Stock Analysis
Targa Resources Corp.TRGP
P/E 27.89×· 5Y range 18.39–1,463.94×· 29th percentile of history
Sector: Utilities · Industry: Natural Gas Transmission
AnalystsStrong Buy31 analystsP/E 27.9× sits at the 29th percentile of its 5.086926762491444-year history.
Cash covers 1% of debt · FY 2025.
PMP Verdict
Mixed fundamentals, fairly valued
Strengths
- Profitability85
- Growth76
Risks
- Financial Health28
Mixed picture — no clear quality or value edge.
Market context
+4.4% today· Z 1.6σ· Citigroup maintained a Buy rating on TRGP and raised its price target to $325.
Bull Case
- ✓ROE 73.9% — efficient capital deployment
Why is TRGP moving?
SectorCitigroup maintained a Buy rating on TRGP and raised its price target to $325.
Profile
Strong profitability and growth; moat and financial health lag behind.
How is each axis scored?
- Valuation57/100 · Moderate
- P/E vs own history (29th pct)20/25
- FCF yield (1.2%)5/25
- P/S (3.7x)20/25
- EV/EBIT (20.5x)12/25
- Growth76/100 · Strong
- Revenue CAGR (0.1%)6/25
- Net income CAGR (128.0%)25/25
- EPS CAGR 5Y (131.0%)25/25
- Fwd implied growth (15.6%)20/25
- Profitability85/100 · Strong
- ROIC (15.5%)20/25
- ROE (73.9%)25/25
- Net margin (13.5%)20/25
- Operating margin (22.9%)20/25
- Financial Health28/100 · Weak
- Altman Z (2.88)18/25
- Current ratio (0.67)0/25
- Interest coverage (4.0x)10/25
- Net cash / debt (D/A 65%)0/25
- Quality54/100 · Moderate
- Piotroski F (6/9)15/25
- Beneish M (-2.96)25/25
- FCF conversion (33%)8/25
- Margin stability (σ 24.0%)6/25
- Moat23/100 · Weak
- ROIC >12% years (2/10 yrs)0/25
- Median gross margin (31.5%)13/25
- FCF-positive years (7/10 yrs)10/25
- Worst-year net margin (worst -18.8%)0/25
Risk Flags
- ⚠3 loss-making years in recent history
About Targa Resources Corp.
Targa Resources Corp is a midstream firm that mainly operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. Show more
It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset. It has two operating segments: Gathering and Processing, and, Logistics and Transportation (also referred to as the Downstream Business).
Headquarters: HOUSTON, TX · Employees: 3,570 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
57CP/E (TTM)27.3xC
Grade C: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 18.4x–1463.9x · 29th pct
P/FCF68.6xD
Grade D: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
FCF Yield1.2%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: 0.4%–17.4% · 7th pct · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
P/S (TTM)3.70xB
Grade B: FairPrice / TTM Revenue (own statements) — vs own 5Y history: 0.6x–3.9x · highest in history
EV/EBIT20.5xC
Grade C: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 14.4x–68.9x · 37th pct
EV/Sales4.8xB
Grade B: FairEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E23.6xB
Grade B: FairPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio20.20xD
Grade D: Very expensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio1.43B
Grade B: FairFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield1.52%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio40.6%A
Grade A: SafeDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Heavy investment: Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
Profitability
85AROIC15.5%A
Grade A: MoatNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE73.9%A
Grade A: StrongReturn on Equity. Neg. equity = heavy buybacks
ROA8.6%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin13.5%A
Grade A: HighNet Income / Revenue
Operating Margin22.9%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin43.2%C
Grade C: AverageGross Profit / Revenue
FCF Margin4.4%D
Grade D: LowFCF / Revenue · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
True FCF Margin4.0%D
Grade D: LowTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
Growth
76B+Revenue CAGR0.1%D
Grade D: LowCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR128.0%A
Grade A: HighCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)131.0%A
Grade A: HighCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth15.6%C
Grade C: MedAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-7.1%A
Grade A: BuybacksShare count change over 5Y
SBC / Net Income3.4%A
Grade A: LowStock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.5%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
28EAltman Z-Score2.88C
Grade C: Gray zoneBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio0.67xD
Grade D: LowCurrent Assets/Liabilities
Quick Ratio0.68xC
Grade C: Ok(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage4.0xC
Grade C: OkEBIT/Interest. >10 Strong
Debt Repayment22.3yD
Grade D: SlowYears to repay net debt via FCF · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
Net Debt/EBIT4.3xD
Grade D: HighLeverage. <2x Low, >4x High
Debt/Equity5.43xD
Grade D: HighDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.01xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
54CPiotroski F-Score6/9C
Grade C: AverageFinancial strength 0–9. >7 Strong
Beneish M-Score-2.96A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion32.7%D
Grade D: PoorFCF / Net Income · Heavy investment cycle — CapEx = 83% of operating cash flow, significantly depressing reported FCF
Margin Stability24.0%D
Grade D: VolatileEBIT margin std deviation. Lower = stable
Capex / Revenue21.2%D
Grade D: HeavyTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.64xC
Grade C: AverageRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Perkins Joe Bob Filed | Perkins Joe Bob | Gift | -8370 | |
Secrest Brent B. Filed | Secrest Brent B. | Grant / award | +10.0K | |
Chung Paul W Filed | Chung Paul W | SellOpen market sale | -816 | |
Chung Paul W Filed | Chung Paul W | SellOpen market sale | -1000 | |
CRISP CHARLES R Filed | CRISP CHARLES R | SellOpen market sale | -3000 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
CRISP CHARLES R Filed | CRISP CHARLES R | Gift | -1200 | |
Davis Waters S IV Filed | Davis Waters S IV | SellOpen market sale | -590 | |
Davis Waters S IV Filed | Davis Waters S IV | SellOpen market sale | -270 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
23EROIC >12% Years2/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)31.5%C
Grade C: ModerateMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years7/10 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor-18.8%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$10.57
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$0.62
Cash & short-term investments per share (Finnhub)
Book Value / Share$17.05
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$16.66B
Total debt obligations (short + long term)
Cash & Equiv.$166.10M
Cash and short-term investments
Net Debt$16.50B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$3.07B
Shareholders' equity (book value)
Asset / Liability1.14xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$61.97B
Current Market Capitalization
Beta0.78B
Grade B: DefensivePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: Targa Resources Corp. (TRGP)
TRGP is up 4.37% at the last close — Citigroup maintained a Buy rating on TRGP and raised its price target to $325.. Piotroski F-Score of 6/9 indicates mixed fundamentals for Targa Resources Corp.. Altman Z-Score of 2.88 falls in the grey zone (1.81–2.99) — financial distress is unlikely but not ruled out. Beneish M-Score of -2.96 suggests a low likelihood of earnings manipulation.
- Takes ~22.3 years to repay net debt from free cash flow.
- Targa Resources Corp. posted a net loss in 3 of 10 available completed fiscal years (2016–2025).
- Return on equity of 73.9% is well above the market average.
See how TRGP ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all TRGP moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 16 | Regular | 292.87 | +3.65% | 2.45 |
| Oct 15 | Regular | 280.91 | -3.44% | -2.41 |
| Oct 15 | After-hours | 282.55 | -2.87% | -2.02 |
| Oct 1 | Regular | 277.69 | +2.73% | 2.82 |
| Sep 22 | After-hours | 269.73 | -6.78% | -5.15 |
Frequently Asked Questions about TRGP
What is the current Targa Resources Corp. (TRGP) stock price?
TRGP is trading at $294.90 at the last market close, up 4.37% on the session. PreMarketPrice tracks TRGP pre-market, intraday and after-hours prices.
Is TRGP stock a buy right now?
PreMarketPrice's quantitative model rates Targa Resources Corp.'s financial health at 28/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is TRGP stock overvalued?
Targa Resources Corp. trades at a trailing P/E of 27.3 and our valuation score rates it 57/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Targa Resources Corp. report earnings?
No confirmed earnings date is currently scheduled for TRGP. The Earnings section lists recent reports and updates as dates are announced.
What sector does Targa Resources Corp. operate in?
Targa Resources Corp. operates in the Utilities sector, within the Natural Gas Transmission industry. The Related Stocks section lists sector peers for comparison.
What does Targa Resources Corp. do?
Targa Resources Corp is a midstream firm that mainly operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays.
About Targa Resources Corp. (TRGP) Stock
Targa Resources Corp. (TRGP) is a US-listed stock operating in the Utilities sector, specifically the Natural Gas Transmission industry. As of the latest update, Targa Resources Corp. is trading at $294.90, up 4.37% on the day with a market capitalization of $62.0 billion. The financial health score for TRGP is 28/100, which indicates poor financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for TRGP stock.
TRGP Stock Analysis & Key Metrics
On PreMarketPrice, you can track Targa Resources Corp. (TRGP) across multiple dimensions:
- Pre-market price & movement: Real-time TRGP stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for TRGP with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Targa Resources Corp. across multiple reporting periods.
- Financial health score: A composite score of 28/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for TRGP.
- Sector peers: Compare TRGP against 6 other utilities stocks on key financial metrics.
Is TRGP a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Targa Resources Corp. (TRGP) as an investment. The financial health score of 28/100 suggests poor financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Targa Resources Corp. (TRGP) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.