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Targa Resources (TRGP) stock has tripled in the last year, outperforming its peers in the sector. Let’s take a look at the stock’s current valuation.
According to Targa Resources’ (TRGP) guidance for 2017, the company expects “dividend coverage to exceed 1.0 times assuming a $3.64 per common share 2017 dividend.”
Targa Resources reported its 4Q16 results on February 15, 2016. Targa's distributable cash flow rose to $246.2 million in 4Q16, compared to $216.1 million in 4Q15.