Targa Free Cash Flow vs Free Cash Flow Per Share Analysis

TRGP Stock

USD 183.99 1.35 0.73%

Targa Resources financial indicator trend analysis is much more than just breaking down Targa Resources prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Targa Resources is a good investment. Please check the relationship between Targa Resources Free Cash Flow and its Free Cash Flow Per Share accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Targa Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Targa Stock, please use our How to Invest in Targa Resources guide.

Free Cash Flow vs Free Cash Flow Per Share

Free Cash Flow vs Free Cash Flow Per Share Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Targa Resources Free Cash Flow account and Free Cash Flow Per Share. At this time, the significance of the direction appears to have very strong relationship.

The correlation between Targa Resources' Free Cash Flow and Free Cash Flow Per Share is 0.81. Overlapping area represents the amount of variation of Free Cash Flow that can explain the historical movement of Free Cash Flow Per Share in the same time period over historical financial statements of Targa Resources, assuming nothing else is changed. The correlation between historical values of Targa Resources' Free Cash Flow and Free Cash Flow Per Share is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Free Cash Flow of Targa Resources are associated (or correlated) with its Free Cash Flow Per Share. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Free Cash Flow Per Share has no effect on the direction of Free Cash Flow i.e., Targa Resources' Free Cash Flow and Free Cash Flow Per Share go up and down completely randomly.

Correlation Coefficient

0.81

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Free Cash Flow

The amount of cash a company generates after accounting for cash outflows to support operations and maintain its capital assets.

Free Cash Flow Per Share

The amount of cash a company generates after accounting for capital expenditures, divided by the number of outstanding shares. It represents the cash available for dividends, share buybacks, or debt repayment per share.

Most indicators from Targa Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Targa Resources current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Targa Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Targa Stock, please use our How to Invest in Targa Resources guide.As of 12/11/2024, Tax Provision is likely to grow to about 284 M, while Selling General Administrative is likely to drop slightly above 220.9 M.

	2021	2022	2023	2024 (projected)
Interest Expense	387.9M	446.1M	687.8M	722.2M
Depreciation And Amortization	874.6M	1.1B	1.3B	1.4B

Interest Expense Depreciation And Amortization

Targa Resources fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Long Term Debt	Cash And Short Term Investments	Net Receivables	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Preferred Stock Total Equity
Common Stock Shares Outstanding		0.92	0.66	0.63	0.87	0.81	0.85	0.92	0.35	0.66	-0.43	0.85	0.25	0.91	-0.38	0.2	0.65	0.25	0.8	0.63	0.5	0.48	-0.07	0.71	0.7	0.71
Total Assets	0.92		0.79	0.54	0.89	0.71	0.8	1.0	0.21	0.79	-0.24	0.87	0.25	1.0	-0.27	0.12	0.78	0.25	0.8	0.76	0.62	0.53	-0.17	0.81	0.78	0.6
Short Long Term Debt Total	0.66	0.79		0.54	0.75	0.37	0.54	0.79	-0.08	1.0	0.03	0.74	0.14	0.78	0.06	0.15	1.0	0.14	0.75	0.99	0.91	0.78	-0.28	1.0	0.96	0.38
Other Current Liab	0.63	0.54	0.54		0.79	0.17	0.27	0.55	0.3	0.54	-0.53	0.72	0.18	0.52	0.09	0.32	0.53	0.18	0.79	0.49	0.48	0.67	-0.4	0.57	0.63	0.39
Total Current Liabilities	0.87	0.89	0.75	0.79		0.59	0.69	0.88	0.16	0.75	-0.26	0.94	0.25	0.87	-0.2	0.05	0.73	0.25	0.9	0.71	0.67	0.64	-0.34	0.79	0.8	0.6
Total Stockholder Equity	0.81	0.71	0.37	0.17	0.59		0.9	0.71	0.11	0.36	-0.12	0.54	0.2	0.73	-0.71	-0.07	0.34	0.2	0.39	0.36	0.21	0.06	0.22	0.43	0.38	0.64
Other Liab	0.85	0.8	0.54	0.27	0.69	0.9		0.8	0.05	0.54	-0.05	0.68	0.09	0.81	-0.7	-0.1	0.52	0.09	0.61	0.55	0.45	0.31	-0.01	0.6	0.56	0.67
Property Plant And Equipment Net	0.92	1.0	0.79	0.55	0.88	0.71	0.8		0.22	0.78	-0.25	0.86	0.27	1.0	-0.26	0.13	0.78	0.27	0.8	0.76	0.6	0.51	-0.13	0.81	0.78	0.6
Current Deferred Revenue	0.35	0.21	-0.08	0.3	0.16	0.11	0.05	0.22		-0.1	-0.87	0.13	0.52	0.2	0.06	0.38	-0.07	0.52	0.18	-0.14	-0.24	0.21	-0.17	-0.06	0.0	0.49
Net Debt	0.66	0.79	1.0	0.54	0.75	0.36	0.54	0.78	-0.1		0.04	0.74	0.12	0.77	0.06	0.15	1.0	0.12	0.76	0.99	0.92	0.78	-0.28	1.0	0.96	0.37
Retained Earnings	-0.43	-0.24	0.03	-0.53	-0.26	-0.12	-0.05	-0.25	-0.87	0.04		-0.23	-0.27	-0.24	-0.02	-0.59	0.02	-0.27	-0.29	0.08	0.19	-0.19	0.05	0.01	-0.07	-0.39
Accounts Payable	0.85	0.87	0.74	0.72	0.94	0.54	0.68	0.86	0.13	0.74	-0.23		0.03	0.85	-0.15	-0.04	0.73	0.03	0.96	0.71	0.68	0.56	-0.26	0.78	0.82	0.49
Cash	0.25	0.25	0.14	0.18	0.25	0.2	0.09	0.27	0.52	0.12	-0.27	0.03		0.25	0.17	0.24	0.13	1.0	0.01	0.09	-0.06	0.33	-0.09	0.15	0.1	0.67
Non Current Assets Total	0.91	1.0	0.78	0.52	0.87	0.73	0.81	1.0	0.2	0.77	-0.24	0.85	0.25		-0.29	0.12	0.77	0.25	0.78	0.75	0.6	0.5	-0.14	0.8	0.77	0.59
Non Currrent Assets Other	-0.38	-0.27	0.06	0.09	-0.2	-0.71	-0.7	-0.26	0.06	0.06	-0.02	-0.15	0.17	-0.29		0.24	0.09	0.17	-0.06	0.06	0.06	0.19	-0.02	0.01	0.04	-0.31
Other Assets	0.2	0.12	0.15	0.32	0.05	-0.07	-0.1	0.13	0.38	0.15	-0.59	-0.04	0.24	0.12	0.24		0.16	0.24	0.03	0.12	0.04	0.3	0.06	0.12	0.04	0.19
Long Term Debt	0.65	0.78	1.0	0.53	0.73	0.34	0.52	0.78	-0.07	1.0	0.02	0.73	0.13	0.77	0.09	0.16		0.13	0.75	0.99	0.91	0.78	-0.27	0.99	0.96	0.37
Cash And Short Term Investments	0.25	0.25	0.14	0.18	0.25	0.2	0.09	0.27	0.52	0.12	-0.27	0.03	1.0	0.25	0.17	0.24	0.13		0.01	0.09	-0.06	0.33	-0.09	0.15	0.1	0.67
Net Receivables	0.8	0.8	0.75	0.79	0.9	0.39	0.61	0.8	0.18	0.76	-0.29	0.96	0.01	0.78	-0.06	0.03	0.75	0.01		0.74	0.72	0.69	-0.37	0.78	0.85	0.47
Non Current Liabilities Total	0.63	0.76	0.99	0.49	0.71	0.36	0.55	0.76	-0.14	0.99	0.08	0.71	0.09	0.75	0.06	0.12	0.99	0.09	0.74		0.91	0.76	-0.23	0.99	0.96	0.36
Inventory	0.5	0.62	0.91	0.48	0.67	0.21	0.45	0.6	-0.24	0.92	0.19	0.68	-0.06	0.6	0.06	0.04	0.91	-0.06	0.72	0.91		0.81	-0.48	0.91	0.88	0.22
Other Current Assets	0.48	0.53	0.78	0.67	0.64	0.06	0.31	0.51	0.21	0.78	-0.19	0.56	0.33	0.5	0.19	0.3	0.78	0.33	0.69	0.76	0.81		-0.64	0.78	0.78	0.48
Other Stockholder Equity	-0.07	-0.17	-0.28	-0.4	-0.34	0.22	-0.01	-0.13	-0.17	-0.28	0.05	-0.26	-0.09	-0.14	-0.02	0.06	-0.27	-0.09	-0.37	-0.23	-0.48	-0.64		-0.27	-0.28	-0.05
Total Liab	0.71	0.81	1.0	0.57	0.79	0.43	0.6	0.81	-0.06	1.0	0.01	0.78	0.15	0.8	0.01	0.12	0.99	0.15	0.78	0.99	0.91	0.78	-0.27		0.97	0.43
Property Plant And Equipment Gross	0.7	0.78	0.96	0.63	0.8	0.38	0.56	0.78	0.0	0.96	-0.07	0.82	0.1	0.77	0.04	0.04	0.96	0.1	0.85	0.96	0.88	0.78	-0.28	0.97		0.43
Preferred Stock Total Equity	0.71	0.6	0.38	0.39	0.6	0.64	0.67	0.6	0.49	0.37	-0.39	0.49	0.67	0.59	-0.31	0.19	0.37	0.67	0.47	0.36	0.22	0.48	-0.05	0.43	0.43

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Targa Resources Account Relationship Matchups

Targa Resources fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	232.5M	232.2M	228.6M	231.1M	226M	134.9M
Total Assets	18.8B	15.9B	15.2B	19.6B	20.7B	12.3B
Short Long Term Debt Total	7.9B	7.8B	6.6B	11.6B	13.0B	13.7B
Other Current Liab	110.5M	577M	720.6M	749.3M	519.6M	300.0M
Total Current Liabilities	1.9B	1.8B	2.3B	3.1B	2.8B	1.6B
Total Stockholder Equity	5.2B	3.0B	2.8B	2.7B	2.7B	2.5B
Other Liab	733.4M	458.4M	512.4M	780.4M	897.5M	456.6M
Property Plant And Equipment Net	14.5B	12.2B	11.7B	14.2B	15.8B	9.2B
Current Deferred Revenue	382.8M	434.4M	475.2M	327.7M	(23.9M)	(22.7M)
Net Debt	7.5B	7.6B	6.5B	11.3B	12.9B	13.5B
Retained Earnings	(339.6M)	(1.9B)	(1.8B)	(626.8M)	492M	516.6M
Accounts Payable	997.1M	833.8M	1.4B	1.4B	1.6B	852.8M
Cash	331.1M	242.8M	158.5M	219M	141.7M	142.5M
Non Current Assets Total	17.2B	14.4B	13.4B	17.2B	18.5B	11.0B
Non Currrent Assets Other	53.9M	96.1M	81.7M	(204.8M)	173.9M	182.6M
Other Assets	47.4M	860M	89.4M	122.9M	141.3M	160.3M
Long Term Debt	7.4B	7.4B	6.4B	10.5B	12.1B	12.7B
Cash And Short Term Investments	331.1M	242.8M	158.5M	219M	141.7M	142.5M
Net Receivables	855M	862.8M	1.3B	1.4B	1.5B	850.6M
Liabilities And Stockholders Equity	18.8B	15.9B	15.2B	19.6B	20.7B	12.3B
Non Current Liabilities Total	8.2B	7.9B	7.0B	11.5B	14.7B	15.4B
Inventory	161.5M	181.5M	153.4M	393.8M	371.5M	390.1M
Other Current Assets	69.7M	173.2M	126M	335.4M	210.4M	220.9M
Other Stockholder Equity	5.2B	4.7B	4.1B	(35.9B)	2.2B	2.3B
Total Liab	10.1B	9.7B	9.3B	14.6B	16.1B	16.9B
Property Plant And Equipment Gross	14.5B	12.2B	20.6B	23.9B	26.3B	27.6B
Total Current Assets	1.7B	1.5B	1.8B	2.4B	2.2B	1.4B
Accumulated Other Comprehensive Income	92.5M	(141.8M)	(230.9M)	54.7M	85.6M	89.9M
Treasury Stock	(53.5M)	(150.9M)	(204.1M)	(464.7M)	(418.2M)	(397.3M)
Short Term Debt	382.2M	368.6M	175.6M	868.6M	666.4M	358.0M
Property Plant Equipment	14.6B	12.2B	11.7B	14.2B	16.3B	8.7B
Net Tangible Assets	3.1B	1.6B	1.7B	(68.9M)	(79.2M)	(75.3M)
Noncontrolling Interest In Consolidated Entity	3.5B	3.2B	3.2B	2.3B	2.7B	2.5B
Retained Earnings Total Equity	(339.6M)	(1.9B)	(1.8B)	(626.8M)	(564.1M)	(592.3M)
Long Term Debt Total	7.4B	7.4B	6.4B	10.7B	12.3B	12.9B
Capital Surpluse	5.2B	4.8B	4.3B	3.7B	4.3B	3.8B

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

0.72	AM	Antero Midstream Partners	Pair Corr
0.95	EE	Excelerate Energy	Pair Corr
0.9	ET	Energy Transfer LP	Pair Corr
0.84	DLNG	Dynagas LNG Partners	Pair Corr

Moving against Targa Stock

0.91	LPG	Dorian LPG	Pair Corr
0.9	PXS	Pyxis Tankers	Pair Corr
0.86	NAT	Nordic American Tankers	Pair Corr
0.76	GEL	Genesis Energy LP	Pair Corr
0.74	FRO	Frontline	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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