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TRGP

Targa Resources Inc

US$279.31+3.33% (US$9.00)
Day's range
US$267.00 – US$279.42
Day's volume
US$373.1m
52-week range
US$143.22 – US$302.25

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TRGP in numbers

Market cap
US$59.9bn
P/E
26.41
P/B
16.38
Dividend yield (12m)
1.61%
Net debt/EBITDA
3.54

The 12-month dividend yield of TRGP is 1.61%, below its 5-year average of 1.67%.

TRGP price history

02/10/202501/10/2026
Compare with

TRGP risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return+64.81%+236.47%+510.41%
Volatility (annualised)26.55%29.01%29.61%
Largest drawdown-7.95%-22.93%-22.93%
Positive months9/1224/3637/60

How much did investing in TRGP return?

US$1,000.00 invested on 01/09/2021 would be worth US$6,104.13 today.

Value today in TRGP
US$6,104.13
Return over the period
+510.41%
Return per year
+43.60%
In the S&P 500
US$1,776.31

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

TRGP fundamentals

Valuation

  • P/E
    26.41
  • P/B
    16.38
  • EV/EBITDA
    14.45
  • EV/EBIT
    20.68
  • EV/Revenue
    4.74
  • P/EBIT
    15.61
  • P/S
    3.58
  • P/OCF
    13.98
  • P/FCF
    80.84
  • Earnings yield
    4.83%
  • PEG ratio
    —
  • Earnings per share
    US$10.57
  • Book value per share
    US$17.05

Debt

  • Net debt
    US$19.4bn
  • Net debt/EBITDA
    3.54
  • Net debt/Equity
    5.32
  • Debt/Equity
    5.35
  • Current ratio
    0.77
  • Quick ratio
    0.68
  • Cash ratio
    0.04

Efficiency

  • Gross margin
    43.19%
  • EBITDA margin
    32.79%
  • Operating margin
    22.91%
  • Net margin
    13.54%
  • Asset turnover
    0.59

Profitability

  • ROE
    62.02%
  • ROA
    7.95%
  • ROIC
    13.06%
  • Payout
    42.55%

Growth

  • Revenue CAGR (5 years)
    9.27%
  • Earnings CAGR (5 years)
    49.32%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is TRGP's fair price?

Two classic value formulas, with today's numbers. The current price is US$279.31.

Graham's fair price
US$63.70
77.19% below the price

√(22.50 × US$10.57 × US$17.05)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$33.83
87.89% below the price

US$2.03 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

TRGP indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E20.6229.6714.40—166.29-3.88-45.485,226.12
P/B12.9315.027.08—5.892.271.931.38
EV/EBITDA11.7512.868.14—10.53—14.6013.06
Dividend yield2.03%1.54%2.13%1.90%0.77%4.59%8.92%10.11%
Earnings per shareUS$8.95US$6.02US$6.03—US$0.31-US$6.80-US$0.90US$0.01
Book value per shareUS$14.27US$11.89US$12.28—US$8.88US$11.61US$21.12US$26.19
ROE62.68%50.61%49.13%44.85%3.54%-58.55%-4.25%0.03%
ROIC12.89%13.01%13.73%11.39%9.89%-10.80%0.00%1.90%
Gross margin38.29%24.29%21.04%14.83%14.69%24.55%34.50%24.02%
EBITDA margin28.46%29.13%29.26%14.25%10.78%-6.38%15.74%11.27%
Net margin11.29%9.28%9.95%6.03%0.44%-22.61%-2.83%0.02%
Net debt/EBITDA3.563.403.244.013.71—6.435.13

TRGP financial statements

Line202520242023202220212020
Net revenueUS$17bnUS$14.1bnUS$13.5bnUS$19.8bnUS$16.1bnUS$6.9bn
Cost of sales-US$10.5bn-US$10.7bn-US$10.7bn-US$16.9bn-US$13.7bn-US$5.2bn
Gross profitUS$6.5bnUS$3.4bnUS$2.8bnUS$2.9bnUS$2.4bnUS$1.7bn
EBITDAUS$4.8bnUS$4.1bnUS$4bnUS$2.8bnUS$1.7bn-US$438.6m
EBITUS$3.3bnUS$2.7bnUS$2.6bnUS$1.7bnUS$864.8m-US$1.3bn
Net finance result——————
Profit before taxUS$2.5bnUS$1.9bnUS$1.9bnUS$1.7bnUS$436.9m-US$1.6bn
Income tax-US$529.7m-US$384.5m-US$363.2m-US$131.8m-US$14.8mUS$248.1m
Net incomeUS$1.9bnUS$1.3bnUS$1.3bnUS$1.2bnUS$71.2m-US$1.6bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does TRGP pay dividends?

Dividend yield per year

  • 7.52%2017
  • 10.11%2018
  • 8.92%2019
  • 4.59%2020
  • 0.77%2021
  • 1.90%2022
  • 2.13%2023
  • 1.54%2024
  • 2.03%2025
  • 1.25%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend30/07/202614/08/2026US$1.25
Dividend29/04/202615/05/2026US$1.25
Dividend29/01/202613/02/2026US$1.00
Dividend30/10/202517/11/2025US$1.00
Dividend30/07/202515/08/2025US$1.00
Dividend29/04/202515/05/2025US$1.00
Dividend30/01/202514/02/2025US$0.75
Dividend30/10/202415/11/2024US$0.75
Dividend30/07/202415/08/2024US$0.75
Dividend26/04/202415/05/2024US$0.75
Dividend29/01/202415/02/2024US$0.50
Dividend27/10/202315/11/2023US$0.50
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend27/07/202315/08/2023US$0.50
Dividend26/04/202315/05/2023US$0.50
Dividend27/01/202315/02/2023US$0.35
Dividend27/10/202215/11/2022US$0.35
Dividend27/07/202215/08/2022US$0.35
Dividend27/04/202216/05/2022US$0.35
Dividend27/01/202215/02/2022US$0.35
Dividend27/10/202115/11/2021US$0.10
Dividend28/07/202116/08/2021US$0.10
Dividend28/04/202114/05/2021US$0.10
Dividend28/01/202116/02/2021US$0.10
Dividend28/10/202016/11/2020US$0.10
Dividend29/07/202017/08/2020US$0.10
Dividend29/04/202015/05/2020US$0.10
Dividend29/01/202018/02/2020US$0.91
Dividend30/10/201915/11/2019US$0.91
Dividend29/07/201915/08/2019US$0.91
Dividend29/04/201915/05/2019US$0.91
Dividend29/01/201915/02/2019US$0.91
Dividend29/10/201815/11/2018US$0.91
Dividend30/07/201815/08/2018US$0.91
Dividend27/04/201815/05/2018US$0.91
Dividend30/01/201815/02/2018US$0.91
Dividend30/10/201715/11/2017US$0.91
Dividend27/07/201715/08/2017US$0.91
Dividend27/04/201716/05/2017US$0.91
Dividend27/01/201715/02/2017US$0.91
Dividend28/10/201615/11/2016US$0.91

About Targa Resources

Sector
Transportation and utilities

Questions about TRGP

How much is TRGP today?

TRGP is at US$279.31 (3.33% on the day), last traded on 01/10/2026.

How much did TRGP pay in dividends in 2025?

TRGP paid US$3.75 per share in 2025, a dividend yield of 2.03%.

What are the P/E and P/B of TRGP?

TRGP trades at a P/E of 26.41 and a P/B of 16.38.

How much did TRGP return in 12 months?

TRGP returned 64.81% in 12 months, with annualised volatility of 26.55% and a largest drawdown of -7.95%.