Targa Resources Stock Beta

TRGP Stock

USD 204.30 2.91 1.44%

Targa Resources fundamentals help investors to digest information that contributes to Targa Resources' financial success or failures. It also enables traders to predict the movement of Targa Stock. The fundamental analysis module provides a way to measure Targa Resources' intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Targa Resources stock.

Short Long Term Debt Total Total Assets

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Targa Resources Company Beta Analysis

Targa Resources' Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Beta

Covariance

Variance

More About Beta | All Equity Analysis

Current Targa Resources Beta

2.24

Most of Targa Resources' fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Targa Resources is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

Targa Beta Driver Correlations

Understanding the fundamental principles of building solid financial models for Targa Resources is extremely important. It helps to project a fair market value of Targa Stock properly, considering its historical fundamentals such as Beta. Since Targa Resources' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Targa Resources' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Targa Resources' interrelated accounts and indicators.

	Total Assets	Total Stockholder Equity	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Long Term Debt	Net Receivables	Total Liab	Total Current Assets	Treasury Stock	Short Term Debt	Property Plant Equipment	Net Tangible Assets	Good Will	Long Term Debt Total	Capital Surpluse	Deferred Long Term Liab	Long Term Investments	Accumulated Depreciation	Intangible Assets	Common Stock	Short Long Term Debt	Net Invested Capital	Net Working Capital	Capital Stock
Total Assets		0.71	0.21	0.79	-0.24	0.87	0.78	0.8	0.81	0.86	-0.6	0.8	1.0	0.51	0.25	0.76	0.83	0.55	0.65	-0.91	0.88	0.94	0.65	0.46	-0.38	0.3
Total Stockholder Equity	0.71		0.11	0.36	-0.12	0.54	0.34	0.39	0.43	0.41	-0.08	0.63	0.7	0.94	0.36	0.32	0.95	0.78	0.6	-0.64	0.68	0.83	0.55	0.18	-0.39	0.31
Current Deferred Revenue	0.21	0.11		-0.1	-0.87	0.13	-0.07	0.18	-0.06	0.27	0.04	-0.09	0.22	0.24	-0.1	-0.08	0.2	-0.1	0.62	-0.39	-0.05	0.24	-0.2	-0.51	0.28	0.34
Net Debt	0.79	0.36	-0.1		0.04	0.74	1.0	0.76	1.0	0.81	-0.9	0.66	0.77	0.08	0.08	1.0	0.55	0.39	0.3	-0.8	0.76	0.73	0.59	0.66	-0.34	0.1
Retained Earnings	-0.24	-0.12	-0.87	0.04		-0.23	0.02	-0.29	0.01	-0.27	0.02	0.0	-0.25	-0.26	0.12	0.04	-0.27	0.12	-0.68	0.45	0.07	-0.31	0.1	0.6	-0.06	-0.02
Accounts Payable	0.87	0.54	0.13	0.74	-0.23		0.73	0.96	0.78	0.91	-0.7	0.74	0.87	0.37	-0.04	0.71	0.68	0.47	0.44	-0.84	0.73	0.81	0.63	0.42	-0.49	0.1
Long Term Debt	0.78	0.34	-0.07	1.0	0.02	0.73		0.75	0.99	0.8	-0.9	0.63	0.76	0.06	0.08	1.0	0.54	0.37	0.31	-0.8	0.75	0.72	0.55	0.64	-0.3	0.11
Net Receivables	0.8	0.39	0.18	0.76	-0.29	0.96	0.75		0.78	0.94	-0.81	0.64	0.8	0.21	-0.11	0.74	0.57	0.43	0.36	-0.81	0.67	0.75	0.52	0.4	-0.36	0.03
Total Liab	0.81	0.43	-0.06	1.0	0.01	0.78	0.99	0.78		0.83	-0.9	0.69	0.8	0.15	0.07	0.99	0.61	0.45	0.33	-0.83	0.79	0.77	0.62	0.64	-0.38	0.11
Total Current Assets	0.86	0.41	0.27	0.81	-0.27	0.91	0.8	0.94	0.83		-0.82	0.73	0.86	0.21	-0.12	0.8	0.59	0.4	0.42	-0.87	0.75	0.77	0.62	0.53	-0.37	0.19
Treasury Stock	-0.6	-0.08	0.04	-0.9	0.02	-0.7	-0.9	-0.81	-0.9	-0.82		-0.54	-0.58	0.18	0.13	-0.91	-0.31	-0.26	-0.05	0.66	-0.62	-0.53	-0.49	-0.6	0.29	0.12
Short Term Debt	0.8	0.63	-0.09	0.66	0.0	0.74	0.63	0.64	0.69	0.73	-0.54		0.79	0.44	0.04	0.62	0.68	0.53	0.36	-0.69	0.83	0.72	0.96	0.63	-0.78	0.05
Property Plant Equipment	1.0	0.7	0.22	0.77	-0.25	0.87	0.76	0.8	0.8	0.86	-0.58	0.79		0.51	0.22	0.74	0.82	0.55	0.67	-0.91	0.85	0.94	0.64	0.45	-0.37	0.32
Net Tangible Assets	0.51	0.94	0.24	0.08	-0.26	0.37	0.06	0.21	0.15	0.21	0.18	0.44	0.51		0.22	0.03	0.86	0.69	0.64	-0.49	0.4	0.67	0.38	-0.09	-0.31	0.34
Good Will	0.25	0.36	-0.1	0.08	0.12	-0.04	0.08	-0.11	0.07	-0.12	0.13	0.04	0.22	0.22		0.06	0.28	0.16	0.1	-0.03	0.42	0.29	-0.07	-0.1	0.13	-0.09
Long Term Debt Total	0.76	0.32	-0.08	1.0	0.04	0.71	1.0	0.74	0.99	0.8	-0.91	0.62	0.74	0.03	0.06		0.52	0.36	0.28	-0.78	0.74	0.7	0.55	0.66	-0.29	0.11
Capital Surpluse	0.83	0.95	0.2	0.55	-0.27	0.68	0.54	0.57	0.61	0.59	-0.31	0.68	0.82	0.86	0.28	0.52		0.75	0.69	-0.81	0.74	0.94	0.57	0.21	-0.39	0.24
Deferred Long Term Liab	0.55	0.78	-0.1	0.39	0.12	0.47	0.37	0.43	0.45	0.4	-0.26	0.53	0.55	0.69	0.16	0.36	0.75		0.22	-0.45	0.6	0.69	0.47	0.39	-0.28	0.16
Long Term Investments	0.65	0.6	0.62	0.3	-0.68	0.44	0.31	0.36	0.33	0.42	-0.05	0.36	0.67	0.64	0.1	0.28	0.69	0.22		-0.74	0.31	0.68	0.24	-0.19	-0.13	0.5
Accumulated Depreciation	-0.91	-0.64	-0.39	-0.8	0.45	-0.84	-0.8	-0.81	-0.83	-0.87	0.66	-0.69	-0.91	-0.49	-0.03	-0.78	-0.81	-0.45	-0.74		-0.71	-0.91	-0.56	-0.29	0.34	-0.31
Intangible Assets	0.88	0.68	-0.05	0.76	0.07	0.73	0.75	0.67	0.79	0.75	-0.62	0.83	0.85	0.4	0.42	0.74	0.74	0.6	0.31	-0.71		0.83	0.73	0.63	-0.42	0.11
Common Stock	0.94	0.83	0.24	0.73	-0.31	0.81	0.72	0.75	0.77	0.77	-0.53	0.72	0.94	0.67	0.29	0.7	0.94	0.69	0.68	-0.91	0.83		0.58	0.31	-0.36	0.21
Short Long Term Debt	0.65	0.55	-0.2	0.59	0.1	0.63	0.55	0.52	0.62	0.62	-0.49	0.96	0.64	0.38	-0.07	0.55	0.57	0.47	0.24	-0.56	0.73	0.58		0.66	-0.85	0.0
Net Invested Capital	0.46	0.18	-0.51	0.66	0.6	0.42	0.64	0.4	0.64	0.53	-0.6	0.63	0.45	-0.09	-0.1	0.66	0.21	0.39	-0.19	-0.29	0.63	0.31	0.66		-0.36	0.16
Net Working Capital	-0.38	-0.39	0.28	-0.34	-0.06	-0.49	-0.3	-0.36	-0.38	-0.37	0.29	-0.78	-0.37	-0.31	0.13	-0.29	-0.39	-0.28	-0.13	0.34	-0.42	-0.36	-0.85	-0.36		0.25
Capital Stock	0.3	0.31	0.34	0.1	-0.02	0.1	0.11	0.03	0.11	0.19	0.12	0.05	0.32	0.34	-0.09	0.11	0.24	0.16	0.5	-0.31	0.11	0.21	0.0	0.16	0.25

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In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.

Competition

Predict Targa Resources

In accordance with the recently published financial statements, Targa Resources has a Beta of 2.237. This is 31.59% higher than that of the Oil, Gas & Consumable Fuels sector and 72.08% higher than that of the Energy industry. The beta for all United States stocks is notably lower than that of the firm.

Targa Beta Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Targa Resources' direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Targa Resources could also be used in its relative valuation, which is a method of valuing Targa Resources by comparing valuation metrics of similar companies.

Targa Resources is currently under evaluation in beta category among its peers.

Targa Resources ESG Sustainability

Some studies have found that companies with high sustainability scores are getting higher valuations than competitors with lower social-engagement activities. While most ESG disclosures are voluntary and do not directly affect the long term financial condition, Targa Resources' sustainability indicators can be used to identify proper investment strategies using environmental, social, and governance scores that are crucial to Targa Resources' managers, analysts, and investors.

Environmental

Governance

Social

Targa Resources Institutional Holders

Institutional Holdings refers to the ownership stake in Targa Resources that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Targa Resources' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Targa Resources' value.

		Shares
T. Rowe Price Associates, Inc.	2024-06-30	3.1 M
Fmr Inc	2024-09-30	2.9 M
Goldman Sachs Group Inc	2024-06-30	2.4 M
Norges Bank	2024-06-30	2.3 M
Dimensional Fund Advisors, Inc.	2024-09-30	2.2 M
Chickasaw Capital Management, Llc	2024-09-30	2.2 M
Legal & General Group Plc	2024-06-30	2.1 M
Northern Trust Corp	2024-09-30	2 M
Kayne Anderson Capital Advisors Lp	2024-09-30	1.9 M
Vanguard Group Inc	2024-09-30	27 M
Blackrock Inc	2024-06-30	20.6 M

As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Targa Resources will likely underperform.

Targa Fundamentals

	Return On Equity	0.34
	Return On Asset	0.0781
	Profit Margin	0.08 %
	Operating Margin	0.19 %
	Current Valuation	58.12 B
	Shares Outstanding	218.06 M
	Shares Owned By Insiders	1.40 %
	Shares Owned By Institutions	91.99 %
	Number Of Shares Shorted	3.3 M
	Price To Earning	75.42 X
	Price To Book	17.06 X
	Price To Sales	2.71 X
	Revenue	16.06 B
	Gross Profit	4.05 B
	EBITDA	3.97 B
	Net Income	1.58 B
	Cash And Equivalents	154 M
	Cash Per Share	0.68 X
	Total Debt	13.01 B
	Debt To Equity	1.70 %
	Current Ratio	0.69 X
	Book Value Per Share	11.79 X
	Cash Flow From Operations	3.21 B
	Short Ratio	2.09 X
	Earnings Per Share	5.54 X
	Price To Earnings To Growth	1.20 X
	Target Price	196.13
	Number Of Employees	3.18 K
	Beta	2.24
	Market Capitalization	43.92 B
	Total Asset	20.67 B
	Retained Earnings	492 M
	Working Capital	(566.3 M)
	Current Asset	920 M
	Current Liabilities	881.6 M
	Annual Yield	0.01 %
	Five Year Return	7.20 %
	Net Asset	20.67 B
	Last Dividend Paid	2.75

About Targa Resources Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Targa Resources's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Targa Resources using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Targa Resources based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.

Please read more on our fundamental analysis page.

Pair Trading with Targa Resources

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Targa Resources position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Targa Resources will appreciate offsetting losses from the drop in the long position's value.

Moving together with Targa Stock

0.74	AM	Antero Midstream Partners	Pair Corr
0.95	EE	Excelerate Energy	Pair Corr
0.93	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.84	DLNG	Dynagas LNG Partners	Pair Corr

Moving against Targa Stock

0.91	LPG	Dorian LPG	Pair Corr
0.85	NAT	Nordic American Tankers	Pair Corr
0.76	GEL	Genesis Energy LP	Pair Corr
0.71	FRO	Frontline	Pair Corr
0.69	PXSAW	Pyxis Tankers	Pair Corr

The ability to find closely correlated positions to Targa Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Targa Resources when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Targa Resources - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Targa Resources to buy it.

The correlation of Targa Resources is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Targa Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Targa Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Correlation analysis and pair trading evaluation for Targa Resources can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.

Pair Correlation Correlation Matching

Additional Tools for Targa Stock Analysis

When running Targa Resources' price analysis, check to measure Targa Resources' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Targa Resources is operating at the current time. Most of Targa Resources' value examination focuses on studying past and present price action to predict the probability of Targa Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Targa Resources' price. Additionally, you may evaluate how the addition of Targa Resources to your portfolios can decrease your overall portfolio volatility.

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