Targa Resources Corp. (TRGP) Stock

About Targa Resources Corp.

Targa Resources Corp., alongside its subsidiary Targa Resources Partners LP, is a significant entity in the North American midstream energy sector, focusing on the ownership, operation, acquisition, and development of crucial energy infrastructure assets. Its business is structured into two main divisions: "Gathering and Processing" and "Logistics and Transportation." Within these segments, the company undertakes a broad range of activities, including the collection, compression, treatment, processing, transport, and sale of natural gas. It also manages the storage, fractionation, treatment, transportation, and distribution of natural gas liquids (NGLs) and their associated products, providing services even to liquefied petroleum gas (LPG) exporters. Furthermore, Targa handles the gathering, storage, terminaling, purchasing, and selling of crude oil. Beyond these core operations, the company is involved in the procurement and resale of NGL products, wholesale propane distribution, and providing related logistics support to a diverse clientele, including multi-state retailers, independent businesses, and end-users. It also offers NGL balancing services and transportation solutions for refineries and petrochemical companies situated in the Gulf Coast region, while actively purchasing, marketing, and reselling natural gas. The company's extensive asset base features approximately 28,400 miles of natural gas pipelines, including 42 owned and managed processing plants, and it operates 34 storage wells with a substantial gross capacity of about 76 million barrels. As of December 31, 2021, its transportation fleet comprised approximately 648 leased and managed railcars, 119 transport tractors, and two company-owned pressurized NGL barges. Targa Resources Corp. was established in 2005 and is headquartered in Houston, Texas.

Targa Resources Corp. is led by CEO Matthew J. Meloy, employs 3,370 people, headquartered in Houston, US, publicly traded since 2010.

Targa Resources Corp. (TRGP) stock trades at $264.67 with a market capitalization of $56.81B. The stock is valued at a price-to-earnings (P/E) ratio of 27.31, price-to-book of 18.46, price-to-sales of 3.53. Over the past 52 weeks the stock has ranged between $144.14 and $290.67, and currently trades 8.9% below its 52-week high. It pays a dividend yielding 1.86%.

On profitability, Targa Resources Corp. generates a return on equity (ROE) of 73.92% — well above the market average, a sign of a high-quality business, return on capital employed of 14.58%, an operating margin of 21.11%, a net profit margin of 12.98%.

In its most recent fiscal year, Targa Resources Corp. reported annual revenue of $17.1B, net profit of $1.8B, revenue has compounded at 15.7% a year over the last five years.

The balance sheet shows a debt-to-equity ratio of 6.10 — a leveraged balance sheet worth monitoring, a current ratio of 0.72, total assets of $25.2B, $166.0M in cash and equivalents.

TRGP has an average daily trading volume of 1,224,836 shares, a beta of 0.70 (less volatile than the overall market).

Official website: www.targaresources.com