National Bank of Canada FI Boosts Stake in Targa Resources Corp.
January 4, 2023
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Targa Resources Stock Fair Value – Targa Resources ($NYSE:TRGP) Corp. is a leading midstream energy company based in Houston, Texas. The company provides a wide range of services, including gas gathering and processing, fractionation, storage, transportation, terminalling and more. Its products are used to produce natural gas liquids (NGLs), crude oil, refined products and petrochemicals. The company believes that Targa Resources Corp. is well-positioned to benefit from the growing demand for midstream energy services and infrastructure in North America. The investment comes at an opportune time for Targa Resources Corp., which has been struggling with weak pricing and reduced demand for its products due to the coronavirus pandemic.
However, the company continues to strengthen its balance sheet and maintain a strong liquidity position despite the challenging market conditions. The investment is expected to further support the company’s growth initiatives and long-term objectives.
Share Price
On Tuesday, Targa Resources Corp’s stock opened at $73.3 and closed at $70.6, down by 3.9% from its previous closing price of $73.5. This has been attributed to the recent market volatility, which has caused many stocks to dip in price. This is likely to be of great benefit to the company, as it will be well placed to take advantage of opportunities that arise in the future.
The increased stake held by the National Bank of Canada FI is a sign of confidence that the company’s performance will continue to improve and that there is a bright future ahead. It will be interesting to see what other investments this company makes in the coming months, as well as how Targa Resources Corp performs going forward. 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 |
| 21.82k | 243.5 | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Targa Resources. More…
| Operations | Investing | Financing |
| 2.35k | -3.82k | 1.44k |
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 |
| 19.39k | 14.66k | 10.54 |
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 |
| 35.4% | 63.8% | 6.4% |
| FCF Margin | ROE | ROA |
| 6.2% | 39.4% | 4.5% |
VI Analysis – Targa Resources Stock Fair Value Calculator
TARGA RESOURCES is a company whose fundamentals reflect its long term potential. The VI app makes it easy to analyze the company and assess its intrinsic value. According to the VI Line, the intrinsic value per share of TARGA RESOURCES is $66.9. At the current trading price of $70.6, the stock is fairly priced but slightly overvalued by 6%. In order to accurately assess the intrinsic value of the company, investors should look at the balance sheet and analyze the company’s financial position. This includes looking at the company’s assets, liabilities, income, and expenses. Additionally, investors should consider the company’s competitive environment and future outlook. Investors should also pay attention to key performance metrics such as return on equity (ROE), return on assets (ROA), asset turnover ratio, and debt-to-equity ratio. These metrics can help investors determine whether a company is well-positioned for long-term success. Finally, it is important to consider the company’s dividend history and the company’s future dividend payout potential. Ultimately, by taking a holistic approach to analyzing TARGA RESOURCES, investors can make an informed decision about whether to invest in the company. By understanding the fundamentals of the company and assessing its intrinsic value, investors can determine whether the current trading price is fair and whether or not it is an attractive investment opportunity. More…
VI Peers
The company has a strong presence in the key producing basins in the United States and is well-positioned to capitalize on the growing demand for natural gas. Targa’s competitors include ONEOK Inc, Kinetik Holdings Inc, Anhui Province Natural Gas Development Co Ltd.
– ONEOK Inc ($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 midstream energy company that operates across the US. Recently, the National Bank of Canada FI has increased its stake in the company, which has driven positive media coverage. Despite this, the stock price has decreased on the same day.
Analysts believe this could be due to a number of factors, such as the overall market sentiment or a specific issue with the company. Investors should continue to monitor TARGA Resources’ performance in order to make an informed decision on whether to invest in the company.
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