Targa Resources Corp.’s Stock Price Soars to $172.68, Marking a Robust 2.76% Increase

Targa Resources Corp. (TRGP)

172.68 USD +4.64 (+2.76%) Volume: 2.71M

Discover Targa Resources Corp.’s stock price performance, currently at 172.68 USD, reflecting a positive trading session with a change of +2.76%. With a substantial trading volume of 2.71M, the stock shows a slight decrease YTD with a percentage change of -3.26%. Stay updated with TRGP’s market trends and make informed investment decisions.

Latest developments on Targa Resources Corp.

Targa Resources (NYSE:TRGP) stock price faced fluctuations today as Wolfe Research adjusted its price target from $235 to $200 while maintaining an Outperform rating. Despite this adjustment, investors continue to show interest in Targa Resources, which is now paying out a larger dividend compared to last year. These key events have contributed to the movement in Targa Resources stock price today.

Targa Resources Corp. on Smartkarma

According to research reports by Baptista Research on Smartkarma, Targa Resources Corp has shown strong financial performance in recent quarters. The company achieved record volumes, especially from its assets in the Permian Basin, leading to high levels of NGL transportation, fractionation, and export volumes. This performance resulted in a 17% increase in adjusted EBITDA year-over-year, reaching $4.1 billion, and significant growth in common dividends and share repurchases.

In another report by Baptista Research on Smartkarma, Targa Resources Corp’s robust performance during the third quarter of 2024 is highlighted. The company’s strategic positioning in volatile markets, strong presence in the Permian Basin, and focus on fee-based contracts in the Gathering and Processing segments have helped mitigate exposure to commodity price downturns. Targa’s investments in expanding infrastructure and capacity through projects like new processing plants in the Permian Delaware Basin indicate a long-term growth strategy for the company.

A look at Targa Resources Corp. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Targa Resources has a mixed long-term outlook. While the company scores high in Growth, indicating strong potential for expansion and development, it falls short in other areas such as Value, Dividend, and Resilience. This suggests that Targa Resources may face challenges in terms of its financial performance and stability in the future.

Targa Resources Corp. is a company that focuses on midstream natural gas and natural gas liquid services. With interests in a limited partnership, the company is involved in various activities such as gathering, compressing, treating, and selling natural gas. Additionally, Targa Resources is engaged in storing, fractionating, treating, transporting, and selling natural gas liquids and related products. Despite scoring high in Growth, the company’s overall outlook is somewhat uncertain due to lower scores in other key areas.

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