March due to the Covid-19 pandemic. At its lowest point, the stock price dropped below $10 per share. However, by the end of the year, it had recovered much of its value and was trading above $25 per share.
Throughout 2020, Targa Resources Corp. saw significant volatility in its stock price. It then began to climb steadily throughout the second half of the year and ended December at a spectacular from its low in March.
Overall, Targa Resources Corp.’s stock price was highly volatile in 2020 due to the effects of Covid-19 on global markets and energy prices.
Targa Resources Stock in 2019
The stock opened the year 2019 above $40. However, by the end of the year, it had dropped below this level. Throughout 2019, Targa Resources saw its share price fluctuate between a low of $30.45 and a high of $44.02.
On average, Targa Resources traded at $37.41 per share during 2019, with a total market capitalization of approximately $7 billion. In terms of performance, Targa Resources underperformed the S&P 500 index, which gained 28% in 2019 compared to Targa’s 4%.
The most common way to add Targa Resources to your portfolio is by acquiring stocks through a broker or online trading platform. The stock price for Targa Resources (TRGP) can be found on websites such as Yahoo Finance and Bloomberg. It’s also possible to purchase options contracts, which provides the right to trade shares at a predetermined price on or before a certain date.
Another option for adding exposure to Targa Resources is through Contracts for Difference (CFDs). CFDs are agreements between two parties that allow the speculation of the future price movements of an asset without actually owning it. CFDs are generally used by more experienced traders who understand the risks.
Finally, it’s possible to also purchase exchange-traded funds (ETFs) that track the performance of natural gas prices, including positions on Targa Resources. ETFs are baskets of securities that trade like stocks on exchanges and provide diversified exposure to multiple stocks within an industry or sector.
No matter what your philosophy on stocks is, there are many different ways to add Targa Resources Corp. to your portfolio, from purchasing shares directly to using derivatives such as options and CFDs. It is important to do your research and understand the risks associated with each method before making any decisions.
One great way to do that is by exploring eToro, a user-friendly online brokerage platform.
Shares of Targa Resources can be acquired via multiple trading platforms or internet-based brokerage services. Nevertheless, it’s crucial to take into account expenses, tax implications, and investment resources. For illustration purposes, we’ll discuss eToro as a case in point.
Step 1: Open an Account
Firstly, navigate to eToro’s main page and select the ‘Sign-up’ option. The registration page will appear within moments. Consequently, you’ll need to provide your name, email, and password. Alternatively, you can create an account using your Facebook or Google credentials.
Step 2: Upload ID
In this phase, you’ll need to authenticate your identity. Participants are required to submit evidence of their identity (POI) and residential address (POA). Acceptable POI documents include an ID card, passport, or driver’s license. The POA must display the user’s complete name, address, and date, and it should have been issued no more than three months earlier.
Step 3: Make a Deposit
Once your account has been successfully verified, it’s time to add funds to your profile. To do this, access eToro’s menu and select the ‘Deposit Funds’ option. From there, you can choose the sum you wish to allocate to Targa Resources shares, as well as your preferred currency and payment method.
Step 4: Search for Targa Resources
To locate Targa Resources shares, enter ‘TRGP’ in the search bar. If you’re unsure of the stock’s ticker symbol, simply input the initial letters. eToro’s user-friendly platform will quickly present the most relevant results.
Step 5: Select Targa Resources
Upon choosing TRGP, adding it to your portfolio via eToro becomes a breeze. By clicking the ‘Invest’ button, you can decide on the amount of money you want to spend on Targa shares or the number of Targa Resources shares to add to your portfolio. Once the process is complete, you’ll be able to view your newly acquired holdings in your portfolio.
Summary
Targa Resources Corp. (TRGP) is a leading midstream oil and gas provider with a focus on gathering, processing, and transporting natural gas and natural gas liquids (NGLs). In the past five years, TRGP’s stock price has seen significant fluctuations due to market conditions and global events, but in 2023, it has seen a more stable trajectory. Analysts have given Targa Resources a consensus rating of “Buy” according to MarketBeat.
In conclusion, TRGP has been highly volatile over the past five years, but in 2023 it is trading between $67 and $79. Analysts are bullish on the stock, with price targets of up to $115 per share for the next 12 months.
FAQ
At Targa Resources, the average salary ranges from approximately $78,916 per year for a Process Operator to $214,485 per year for a Manager. The average estimated annual salary, including base and bonus, is $122,262. Plant Operators earn an average of $67,454 annually. The national average salary for a Targa Resources employee in the United States is $50,337 per year.
Targa Resources Partners LP is a Delaware limited partnership formed by its parent, TRGP. Since then, Targa has established multiple partnerships with companies across the energy sector. In 2016, Targa completed the acquisition of all outstanding common units of the Partnership. In 2021, Targa Resources Corp. and Targa Resources Partners announced Form 10-Ks available. Additionally, in 2021 Targa Resources Partners LP announced a $750 million offering of senior notes.
Adding any stock to your portfolio carries certain risks, and Targa Resources is no exception. It’s important to do research and understand the fundamentals of the company. Analysts have given Targa Resources a consensus rating of “Buy,” according to MarketBeat, which indicates positive views among experts within the industry. Furthermore, Targa’s stock price has seen favorable market conditions and a more stable trajectory in 2023, suggesting that it could be an attractive option as a portfolio diversifier. However, it is important to remember that stock prices can fluctuate significantly due to global events or changes in the oil and gas industry.
Targa Resources operates in the midstream energy sector, and some of the major competitors in this industry include Enterprise Products Partners L.P., Kinder Morgan Inc., Energy Transfer L.P., ONEOK Inc., and Williams Companies Inc. These companies, like Targa Resources, are involved in the gathering, processing, transportation, and storage of natural gas, crude oil, and natural gas liquids.
Stocks of any company carry a certain level of risk. Targa Resources is no exception. When considering Targa Resources, it is important to understand the risks associated with the company and its stock. Targa Resources is a midstream energy infrastructure corporation, which means that it operates in a highly regulated industry and is subject to changes in government regulations, commodity prices, and other economic factors.
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