Targa Resources Corp. (TRGP) is a publicly traded company in the Energy — Oil & Gas Midstream industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
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.
Analysis Summary
Targa Resources Corp. reported revenue of $17.14B in the most recent fiscal year, growing at a 5-year CAGR of 15.7%.
Trailing-twelve-month margins: gross margin 36.6%, operating margin 23.1%, net margin 13.5%. Free cash flow grew at -5.9% CAGR over 5 years.
At the current price of $285.07, TRGP trades at a P/E of 26.49 and an ROE of 72.08%. Market capitalisation stands at $61.2B, placing it among large-cap names.
Balance sheet quality for TRGP: current ratio of 0.7, net debt of $17.38B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of $584.1M represents 32% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Price
| Price | $285.07 |
| Market Cap | $61.2B |
| Exchange | NYSE |
| Country | US |
Valuation Ratios
| P/E Ratio | 26.49 |
| Price / Book | 16.40 |
| EV / EBITDA | 16.93 |
| Dividend Yield | 1.61% |
Profitability
| Return on Equity | 72.08% |
| Return on Invested Capital | 14.09% |
| Return on Assets | 7.94% |
| Gross Margin | 36.56% |
| Operating Margin | 23.13% |
| Net Margin | 13.49% |
Financial Health
| Debt / Equity | 5.51 |
| Current Ratio | 0.77 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 2.28 |
What to look at in Energy companies
- FCF yield (>8%) — Cash generated / market cap. In energy FCF beats EPS.
- ROIC 5y avg (>=10%) — Include good and bad years to filter the truly disciplined.
- Positive FCF in 8 of last 10y (>=8/10) — Disciplined names (XOM, CVX, EOG) survive 2014-16 and 2020 crashes.
- Dividend coverage (FCF / div) (>=1.2x) — Dividend covered by FCF, not borrowed. <1x = likely cut.
- Net Debt / EBITDA (<2x at peak) — Look at it with trough EBITDA, not the peak.
- Capex / Revenue (10-20% healthy) — Energy needs aggressive reinvestment to maintain reserves.
Peer Comparison
| Symbol | Company | Market Cap | P/E | P/B | ROE |
|---|---|---|---|---|---|
| TRGP | Targa Resources Corp. | $61.2B | 26.49 | 16.40 | 72.1% |
| FANG | Diamondback Energy, Inc. | $55.4B | 36.51 | 1.39 | 4.2% |
| PAA | Plains All American Pipeline, L.P. | $17.9B | |||
| ET | Energy Transfer LP | $72.4B | 12.98 | 2.04 | 16.8% |
| OXY | Occidental Petroleum Corporation | $59.0B | 8.65 | 1.37 | 19.0% |
| OKE | ONEOK, Inc. | $58.7B | 15.39 | 2.46 | 16.3% |
| CVE | Cenovus Energy Inc. | $60.7B | 12.63 | 2.48 | 21.0% |
| EQT | EQT Corporation | $31.5B | 10.76 | 1.21 | 11.7% |
Price Performance
| 1 month | -4.67% |
| 3 months | +9.53% |
| Year-to-date | +53.51% |
| 1 year | +66.49% |
| 3 years | +232.62% |
52-Week Range
| 52-week High | $307.94 |
| 52-week Low | $144.14 |
| Avg Volume (90d) | 1.2M |
Dividend History
| Date | Amount | Yield |
|---|---|---|
| 2026-07-31 | $1.2500 | 1.75% |
| 2026-04-30 | $1.2500 | 1.75% |
| 2026-01-30 | $1.0000 | 1.40% |
| 2025-10-31 | $1.0000 | 1.40% |
| 2025-07-31 | $1.0000 | 1.40% |
| 2025-04-30 | $1.0000 | 1.40% |
| 2025-01-31 | $0.7500 | 1.05% |
| 2024-10-31 | $0.7500 | 1.05% |
| 2024-07-31 | $0.7500 | 1.05% |
| 2024-04-29 | $0.7500 | 1.05% |
Related companies: CQP · CVE · EQT · ET · FANG · OKE · OXY
Explore sector: Energy · Oil & Gas Midstream
More sections of TRGP: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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