Targa Resources stock dividend – TARGA RESOURCES Declares 0.5 Cash Dividend.
April 18, 2023
Dividends Yield
On April 15 2023, TARGA RESOURCES ($NYSE:TRGP) declared a 0.5 cash dividend per share, marking the third consecutive year of dividend payments. Over the past 3-year period between 2022 and 2024, the company has issued an average dividend per share of 1.4 USD, with a dividend yield averaging 2.15%. This consistent payment pattern makes TARGA RESOURCES a reliable and attractive option for investment portfolios seeking to benefit from dividend stocks.
As the ex-dividend date is set for April 27 2023, investors interested in reaping the benefits of TARGA RESOURCES’ dividend should act quickly to add this stock to their portfolios. TARGA RESOURCES is a strong dividend payer and is expected to continue paying dividends for years to come, making it a reliable long-term investment option.
Stock Price
Following the news, TARGA RESOURCES‘ stock opened at $78.0 and closed at $76.5, ending the day 1.8% lower than the prior closing price of 77.9. The move highlights TARGA RESOURCES’ commitment to rewarding shareholders through dividends and demonstrates their confidence in the company’s financial performance. This dividend also reflects TARGA RESOURCES’ continued dedication to returning value to investors, even during a challenging market environment. By investing in TARGA RESOURCES, investors can benefit not only from their long-term growth prospects but also from their attractive dividend yield. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Targa Resources. More…
| Total Revenues | Net Income | Net Margin |
| 20.93k | 896.8 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Targa Resources. More…
| Operations | Investing | Financing |
| 2.38k | -4.15k | 1.83k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Targa Resources. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.56k | 14.58k | 11.79 |
Key Ratios Snapshot
Some of the financial key ratios for Targa Resources are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 34.1% | 58.3% | 10.1% |
| FCF Margin | ROE | ROA |
| 5.0% | 52.2% | 6.7% |
Analysis
As part of our analysis of TARGA RESOURCES’ wellbeing, we created a Star Chart to analyze the company’s cashflows and debt. The Star Chart showed that TARGA RESOURCES had an intermediate health score of 6 out of 10. This score indicates that despite the changing economic climate, TARGA RESOURCES might be able to sustain future operations in times of crisis. We also classified TARGA RESOURCES as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This classification supports the Star Chart analysis, as it shows that TARGA RESOURCES is strong in dividend and growth, but medium in asset and profitability. Given this analysis, investors who are looking for a company with potential for quick growth and dividend returns may be interested in TARGA RESOURCES. However, they should consider the risks associated with investing in a company with low profitability and stability. More…
Peers
The company has a strong presence in the key producing basins in the United States and is well-positioned to capitalize on the growing demand for natural gas. Targa’s competitors include ONEOK Inc, Kinetik Holdings Inc, Anhui Province Natural Gas Development Co Ltd.
– ONEOK Inc ($NYSE:OKE)
ONEOK Inc is a leading midstream service provider in the United States. It has a market cap of 24.61B as of 2022 and a Return on Equity of 28.78%. The company operates in three segments: Natural Gas Gathering, Processing and Transportation; Natural Gas Liquids (NGL) Gathering, Processing, Transportation and Marketing; and Crude Oil Gathering and Transportation. ONEOK is one of the largest independent natural gas processors in the United States, with an average processing capacity of 2.6 billion cubic feet per day in 2020. The company is also one of the largest NGL marketers in the United States and owns one of the largest NGL transportation systems in the country.
– Kinetik Holdings Inc ($NASDAQ:KNTK)
Kinetik Holdings Inc is a publicly traded company with a market capitalization of $1.49 billion as of 2022. The company has a return on equity of 5.46%. Kinetik Holdings Inc is engaged in the business of providing turnkey engineering, procurement and construction services for the development and construction of electric transmission and distribution systems.
– Anhui Province Natural Gas Development Co Ltd ($SHSE:603689)
Anhui Province Natural Gas Development Co Ltd is a Chinese state-owned enterprise that engages in the development and operation of natural gas projects. The company has a market cap of 3.45 billion as of 2022 and a return on equity of 7.42%. The company’s main business activities include the exploration, development, production, and sales of natural gas.
Summary
TARGA RESOURCES is a good investment opportunity for those looking for a reliable dividend income. Over the 3-year period from 2022 to 2024, it has issued an average annual per share dividend of 1.4 USD, yielding an average of 2.15%. This is a competitive rate of return, particularly when compared to government bond yields.
TARGA RESOURCES has a strong balance sheet and a history of sustained growth, so investors can expect income and capital appreciation in the long-term. Because of its stability and reliability, this company is well-suited for those looking for consistent returns over the long-term.
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