US · USD

TRGP

Targa Resources Inc

$279.31+3.33% ($9.00)Updated 10/1/26, 5:00 PM

Day's range: $267.00 – $279.42
Day's volume: $373.1M
52-week range: $143.22 – $302.25

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TRGP in numbers

Market cap: $59.9B

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

10/02/202510/01/2026

Compare with

TRGP risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+64.81%	+236.47%	+510.41%
Volatility (annualized)	26.55%	29.01%	29.61%
Largest drawdown	-7.95%	-22.93%	-22.93%
Positive months	9/12	24/36	37/60

How much did investing in TRGP return?

Amount invested

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

Value today in TRGP: $6,104.13

Return over the period: +510.41%

Return per year: +43.60%

In the S&P 500: $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
$10.57
Book value per share
$17.05

Debt

Net debt
$19.4B
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 $279.31.

Graham's fair price: $63.70; 77.19% below the price

√(22.50 × $10.57 × $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: $33.83; 87.89% below the price

$2.03 (5-year average) ÷ 6%

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

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

TRGP's indicators by year

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

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	20.62	29.67	14.40	—	166.29	-3.88	-45.48	5,226.12
P/B	12.93	15.02	7.08	—	5.89	2.27	1.93	1.38
EV/EBITDA	11.75	12.86	8.14	—	10.53	—	14.60	13.06
Dividend yield	2.03%	1.54%	2.13%	1.90%	0.77%	4.59%	8.92%	10.11%
Earnings per share	$8.95	$6.02	$6.03	—	$0.31	-$6.80	-$0.90	$0.01
Book value per share	$14.27	$11.89	$12.28	—	$8.88	$11.61	$21.12	$26.19
ROE	62.68%	50.61%	49.13%	44.85%	3.54%	-58.55%	-4.25%	0.03%
ROIC	12.89%	13.01%	13.73%	11.39%	9.89%	-10.80%	0.00%	1.90%
Gross margin	38.29%	24.29%	21.04%	14.83%	14.69%	24.55%	34.50%	24.02%
EBITDA margin	28.46%	29.13%	29.26%	14.25%	10.78%	-6.38%	15.74%	11.27%
Net margin	11.29%	9.28%	9.95%	6.03%	0.44%	-22.61%	-2.83%	0.02%
Net debt/EBITDA	3.56	3.40	3.24	4.01	3.71	—	6.43	5.13

TRGP's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$17B	$14.1B	$13.5B	$19.8B	$16.1B	$6.9B
Cost of revenue	-$10.5B	-$10.7B	-$10.7B	-$16.9B	-$13.7B	-$5.2B
Gross profit	$6.5B	$3.4B	$2.8B	$2.9B	$2.4B	$1.7B
EBITDA	$4.8B	$4.1B	$4B	$2.8B	$1.7B	-$438.6M
EBIT	$3.3B	$2.7B	$2.6B	$1.7B	$864.8M	-$1.3B
Financial result	—	—	—	—	—	—
Income before tax	$2.5B	$1.9B	$1.9B	$1.7B	$436.9M	-$1.6B
Income tax	-$529.7M	-$384.5M	-$363.2M	-$131.8M	-$14.8M	$248.1M
Net income	$1.9B	$1.3B	$1.3B	$1.2B	$71.2M	-$1.6B

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
Type	Last day to own	Payment	Per share
Dividend	07/30/2026	08/14/2026	$1.25
Dividend	04/29/2026	05/15/2026	$1.25
Dividend	01/29/2026	02/13/2026	$1.00
Dividend	10/30/2025	11/17/2025	$1.00
Dividend	07/30/2025	08/15/2025	$1.00
Dividend	04/29/2025	05/15/2025	$1.00
Dividend	01/30/2025	02/14/2025	$0.75
Dividend	10/30/2024	11/15/2024	$0.75
Dividend	07/30/2024	08/15/2024	$0.75
Dividend	04/26/2024	05/15/2024	$0.75
Dividend	01/29/2024	02/15/2024	$0.50
Dividend	10/27/2023	11/15/2023	$0.50

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	07/27/2023	08/15/2023	$0.50
Dividend	04/26/2023	05/15/2023	$0.50
Dividend	01/27/2023	02/15/2023	$0.35
Dividend	10/27/2022	11/15/2022	$0.35
Dividend	07/27/2022	08/15/2022	$0.35
Dividend	04/27/2022	05/16/2022	$0.35
Dividend	01/27/2022	02/15/2022	$0.35
Dividend	10/27/2021	11/15/2021	$0.10
Dividend	07/28/2021	08/16/2021	$0.10
Dividend	04/28/2021	05/14/2021	$0.10
Dividend	01/28/2021	02/16/2021	$0.10
Dividend	10/28/2020	11/16/2020	$0.10
Dividend	07/29/2020	08/17/2020	$0.10
Dividend	04/29/2020	05/15/2020	$0.10
Dividend	01/29/2020	02/18/2020	$0.91
Dividend	10/30/2019	11/15/2019	$0.91
Dividend	07/29/2019	08/15/2019	$0.91
Dividend	04/29/2019	05/15/2019	$0.91
Dividend	01/29/2019	02/15/2019	$0.91
Dividend	10/29/2018	11/15/2018	$0.91
Dividend	07/30/2018	08/15/2018	$0.91
Dividend	04/27/2018	05/15/2018	$0.91
Dividend	01/30/2018	02/15/2018	$0.91
Dividend	10/30/2017	11/15/2017	$0.91
Dividend	07/27/2017	08/15/2017	$0.91
Dividend	04/27/2017	05/16/2017	$0.91
Dividend	01/27/2017	02/15/2017	$0.91
Dividend	10/28/2016	11/15/2016	$0.91

About Targa Resources

Sector: Transportation and utilities

Questions about TRGP

How much is TRGP today?

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

How much did TRGP pay in dividends in 2025?

TRGP paid $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 annualized volatility of 26.55% and a largest drawdown of -7.95%.