Targa Resources Corp. (NYSE: TRGP) is a leading midstream energy company in the U.S., providing natural gas and natural gas liquids (NGL) services, including gathering, processing, transportation, and storage, with extensive operations in key energy-producing regions.
Key Takeaways:
- Targa Resources Corp. is poised for significant growth in the coming decades
- The stock price is projected to increase to $5200 by 2050
- Factors such as market trends, company performance, and industry developments will influence stock price movements
- Long-term investors may find TRGP an attractive option for portfolio growth
Overview of Targa Resources Corp.
Targa Resources Corp., established in 2005, is a Houston-based midstream energy company specializing in natural gas and natural gas liquids infrastructure across the US. Initially formed through the acquisition of Dynegy Midstream Services, Targa has grown substantially through strategic purchases.
The company’s expansion includes major acquisitions such as Atlas Pipeline Partners and Atlas Energy in 2015, Outrigger Delaware Operating in 2017, and Southcross Energy in 2022. These moves have strengthened Targa’s presence in key areas like the Eagle Ford, Anadarko, Delaware, Midland, and Gulf Coast regions.
Targa Resources Corp. Company Profile
| Country | United States |
| Ticker Symbol | TRGP |
| Exchange | NYSE |
| Founded | 2005 |
| IPO Date | 2010 |
| Industry | Oil & Gas Transportation Services |
| Sector | Energy |
| Employees | 3,182 |
| CEO | Matthew J. Meloy |
| Market Cap (September 4, 2024) | $32.24 billion |
| Website | targaresources |
Targa Resources Corp. (TRGP) Balance Sheet Analysis
Targa Resources Corp.’s 2023 balance sheet reveals total assets of $20.67 billion, up from $19.56 billion in 2022. Total liabilities increased to $16.06 billion, while total equity decreased to $4.61 billion.
The company’s debt profile expanded, with total debt rising to $13.01 billion and net debt reaching $12.52 billion. This increase in leverage may indicate ongoing investments or refinancing activities.
Working capital remained negative at -$566.3 million, though slightly improved from 2022. Notably, tangible book value turned positive at $389.1 million, a significant improvement from the previous year’s negative figure.
Overall, Targa Resources Corp. saw growth in its asset base and took on additional debt in 2023. While the company’s equity position slightly decreased, the improved tangible book value suggests enhanced financial stability.
Balance Sheet Data Source: finance.yahoo
Targa Resources Corp. Stock Price History
Targa Resources Corp. (NYSE: TRGP) had its IPO in the year 2010. Targa Resources Corp. (NYSE: TRGP) reached its all-time high of $152.42 on September 4, 2024.
As of September 4, 2024, the price of Targa Resources Corp. stock stands at $147.15.
TRGP Stock Price Forecast 2024
Our analysis suggests a positive outlook for the remainder of the year, with potential for further growth.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2024 | $130.00 | $165.00 | $214.50 |
This forecast represents a potential growth of 12.1% from the current price to the average projected price for 2024.
Targa Resources Corp. is expected to benefit from increased natural gas production in key basins. The company’s investments in export terminals could provide a competitive advantage in the global market, potentially driving stock performance.
TRGP Stock Price Forecast 2025
Moving into 2025, we anticipate continued growth for Targa Resources Corp. The company’s strategic positioning in key energy markets and its focus on expanding its infrastructure are expected to drive value.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2025 | $170.00 | $187.00 | $243.10 |
This forecast suggests a growth of 13.3% from the 2024 average price to the 2025 average price.
Targa’s focus on expanding its Permian Basin operations could lead to increased market share. The company’s efforts to optimize its asset portfolio may result in improved financial performance and investor confidence.
TRGP Stock Price Forecast 2026
As we look ahead to 2026, Targa Resources Corp. is expected to continue its upward trend. The company’s focus on sustainable growth and operational excellence should contribute to its stock performance.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2026 | $193.00 | $212.00 | $275.60 |
This forecast represents a growth of 13.4% from the 2025 average price to the 2026 average price.
Targa’s potential entry into renewable energy projects could diversify its revenue streams. The company’s strong cash flow generation may support increased dividend payouts, attracting income-focused investors.
TRGP Stock Price Forecast 2027
In 2027, we anticipate Targa Resources Corp. to maintain its growth momentum. The company’s strategic investments and market position should continue to drive value for shareholders.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2027 | $220.00 | $241.00 | $313.30 |
This forecast suggests a growth of 13.7% from the 2026 average price to the 2027 average price.
Targa’s investments in technology could lead to improved operational efficiency. The company’s strategic positioning in key energy corridors may provide a competitive edge, potentially boosting investor confidence and stock performance.
TRGP Stock Price Forecast 2028
As we move into 2028, Targa Resources Corp. is expected to continue its upward trajectory. The company’s ability to adapt to changing market conditions and capitalize on emerging opportunities will be crucial.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2028 | $250.00 | $274.00 | $356.20 |
This forecast represents a growth of 13.7% from the 2027 average price to the 2028 average price.
Targa’s potential acquisitions could expand its asset base and market reach. The company’s focus on export capabilities may position it to benefit from growing global demand for U.S. energy products.
TRGP Stock Price Forecast 2029
In 2029, we anticipate Targa Resources Corp. to maintain its strong market position and continue delivering value to shareholders.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2029 | $285.00 | $312.00 | $405.60 |
This forecast suggests a growth of 13.9% from the 2028 average price to the 2029 average price.
Targa’s potential international expansion could open new growth avenues. The company’s investments in sustainable energy solutions may enhance its environmental profile, attracting ESG-focused investors.
TRGP Stock Price Forecast 2030
As we enter a new decade, Targa Resources Corp. is poised for continued growth and success. The company’s strategic vision and operational excellence should drive long-term value creation.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2030 | $325.00 | $355.00 | $461.50 |
This forecast represents a growth of 13.8% from the 2029 average price to the 2030 average price.
Targa’s technological innovations could lead to improved operational efficiency and cost savings. The company’s potential expansion into new energy markets may diversify its revenue streams and reduce market-specific risks. This diversification strategy is similar to what we’ve seen in our Cameco Corporation (CCJ) stock prediction, where adaptability plays a key role in long-term growth projections
TRGP Stock Price Forecast 2031
Moving into 2031, we expect Targa Resources Corp. to continue its growth trend, capitalizing on its strong market position and operational efficiency.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2031 | $370.00 | $404.00 | $525.20 |
This forecast suggests a growth of 13.8% from the 2030 average price to the 2031 average price.
Targa’s potential strategic partnerships could enhance its market position and operational capabilities. The company’s expanding renewable energy initiatives may position it well in the evolving energy landscape.
TRGP Stock Price Forecast 2032
In 2032, Targa Resources Corp. is expected to maintain its upward momentum, driven by its strategic initiatives and market adaptability.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2032 | $420.00 | $459.00 | $596.70 |
This forecast represents a growth of 13.6% from the 2031 average price to the 2032 average price.
Targa’s investments in energy storage technologies could provide new revenue streams. The company’s ability to adapt to changing macroeconomic conditions may enhance its resilience and appeal to investors.
TRGP Stock Price Forecast 2033
As we look ahead to 2033, Targa Resources Corp. is poised for continued success, leveraging its strong market position and operational excellence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2033 | $480.00 | $522.00 | $678.60 |
This forecast suggests a growth of 13.7% from the 2032 average price to the 2033 average price.
Targa’s expanding international presence could open new growth opportunities. The company’s focus on sustainable energy solutions may enhance its long-term viability and attractiveness to environmentally conscious investors.
TRGP Stock Price Forecast 2034
In 2034, we anticipate Targa Resources Corp. to maintain its growth trajectory, driven by its strategic vision and adaptability to market changes.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2034 | $545.00 | $594.00 | $772.20 |
This forecast represents a growth of 13.8% from the 2033 average price to the 2034 average price.
Targa’s potential strategic acquisitions could strengthen its market position and diversify its asset portfolio. The company’s advancements in clean energy technologies may position it as a leader in the transition to sustainable energy.
TRGP Stock Price Forecast 2035
As we move into 2035, Targa Resources Corp. is expected to continue delivering value to shareholders through its strategic initiatives and operational excellence.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2035 | $620.00 | $675.00 | $877.50 |
This forecast suggests a growth of 13.6% from the 2034 average price to the 2035 average price.
Targa’s expansion into emerging energy markets could provide new growth avenues. The company’s focus on technological innovation may lead to improved operational efficiency and cost savings, potentially boosting profitability. This focus on innovation and efficiency is reminiscent of trends we’ve observed in our Occidental Petroleum (OXY) stock forecast, where technological advancements significantly impact future valuations.
TRGP Stock Price Forecast 2036
In 2036, we anticipate Targa Resources Corp. to maintain its upward momentum, capitalizing on its strong market position and operational efficiency.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2036 | $705.00 | $767.00 | $997.10 |
This forecast represents a growth of 13.6% from the 2035 average price to the 2036 average price.
Targa’s potential strategic partnerships could enhance its market position and operational capabilities. The company’s advancements in energy storage and distribution may provide a competitive edge in the evolving energy landscape.
TRGP Stock Price Forecast 2037
Looking ahead to 2037, Targa Resources Corp. is poised for continued growth, driven by its strategic vision and adaptability to market changes.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2037 | $800.00 | $871.00 | $1,132.30 |
This forecast suggests a growth of 13.6% from the 2036 average price to the 2037 average price.
Targa’s international expansion could open new markets and growth opportunities. The company’s focus on renewable energy initiatives may position it as a leader in the transition to sustainable energy solutions.
TRGP Stock Price Forecast 2038
In 2038, we expect Targa Resources Corp. to maintain its strong market position and continue delivering value to shareholders.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2038 | $910.00 | $990.00 | $1,287.00 |
This forecast represents a growth of 13.7% from the 2037 average price to the 2038 average price.
Targa’s potential strategic acquisitions could strengthen its market position and diversify its asset portfolio. The company’s advancements in clean energy technologies may enhance its environmental profile and attract ESG-focused investors.
TRGP Stock Price Forecast 2039
As we approach the end of the 2030s, Targa Resources Corp. is expected to continue its upward trajectory, leveraging its operational excellence and strategic initiatives.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2039 | $1,035.00 | $1,125.00 | $1,462.50 |
This forecast suggests a growth of 13.6% from the 2038 average price to the 2039 average price.
Targa’s expansion into emerging energy markets could provide new growth avenues. The company’s focus on technological innovation may lead to improved operational efficiency and cost savings, potentially boosting profitability and dividend payouts.
TRGP Stock Price Forecast 2040
In 2040, we anticipate Targa Resources Corp. to maintain its growth momentum, capitalizing on its strong market position and operational efficiency.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2040 | $1,175.00 | $1,280.00 | $1,664.00 |
This forecast represents a growth of 13.8% from the 2039 average price to the 2040 average price.
Targa’s potential strategic partnerships could enhance its market position and operational capabilities. The company’s advancements in energy storage and distribution may provide a competitive edge in the evolving energy landscape. This long-term approach to innovation and market adaptation is reminiscent of strategies seen in other industries, such as those outlined in our General Dynamics (GD) stock prediction. While GD operates in aerospace and defense, both companies demonstrate how technological advancement and strategic partnerships can drive long-term value creation across different sectors.
TRGP Stock Price Forecast 2050
Looking ahead to 2050, we project significant growth for Targa Resources Corp. The company’s long-term strategic vision, coupled with its ability to adapt to changing market conditions, positions it for substantial value creation.
| Year | Low Price | Average Price | High Price |
|---|---|---|---|
| 2050 | $4,700.00 | $5,200.00 | $6,760.00 |
This forecast suggests a remarkable growth of 306.3% from the 2040 average price to the 2050 average price.
Targa’s long-term focus on technological innovation and sustainable growth could position it as a leader in the future energy landscape. The company’s ability to adapt to evolving energy markets may drive significant value creation for shareholders.
Conclusion
Our analysis of Targa Resources Corp. (NYSE: TRGP) stock price forecast from 2024 to 2050 reveals a promising outlook for long-term investors. We project the stock price to reach $5,200 by 2050, representing a substantial increase of over 3,400% over the 26-year period.
This growth trajectory is based on several factors, including:
- Targa’s strong market position in the energy infrastructure sector
- The company’s strategic focus on operational efficiency and expansion
- Potential for technological advancements and market adaptability
- Projected increase in global energy demand
FAQs
1. What is the future of TRGP share price?
Based on our analysis, the future of TRGP share price appears promising. We project significant growth over the long term, with the stock price potentially reaching $5,200 by 2050 from its current price of $147.15 in 2024. This represents a substantial increase of over 3,400% over 26 years. Our projections show consistent year-over-year growth ranging from 13.3% to 13.9%, indicating a robust upward trajectory.
2. Is TRGP a good long-term stock?
TRGP appears to be a promising long-term stock based on our analysis. The company’s strong position in the energy infrastructure sector, focus on operational efficiency, and potential for adaptation to new energy markets contribute to its attractiveness as a long-term investment.
Key factors supporting TRGP’s long-term potential include:
- Strategic positioning in key energy markets
- Ongoing expansion and efficiency initiatives
- Potential for technological advancements
- Ability to adapt to the evolving energy landscape, including renewable energy integration
3. What is the TRGP 10 year outlook?
Our 10-year outlook for TRGP (from 2024 to 2034) is positive. We project the stock price to grow from $165.00 in 2024 to $594.00 in 2034, representing an increase of about 260% over this period.
Key factors influencing this outlook include:
- Expansion of export capabilities
- Potential strategic acquisitions
- Advancements in clean energy technologies
- Continued strength in core business segments
This outlook suggests that TRGP could provide substantial returns for investors over the next decade, assuming the company successfully executes its strategies and market conditions remain favorable.
4. Is TRGP a buy, hold, or sell?
Based on our analysis of Targa Resources Corp. (TRGP) and current market conditions, we would cautiously rate TRGP as a “Buy” for investors with a long-term horizon and moderate risk tolerance. For existing shareholders, unless there’s a need for immediate liquidity or portfolio rebalancing, holding TRGP could be beneficial to capture the projected long-term growth.
5. Who are the major competitors of TRGP?
The major competitors of Targa Resources Corp. (NYSE: TRGP) include:
- Enterprise Products Partners L.P. (NYSE: EPD) – A leading North American provider of midstream energy services, including natural gas, crude oil, and petrochemical transportation.
- Kinder Morgan, Inc. (NYSE: KMI) – One of the largest energy infrastructure companies in North America, specializing in owning and controlling oil and gas pipelines and terminals.
- ONEOK, Inc. (NYSE: OKE) – An energy company focused on gathering, processing, storage, and transportation of natural gas.
- Williams Companies, Inc. (NYSE: WMB) – A prominent player in the energy infrastructure sector, operating natural gas pipelines across North America.
- Plains All American Pipeline, L.P. (NASDAQ: PAA) – Engages in transportation, storage, and marketing of crude oil, refined products, and natural gas liquids.
- Energy Transfer LP (NYSE: ET) – An energy company involved in natural gas and propane transportation, storage, and logistics.
- MPLX LP (NYSE: MPLX) – A master limited partnership with interests in midstream energy infrastructure, including pipeline transportation, processing, and storage.
- DCP Midstream, LP (NYSE: DCP) – Engages in gathering, processing, and transporting natural gas and natural gas liquids.
- Magellan Midstream Partners, L.P. (NYSE: MMP) – Specializes in the transportation, storage, and distribution of refined petroleum products and crude oil.
- Cheniere Energy, Inc. (NYSEAMERICAN: LNG) – A leading producer and exporter of liquefied natural gas (LNG), with midstream infrastructure supporting its operations.
These companies operate in the midstream sector of the oil and gas industry, similar to Targa Resources, and are key competitors in the U.S. market.
Disclaimer:
The stock price predictions provided herein are based on historical data, current market trends, and analysis. However, past performance does not guarantee future results. Stock markets are inherently volatile and subject to numerous economic, political, and market factors that can cause rapid and unpredictable fluctuations in stock prices. The information provided is for educational and informational purposes only and should not be construed as financial advice. It is strongly recommended that you consult with a qualified financial advisor before making any investment decisions. Invest responsibly and consider your individual financial situation, risk tolerance, and investment objectives before acting on any information provided.
