Stock TRGP TARGA RESOURCES CORP.
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Financials Targa Resources Corp.

Equities

TRGP

US87612G1013

Oil & Gas Transportation Services

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
116.9 USD -0.70% Intraday chart for Targa Resources Corp. +3.49% +34.52%
Apr. 22 RBC Raises Price Target on Targa Resources to $123 From $109, Keeps Outperform Rating MT
Apr. 22 RBC Capital Adjusts Targa Resources Price Target to $123 From $109 MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 9,505 6,041 11,961 16,639 19,370 26,005 - -
Enterprise Value (EV) 1 16,996 13,554 18,400 27,956 32,182 39,416 39,089 38,872
P/E ratio -28.4 x -3.63 x -746 x 18.9 x 23.7 x 21.9 x 17 x 15 x
Yield 8.92% 1.52% 1.44% 1.9% 2.3% 2.57% 3.09% 3.53%
Capitalization / Revenue 1.1 x 0.73 x 0.71 x 0.79 x 1.21 x 1.28 x 1.15 x 1.28 x
EV / Revenue 1.96 x 1.64 x 1.09 x 1.34 x 2 x 1.94 x 1.72 x 1.91 x
EV / EBITDA 11.8 x 8.28 x 8.97 x 9.64 x 9.12 x 10.2 x 9.23 x 8.6 x
EV / FCF -11.4 x 17.1 x 10.2 x 26.7 x 82 x 79.1 x 23.2 x 23.5 x
FCF Yield -8.76% 5.85% 9.77% 3.74% 1.22% 1.26% 4.3% 4.26%
Price to Book 1.93 x 2.2 x 5.72 x 5.9 x 7.06 x 8.08 x 6.89 x -
Nbr of stocks (in thousands) 232,786 229,013 228,972 226,375 222,976 222,535 - -
Reference price 2 40.83 26.38 52.24 73.50 86.87 116.9 116.9 116.9
Announcement Date 2/20/20 2/18/21 2/24/22 2/22/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 8,671 8,260 16,950 20,930 16,060 20,284 22,699 20,359
EBITDA 1 1,436 1,637 2,052 2,901 3,530 3,850 4,237 4,521
EBIT 1 192.9 -1,304 864.8 1,729 2,626 2,596 2,941 3,138
Operating Margin 2.22% -15.78% 5.1% 8.26% 16.35% 12.8% 12.96% 15.41%
Earnings before Tax (EBT) 1 -46.7 -1,573 436.9 1,663 1,942 1,892 2,218 2,287
Net income 1 -334 -1,685 -16.1 896.8 835.8 1,213 1,514 1,745
Net margin -3.85% -20.4% -0.09% 4.28% 5.2% 5.98% 6.67% 8.57%
EPS 2 -1.440 -7.260 -0.0700 3.880 3.660 5.347 6.880 7.792
Free Cash Flow 1 -1,488 792.9 1,798 1,046 392.7 498 1,682 1,655
FCF margin -17.16% 9.6% 10.61% 5% 2.45% 2.46% 7.41% 8.13%
FCF Conversion (EBITDA) - 48.45% 87.61% 36.07% 11.12% 12.93% 39.7% 36.61%
FCF Conversion (Net income) - - - 116.69% 46.98% 41.06% 111.14% 94.84%
Dividend per Share 2 3.640 0.4000 0.7500 1.400 2.000 3.001 3.608 4.127
Announcement Date 2/20/20 2/18/21 2/24/22 2/22/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 4,460 5,442 4,959 6,056 5,360 4,555 4,520 3,404 3,897 4,240 4,328 4,305 4,596 5,005 5,577
EBITDA 1 505.9 570.6 625.8 666.4 768.6 840.4 940.6 789.1 840.2 959.9 939.5 919.1 958.7 1,027 1,045
EBIT 1 366.5 -91.5 295.8 451.9 430 551.3 836.7 649.1 505.1 635.3 636.8 609.5 645.1 720.3 737.9
Operating Margin 8.22% -1.68% 5.96% 7.46% 8.02% 12.1% 18.51% 19.07% 12.96% 14.99% 14.71% 14.16% 14.04% 14.39% 13.23%
Earnings before Tax (EBT) 1 290 -257.9 191.5 774.7 291.3 405.7 665.5 483.9 332.9 460.1 480.4 430.5 461.5 548.6 557.6
Net income 1 160.4 -335.4 13.1 372.7 193.1 317.9 6.3 329.3 220 280.2 288.6 265.9 312.9 370.3 412.3
Net margin 3.6% -6.16% 0.26% 6.15% 3.6% 6.98% 0.14% 9.67% 5.65% 6.61% 6.67% 6.18% 6.81% 7.4% 7.39%
EPS 2 0.6600 -1.410 0.0600 1.610 0.8400 1.370 0.0300 1.440 0.9700 1.220 1.316 1.252 1.396 1.601 1.541
Dividend per Share 2 0.1000 0.3500 0.3500 0.3500 0.3500 0.3500 0.5000 0.5000 0.5000 0.5000 0.7500 0.7500 0.7500 0.7500 0.9300
Announcement Date 11/4/21 2/24/22 5/5/22 8/4/22 11/3/22 2/22/23 5/4/23 8/3/23 11/2/23 2/15/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 7,491 7,513 6,439 11,317 12,812 13,411 13,084 12,866
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.219 x 4.591 x 3.138 x 3.901 x 3.629 x 3.483 x 3.088 x 2.846 x
Free Cash Flow 1 -1,488 793 1,798 1,047 393 498 1,682 1,655
ROE (net income / shareholders' equity) -6.07% -44.5% -0.69% 38.3% 30.9% 29.1% 29.9% 27.2%
ROA (Net income/ Total Assets) -1.87% -9.71% -0.21% 5.16% 4.15% 4.3% 6.5% 7.6%
Assets 1 17,876 17,345 7,692 17,384 20,116 28,207 23,285 22,967
Book Value Per Share 2 21.10 12.00 9.130 12.40 12.30 14.50 17.00 -
Cash Flow per Share 2 5.980 7.510 10.10 10.30 14.20 15.40 16.30 15.70
Capex 1 2,878 952 505 1,334 2,385 2,482 1,734 1,722
Capex / Sales 33.19% 11.52% 2.98% 6.38% 14.85% 12.24% 7.64% 8.46%
Announcement Date 2/20/20 2/18/21 2/24/22 2/22/23 2/15/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Targa Resources Corp.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
22
Last Close Price
116.9 USD
Average target price
120.4 USD
Spread / Average Target
+3.04%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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