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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.03
TRGP's Cash to Debt is ranked higher than
67% of the 144 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 0.05 vs. TRGP: 0.03 )
TRGP' s 10-Year Cash to Debt Range
Min: 0.02   Max: No Debt
Current: 0.03

Equity to Asset 0.03
TRGP's Equity to Asset is ranked higher than
51% of the 175 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 0.40 vs. TRGP: 0.03 )
TRGP' s 10-Year Equity to Asset Range
Min: 0.02   Max: 0.05
Current: 0.03

0.02
0.05
F-Score: 8
Z-Score: 2.10
M-Score: -2.38
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 6.88
TRGP's Operating margin (%) is ranked higher than
67% of the 176 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 10.87 vs. TRGP: 6.88 )
TRGP' s 10-Year Operating margin (%) Range
Min: 2.93   Max: 5.71
Current: 6.88

2.93
5.71
Net-margin (%) 1.07
TRGP's Net-margin (%) is ranked higher than
62% of the 176 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 5.62 vs. TRGP: 1.07 )
TRGP' s 10-Year Net-margin (%) Range
Min: -0.27   Max: 0.99
Current: 1.07

-0.27
0.99
ROE (%) 64.33
TRGP's ROE (%) is ranked higher than
99% of the 180 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 7.15 vs. TRGP: 64.33 )
TRGP' s 10-Year ROE (%) Range
Min: -12.95   Max: 44.45
Current: 64.33

-12.95
44.45
ROA (%) 1.59
TRGP's ROA (%) is ranked higher than
65% of the 182 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 3.06 vs. TRGP: 1.59 )
TRGP' s 10-Year ROA (%) Range
Min: -0.44   Max: 1.17
Current: 1.59

-0.44
1.17
ROC (Joel Greenblatt) (%) 13.80
TRGP's ROC (Joel Greenblatt) (%) is ranked higher than
85% of the 176 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 9.39 vs. TRGP: 13.80 )
TRGP' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 7.76   Max: 17.05
Current: 13.8

7.76
17.05
Revenue Growth (3Y)(%) -43.00
TRGP's Revenue Growth (3Y)(%) is ranked higher than
54% of the 134 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 3.40 vs. TRGP: -43.00 )
TRGP' s 10-Year Revenue Growth (3Y)(%) Range
Min: 0   Max: -43
Current: -43

EBITDA Growth (3Y)(%) -36.30
TRGP's EBITDA Growth (3Y)(%) is ranked higher than
53% of the 119 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 3.50 vs. TRGP: -36.30 )
TRGP' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0   Max: -36.3
Current: -36.3

» TRGP's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2013

TRGP Guru Trades in Q4 2013

Pioneer Investments 12,036 sh (+1.37%)
Steven Cohen Sold Out
Ron Baron 2,365,983 sh (-0.08%)
Jim Simons 675,500 sh (-17.12%)
» More
Q1 2014

TRGP Guru Trades in Q1 2014

Steven Cohen 3,601 sh (New)
Jim Simons 763,700 sh (+13.06%)
Ron Baron 2,365,614 sh (-0.02%)
Pioneer Investments 11,296 sh (-6.15%)
» More
Q2 2014

TRGP Guru Trades in Q2 2014

Pioneer Investments 18,951 sh (+67.77%)
Jim Simons 821,600 sh (+7.58%)
Ron Baron 2,352,557 sh (-0.55%)
» More
Q3 2014

TRGP Guru Trades in Q3 2014

Paul Tudor Jones 3,819 sh (New)
Pioneer Investments 19,590 sh (+3.37%)
Ron Baron 2,353,887 sh (+0.06%)
Jim Simons 784,600 sh (-4.5%)
» More
» Details

Insider Trades

Latest Guru Trades with TRGP

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
John Burbank 2013-09-30 Sold Out 0.03%$66.06 - $73.97 $ 102.7749%0
John Burbank 2013-06-30 Reduce -57.31%0.06%$61.68 - $69.19 $ 102.7755%15283
John Burbank 2012-12-31 New Buy0.08%$46.13 - $51.82 $ 102.77106%41000
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Guru Investment Theses on Targa Resources Corp

Ron Baron Comments on Targa Resources Corp - Jul 28, 2014

Finally, it was announced that Energy Transfer Partners L.P. has expressed an interest in acquiring Targa Resources Corp. (TRGP), an energy midstream MLP business that owns storage, pipelines, gathering and processing facilities in the Balkans, Gulf Coast and Permian Basin. Energy Transfer has interests in those areas that would be complemented by Targa’s properties. Energy Transfer acquired Baron Growth Fund’s investment in Southern Union (also held in several other Baron funds) in 2011. We had been an investor in Southern Union since 1995 and made about eight times our money from that initial investment, and about three times our money overall, when that business was acquired. We have owned Targa since its IPO in December 2010 and have so far made more than six times our money from that initial investment. One more thing, Energy Transfer has been an even better investment than the companies they acquired! Unfortunately, for us, we so far missed that one.



Targa Resources Corp. is the general partner of Targa Resources Partners, a growth oriented MLP with a premier natural gas liquids midstream presence on the Gulf Coast and crude and gas midstream presence at several major shale energy regions. Shares of Targa increased significantly as Targa continued to execute on its growth projects and provided upside to its quarterly and annual guidance. Rumors of a possible acquisition of the company also sent the stock higher. We believe Targa has unique assets that will allow the general partner to show a strong dividend growth profile. (Gilad Shany)



From Ron Baron (Trades, Portfolio)’s Baron Funds Second Quarter 2014 Report.



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Baron Funds Comments on Targa Resources Corp - Feb 25, 2014

2013 was a transformative year for midstream energy company Targa Resources Corp. (TRGP) with the completion of its $1 billion acquisition of the Bakken assets, development of natural gas liquids (NGL) export facilities in Galena Park, and continued growth across its field gathering systems. Despite challenging NGL pricing, Targa grew its dividend 35% in 2013, and we have high organic growth expectations around Targa's irreplaceable footprint and increased fee-based cash flows growth.

From Ron Baron (Trades, Portfolio)'s Baron Funds fourth quarter 2013 commentary.

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Top Ranked Articles about Targa Resources Corp

Ron Baron Comments on Targa Resources Corp
Finally, it was announced that Energy Transfer Partners L.P. has expressed an interest in acquiring Targa Resources Corp. (TRGP), an energy midstream MLP business that owns storage, pipelines, gathering and processing facilities in the Balkans, Gulf Coast and Permian Basin. Energy Transfer has interests in those areas that would be complemented by Targa’s properties. Energy Transfer acquired Baron Growth Fund’s investment in Southern Union (also held in several other Baron funds) in 2011. We had been an investor in Southern Union since 1995 and made about eight times our money from that initial investment, and about three times our money overall, when that business was acquired. We have owned Targa since its IPO in December 2010 and have so far made more than six times our money from that initial investment. One more thing, Energy Transfer has been an even better investment than the companies they acquired! Unfortunately, for us, we so far missed that one. Read more...
Baron Funds Comments on Targa Resources Corp
2013 was a transformative year for midstream energy company Targa Resources Corp. (TRGP) with the completion of its $1 billion acquisition of the Bakken assets, development of natural gas liquids (NGL) export facilities in Galena Park, and continued growth across its field gathering systems. Despite challenging NGL pricing, Targa grew its dividend 35% in 2013, and we have high organic growth expectations around Targa's irreplaceable footprint and increased fee-based cash flows growth. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 43.70
TRGP's P/E(ttm) is ranked higher than
72% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 32.20 vs. TRGP: 43.70 )
TRGP' s 10-Year P/E(ttm) Range
Min: 39.95   Max: 71.95
Current: 43.7

39.95
71.95
P/B 26.71
TRGP's P/B is ranked higher than
52% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 2.29 vs. TRGP: 26.71 )
TRGP' s 10-Year P/B Range
Min: 7.28   Max: 39.51
Current: 26.71

7.28
39.51
P/S 0.47
TRGP's P/S is ranked higher than
92% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 2.57 vs. TRGP: 0.47 )
TRGP' s 10-Year P/S Range
Min: 0.02   Max: 0.73
Current: 0.47

0.02
0.73
EV-to-EBIT 15.29
TRGP's EV-to-EBIT is ranked higher than
93% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 25.83 vs. TRGP: 15.29 )
TRGP' s 10-Year EV-to-EBIT Range
Min: 11.7   Max: 26.1
Current: 15.29

11.7
26.1
Current Ratio 1.31
TRGP's Current Ratio is ranked higher than
82% of the 182 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 1.05 vs. TRGP: 1.31 )
TRGP' s 10-Year Current Ratio Range
Min: 1   Max: 1.5
Current: 1.31

1
1.5
Quick Ratio 1.00
TRGP's Quick Ratio is ranked higher than
79% of the 182 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 0.92 vs. TRGP: 1.00 )
TRGP' s 10-Year Quick Ratio Range
Min: 0.88   Max: 1.39
Current: 1

0.88
1.39

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.60
TRGP's Dividend Yield is ranked lower than
79% of the 158 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 4.58 vs. TRGP: 2.60 )
TRGP' s 10-Year Dividend Yield Range
Min: 0.17   Max: 3.18
Current: 2.6

0.17
3.18
Dividend Payout 1.09
TRGP's Dividend Payout is ranked higher than
78% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 1.48 vs. TRGP: 1.09 )
TRGP' s 10-Year Dividend Payout Range
Min: 0.39   Max: 2.42
Current: 1.09

0.39
2.42
Yield on cost (5-Year) 2.60
TRGP's Yield on cost (5-Year) is ranked lower than
81% of the 158 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 5.66 vs. TRGP: 2.60 )
TRGP' s 10-Year Yield on cost (5-Year) Range
Min: 0.17   Max: 3.18
Current: 2.6

0.17
3.18
Share Buyback Rate -86.40
TRGP's Share Buyback Rate is ranked higher than
52% of the 134 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: -12.60 vs. TRGP: -86.40 )
TRGP' s 10-Year Share Buyback Rate Range
Min: 0   Max: -122.4
Current: -86.4

Valuation & Return

vs
industry
vs
history
Price/Median PS Value 1.38
TRGP's Price/Median PS Value is ranked higher than
69% of the 184 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 1.05 vs. TRGP: 1.38 )
TRGP' s 10-Year Price/Median PS Value Range
Min: 0.08   Max: 2.1
Current: 1.38

0.08
2.1
Earnings Yield (Greenblatt) 6.50
TRGP's Earnings Yield (Greenblatt) is ranked higher than
92% of the 170 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 4.10 vs. TRGP: 6.50 )
TRGP' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.8   Max: 8.6
Current: 6.5

3.8
8.6
Forward Rate of Return (Yacktman) -14.32
TRGP's Forward Rate of Return (Yacktman) is ranked higher than
60% of the 115 Companies
in the Global Oil & Gas Midstream industry.

( Industry Median: 1.01 vs. TRGP: -14.32 )
TRGP' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -14.4   Max: -14.1
Current: -14.32

-14.4
-14.1

Business Description

Industry: Oil & Gas - Midstream » Oil & Gas Midstream
Compare: » details
Traded in other countries:TAR.Germany,
Targa Resources Corp., is a Delaware corporation formed on October 27, 2005. The Company owns general and limited partner interests, including IDRs, in Targa Resources Partners LP, a Delaware limited partnership. It formed the Partnership in October 2006 to own, operate, acquire and develop a portfolio of complementary midstream energy assets. The Partnership is a provider of midstream natural gas, NGL, terminaling and crude oil gathering services in the United States. It is engaged in the business of: gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products; gathering, storage and terminaling crude oil, and storing, terminaling and selling refined petroleum products.The Partnership operates in two primary divisions: Natural Gas Gathering and Processing, consisting of two segments; Field Gathering and Processing and Coastal Gathering and Processing; and NGL Logistics and Marketing consisting of two segments: Logistics Assets and Marketing and Distribution. The Natural Gas Gathering and Processing division consists of gathering, compressing, dehydrating, treating, conditioning, processing, transporting and marketing natural gas. Assets are used in the gathering of natural gas produced from oil and gas wells and processing this gathered raw natural gas into merchantable natural gas by removing impurities and extracting a stream of combined NGLs or mixed NGLs. The Field Gathering and Processing segment assets are located in North Texas and in the Permian Basin of Texas and New Mexico. Its operations consist of the Permian Business, the Versado System, SAOU and the North Texas System. The Coastal Gathering and Processing segment assets are located in the onshore and near offshore regions of the Louisiana Gulf Coast accessing onshore and offshore gas supplies. The NGL Logistics and Marketing division is also referred to as the Downstream Business. It includes the activities necessary to fractionate mixed NGLs into finished NGL products—ethane, propane, normal butane, isobutane and natural gasoline—and provides certain value added services, such as the storage, terminalling, transportation, distribution and marketing of NGLs. The Marketing and Distribution segment includes marketing and purchasing NGLs in selected United States markets; marketing and supplying NGLs for refinery customers; and transporting, storing and selling propane and providing related propane logistics services to multi-state retailers, independent retailers and other end users. The Partnership's major competitors include Atlas Gas Pipeline Company, Copano Energy, L.L.C., WTG Gas Processing L.P., DCP Midstream Partners LP, Devon Energy Corp, Enbridge Inc., GulfSouth Pipeline Company, LP, Hanlan Gas Processing, Ltd., J W Operating Company, Louisiana Intrastate Gas and other interstate pipeline companies.
» More Articles for TRGP

Headlines

Articles On GuruFocus.com
Ron Baron Comments on Targa Resources Corp Jul 28 2014 
6 Dividend Stocks Raising Their Payouts and Yields Apr 21 2014 
Baron Funds Comments on Targa Resources Corp Feb 25 2014 
5 Dividend Stocks Providing a Growing Income Apr 16 2012 
Guru Stocks Raising Dividends: DOW, TOO, TRGP, IEX, PAA Apr 16 2012 
12 Fast-Growing Utilities with a Dividend Yield Above 3 Percent Nov 08 2011 
Dividend Roundup: CLF, TRGP, NGLS, PAA, PCAR, EEI Jul 12 2011 
Baron Funds Buys MCP, DEI, ISRG, TRGP, NYT, ARB, PLCM, Sells DLR, XRAY, BLUD, GET, WWE Feb 17 2011 

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