Overview Dividends

(TRGP) Targa Resources - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US87612G1013

Natural Gas, Natural Gas Liquids, Crude Oil, Propane, Petrochemical Feedstocks

Oil & Gas Storage & Transportation
Market Cap in USD: 39,359m

IPO / Inception: 2010-12-07
Return 12m vs S&P 500: -11.4%

EPS (Earnings per Share)

EPS CAGR: 46.40%
EPS Trend: 53.8%

Last SUE: 0.14
Qual. Beats: 0

Revenue

Rev. CAGR: -6.66%
Rev. Trend: -49.9%

Last SUE: -1.00
Qual. Beats: 0

Dividends

Dividend Yield	2.05%
Yield on Cost 5y	16.10%
Yield CAGR 5y	22.78%
Payout Consistency	89.9%
Payout Ratio	48.5%

Risk via 5d forecast
Volatility	27.6%
Value at Risk 5%th	47.7%
Relative Tail Risk	4.95%

Reward TTM
Sharpe Ratio	0.16
Alpha	-12.88
CAGR/Max DD	1.23

Character TTM
Hurst Exponent	0.371
Beta	1.018
Beta Downside	1.743

Drawdowns 3y
Max DD	31.61%
Mean DD	8.38%
Median DD	4.48%

Description: TRGP Targa Resources December 03, 2025

Targa Resources Corp. (NYSE: TRGP) and its subsidiary, Targa Resources Partners LP, own and operate a diversified set of midstream infrastructure assets across North America, organized into two primary segments: Gathering & Processing and Logistics & Transportation.

The firm’s activities span the full value chain of natural gas and natural gas liquids (NGL), including gathering, compressing, treating, processing, storing, fractionating, and transporting these commodities, as well as the purchase, resale, and marketing of NGL products and propane. It also provides terminaling and logistics services to Gulf Coast refineries and petrochemical plants, and manages a fleet of roughly 531 railcars, 131 tractors, 6 vacuum trucks, 2 pressurized NGL barges, plus 8 owned tractors as of 12/31/2024.

Key operating metrics that analysts watch include: (1) Adjusted EBITDA of $1.12 billion in 2023, reflecting strong cash flow generation; (2) Total NGL processing capacity of ~1.1 million barrels per day, positioning Targa to capture upside from rising NGL demand driven by petrochemical feedstock needs; and (3) Exposure to regional natural-gas price spreads, which have widened by ~15 % year-over-year, supporting margin expansion in the Gathering & Processing segment.

For a deeper dive into TRGP’s valuation and risk profile, the ValueRay analysis offers a concise, data-driven overview worth reviewing.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (1.65b TTM) > 0 and > 6% of Revenue (6% = 1.05b TTM)

FCFTA 0.03 (>2.0%) and ΔFCFTA 1.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -3.82% (prev -3.68%; Δ -0.14pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.15 (>3.0%) and CFO 3.74b > Net Income 1.65b (YES >=105%, WARN >=100%)

Net Debt (17.31b) to EBITDA (4.64b) ratio: 3.73 <= 3.0 (WARN <= 3.5)

Current Ratio 0.77 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (216.0m) change vs 12m ago -1.82% (target <= -2.0% for YES)

Gross Margin 22.30% (prev 20.69%; Δ 1.61pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 75.90% (prev 74.41%; Δ 1.49pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.85 (EBITDA TTM 4.64b / Interest Expense TTM 814.5m) >= 6 (WARN >= 3)

Altman Z'' 1.10

(A) -0.03 = (Total Current Assets 2.28b - Total Current Liabilities 2.95b) / Total Assets 24.17b

(B) 0.08 = Retained Earnings (Balance) 1.97b / Total Assets 24.17b

(D) 0.09 = Book Value of Equity 2.02b / Total Liabilities 21.34b

Total Rating: 1.10 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 56.79

1. Piotroski 6.0pt

2. FCF Yield 1.14%

3. FCF Margin 3.68%

4. Debt/Equity 6.44

5. Debt/Ebitda 3.73

6. ROIC - WACC (= 6.24)%

7. RoE 63.85%

8. Rev. Trend -49.92%

9. EPS Trend 53.83%

What is the price of TRGP shares?

As of December 29, 2025, the stock is trading at USD 182.90 with a total of 302,373 shares traded.
Over the past week, the price has changed by +0.13%, over one month by +4.33%, over three months by +8.89% and over the past year by +5.17%.

Is TRGP a buy, sell or hold?

Targa Resources has received a consensus analysts rating of 4.59. Therefore, it is recommended to buy TRGP.

Strong Buy: 14
Buy: 7
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the TRGP price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	209.4	14.5%
Analysts Target Price	209.4	14.5%
ValueRay Target Price	241.7	32.1%

TRGP Fundamental Data Overview December 28, 2025

Market Cap USD = 39.36b (39.36b USD * 1.0 USD.USD)
P/E Trailing = 24.6164
P/E Forward = 20.0
P/S = 2.2648
P/B = 14.5704
P/EG = 1.2282
Beta = 0.891
Revenue TTM = 17.49b USD
EBIT TTM = 3.13b USD
EBITDA TTM = 4.64b USD
Long Term Debt = 16.47b USD (from longTermDebt, last quarter)
Short Term Debt = 689.3m USD (from shortTermDebt, last quarter)
Debt = 17.43b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 17.31b USD (from netDebt column, last quarter)
Enterprise Value = 56.57b USD (39.36b + Debt 17.43b - CCE 223.9m)
Interest Coverage Ratio = 3.85 (Ebit TTM 3.13b / Interest Expense TTM 814.5m)
FCF Yield = 1.14% (FCF TTM 642.8m / Enterprise Value 56.57b)
FCF Margin = 3.68% (FCF TTM 642.8m / Revenue TTM 17.49b)
Net Margin = 9.44% (Net Income TTM 1.65b / Revenue TTM 17.49b)
Gross Margin = 22.30% ((Revenue TTM 17.49b - Cost of Revenue TTM 13.59b) / Revenue TTM)
Gross Margin QoQ = 23.28% (prev 22.18%)
Tobins Q-Ratio = 2.34 (Enterprise Value 56.57b / Total Assets 24.17b)
Interest Expense / Debt = 1.27% (Interest Expense 221.3m / Debt 17.43b)
Taxrate = 21.63% (134.3m / 620.9m)
NOPAT = 2.46b (EBIT 3.13b * (1 - 21.63%))
Current Ratio = 0.77 (Total Current Assets 2.28b / Total Current Liabilities 2.95b)
Debt / Equity = 6.44 (Debt 17.43b / totalStockholderEquity, last quarter 2.71b)
Debt / EBITDA = 3.73 (Net Debt 17.31b / EBITDA 4.64b)
Debt / FCF = 26.92 (Net Debt 17.31b / FCF TTM 642.8m)
Total Stockholder Equity = 2.58b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.83% (Net Income 1.65b / Total Assets 24.17b)
RoE = 63.85% (Net Income TTM 1.65b / Total Stockholder Equity 2.58b)
RoCE = 16.44% (EBIT 3.13b / Capital Employed (Equity 2.58b + L.T.Debt 16.47b))
RoIC = 13.32% (NOPAT 2.46b / Invested Capital 18.44b)
WACC = 7.08% (E(39.36b)/V(56.79b) * Re(9.77%) + D(17.43b)/V(56.79b) * Rd(1.27%) * (1-Tc(0.22)))
Discount Rate = 9.77% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.19%
[DCF Debug] Terminal Value 64.16% ; FCFE base≈513.9m ; Y1≈352.1m ; Y5≈175.3m
Fair Price DCF = 12.15 (DCF Value 2.61b / Shares Outstanding 214.7m; 5y FCF grow -36.86% → 3.0% )
EPS Correlation: 53.83 | EPS CAGR: 46.40% | SUE: 0.14 | # QB: 0
Revenue Correlation: -49.92 | Revenue CAGR: -6.66% | SUE: -1.00 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.38 | Chg30d=+0.106 | Revisions Net=+2 | Analysts=3
EPS next Year (2026-12-31): EPS=9.87 | Chg30d=-0.005 | Revisions Net=+2 | Growth EPS=+14.4% | Growth Revenue=+14.5%

Additional Sources for TRGP Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle