Targa Resources Corp. (TRGP)

Natural Gas Transmission

Latest Price

$314.99

TTM P/E

30.11

Normalized P/E

57.30

TTM Div Yield

1.35%

Fwd Div Yield

1.59%

Book Value

17.04

P/B Ratio

18.49

Valuation metrics

EPS: $8.49

Book value / share: $14.29

Formula: √(22.5 × EPS × BVPS)

Graham Number

$52.25

83% downside

Norm. op. income: $2.2B (median of 6yr)

Tax rate: 19%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$0.76

100% downside

EPS: $8.49

Target P/E: 57×

Formula: EPS × P/E

P/E Fair Value

$483.93

+54% upside

93.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	20.83M	$5.59B	9.72%	+291.1K	2026-06-30
State Street Corp	14.23M	$3.81B	6.63%	+626.9K	2026-06-30
Wellington Management Group LLP	14.18M	$3.80B	6.61%	-867.1K	2026-06-30
Vanguard Capital Management LLC	14.02M	$3.76B	6.54%	+65.2K	2026-06-30
Vanguard Portfolio Management LLC	11.70M	$3.14B	5.46%	-153.8K	2026-06-30
Harris Associates L P	7.94M	$2.13B	3.70%	-785.7K	2026-06-30
Geode Capital Management, LLC	6.08M	$1.63B	2.84%	+75.2K	2026-06-30
Norges Bank	4.22M	$1.13B	1.97%	+228.4K	2026-06-30
Blackstone Inc.	3.60M	$965.0M	1.68%	+259.6K	2026-06-30
Morgan Stanley	3.56M	$954.0M	1.66%	+341.3K	2026-06-30