Targa Resources Corp.

NYSE:TRGP Stock Report

Market Cap: US$38.6b

Targa Resources Balance Sheet Health

Financial Health criteria checks 2/6

Targa Resources has a total shareholder equity of $4.5B and total debt of $14.0B, which brings its debt-to-equity ratio to 313.2%. Its total assets and total liabilities are $21.9B and $17.4B respectively. Targa Resources's EBIT is $2.6B making its interest coverage ratio 3.4. It has cash and short-term investments of $127.2M.

Key information

313.2%

Debt to equity ratio

US$13.96b

Debt

Interest coverage ratio3.4x
CashUS$127.20m
EquityUS$4.46b
Total liabilitiesUS$17.45b
Total assetsUS$21.90b

Recent financial health updates

We Think Targa Resources (NYSE:TRGP) Is Taking Some Risk With Its Debt

Aug 30
We Think Targa Resources (NYSE:TRGP) Is Taking Some Risk With Its Debt

Here's Why Targa Resources (NYSE:TRGP) Can Manage Its Debt Responsibly

Mar 20
Here's Why Targa Resources (NYSE:TRGP) Can Manage Its Debt Responsibly

Recent updates

Targa Resources Corp. (NYSE:TRGP) Shares Could Be 29% Above Their Intrinsic Value Estimate

Nov 21
Targa Resources Corp. (NYSE:TRGP) Shares Could Be 29% Above Their Intrinsic Value Estimate

Targa Resources: Assuming The Past Never Happens Again

Nov 11

Should You Be Adding Targa Resources (NYSE:TRGP) To Your Watchlist Today?

Nov 03
Should You Be Adding Targa Resources (NYSE:TRGP) To Your Watchlist Today?

What You Can Learn From Targa Resources Corp.'s (NYSE:TRGP) P/E

Oct 16
What You Can Learn From Targa Resources Corp.'s (NYSE:TRGP) P/E

We Think Targa Resources (NYSE:TRGP) Is Taking Some Risk With Its Debt

Aug 30
We Think Targa Resources (NYSE:TRGP) Is Taking Some Risk With Its Debt

Targa Resources: Large Growth Potential With High Capex Spending

Aug 06

A Look At The Intrinsic Value Of Targa Resources Corp. (NYSE:TRGP)

Jul 31
A Look At The Intrinsic Value Of Targa Resources Corp. (NYSE:TRGP)

Shareholders Should Be Pleased With Targa Resources Corp.'s (NYSE:TRGP) Price

Jul 16
Shareholders Should Be Pleased With Targa Resources Corp.'s (NYSE:TRGP) Price

If EPS Growth Is Important To You, Targa Resources (NYSE:TRGP) Presents An Opportunity

Jun 21
If EPS Growth Is Important To You, Targa Resources (NYSE:TRGP) Presents An Opportunity

Targa Resources: Improving Ebitda And Possible Upside Potential

May 03

Targa Resources (NYSE:TRGP) Is Increasing Its Dividend To $0.75

Apr 15
Targa Resources (NYSE:TRGP) Is Increasing Its Dividend To $0.75

A Look At The Fair Value Of Targa Resources Corp. (NYSE:TRGP)

Apr 07
A Look At The Fair Value Of Targa Resources Corp. (NYSE:TRGP)

Here's Why Targa Resources (NYSE:TRGP) Can Manage Its Debt Responsibly

Mar 20
Here's Why Targa Resources (NYSE:TRGP) Can Manage Its Debt Responsibly

Targa: 2024 Shaping Up To Be A Good Year

Mar 06

A Look At The Intrinsic Value Of Targa Resources Corp. (NYSE:TRGP)

Dec 26
A Look At The Intrinsic Value Of Targa Resources Corp. (NYSE:TRGP)

Targa Resources: Promising Growth Prospects But Almost Full Valuation

Dec 05

Targa Resources Growing Organically

Sep 21

Targa Resources Corp: At A Premium That Mutes A Buy Case

Jul 30

Targa Resources Q4 2022 Earnings Preview

Feb 21

Targa Resources declares $0.35 dividend

Jan 20

Financial Position Analysis

Short Term Liabilities: TRGP's short term assets ($2.0B) do not cover its short term liabilities ($2.6B).

Long Term Liabilities: TRGP's short term assets ($2.0B) do not cover its long term liabilities ($14.8B).

Debt to Equity History and Analysis

Debt Level: TRGP's net debt to equity ratio (310.3%) is considered high.

Reducing Debt: TRGP's debt to equity ratio has increased from 82.5% to 313.2% over the past 5 years.

Debt Coverage: TRGP's debt is well covered by operating cash flow (23.5%).

Interest Coverage: TRGP's interest payments on its debt are well covered by EBIT (3.4x coverage).

Balance Sheet

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 02:14
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Targa Resources Corp. is covered by 40 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ethan BellamyBaird
Theresa ChenBarclays
Richard GrossBarclays