Targa Accounts Payable vs Net Debt Analysis

TRGP Stock

USD 146.80 0.49 0.33%

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 Accounts Payable and its Net Debt 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.

Accounts Payable vs Net Debt

Accounts Payable vs Net Debt Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Targa Resources Accounts Payable account and Net Debt. At this time, the significance of the direction appears to have strong relationship.

The correlation between Targa Resources' Accounts Payable and Net Debt is 0.74. Overlapping area represents the amount of variation of Accounts Payable that can explain the historical movement of Net Debt 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' Accounts Payable and Net Debt is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Accounts Payable of Targa Resources are associated (or correlated) with its Net Debt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Debt has no effect on the direction of Accounts Payable i.e., Targa Resources' Accounts Payable and Net Debt go up and down completely randomly.

Correlation Coefficient

0.74

Relationship Direction	Positive
Relationship Strength	Significant

View All Relationships

Accounts Payable

An accounting item on the balance sheet that represents Targa Resources obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of Targa Resources are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.

Net Debt

The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.

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 09/28/2024, 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)
Gross Profit	2.3B	3.0B	2.5B	1.6B
Total Revenue	16.9B	20.9B	15.6B	10.3B

Gross Profit Total Revenue

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		0.91	0.66	0.41	0.87	0.81	0.85	0.92	0.57	0.66	-0.43	0.85	0.25	0.9	-0.39	0.2	0.65	0.32	0.8	0.63	0.5	0.43	-0.06	0.67	0.7	0.71
Total Assets	0.91		0.8	0.44	0.89	0.7	0.8	1.0	0.54	0.8	-0.22	0.87	0.24	1.0	-0.27	0.11	0.79	0.38	0.81	0.77	0.63	0.44	-0.27	0.79	0.79	0.59
Short Long Term Debt Total	0.66	0.8		0.69	0.75	0.37	0.54	0.79	0.55	1.0	0.03	0.74	0.14	0.79	0.03	0.15	1.0	0.37	0.75	0.99	0.91	0.51	-0.71	1.0	0.96	0.38
Other Current Liab	0.41	0.44	0.69		0.67	0.18	0.28	0.42	0.18	0.69	0.17	0.59	0.04	0.42	0.08	-0.04	0.67	0.25	0.62	0.68	0.69	0.36	-0.67	0.72	0.71	0.17
Total Current Liabilities	0.87	0.89	0.75	0.67		0.59	0.69	0.88	0.47	0.75	-0.26	0.94	0.25	0.87	-0.21	0.05	0.73	0.36	0.9	0.71	0.67	0.54	-0.36	0.76	0.8	0.6
Total Stockholder Equity	0.81	0.7	0.37	0.18	0.59		0.9	0.71	0.13	0.36	-0.12	0.54	0.2	0.71	-0.72	-0.07	0.34	0.2	0.39	0.36	0.21	0.1	0.25	0.4	0.38	0.64
Other Liab	0.85	0.8	0.54	0.28	0.69	0.9		0.8	0.26	0.54	-0.05	0.68	0.09	0.81	-0.71	-0.1	0.52	0.17	0.61	0.55	0.45	0.3	-0.05	0.57	0.56	0.67
Property Plant And Equipment Net	0.92	1.0	0.79	0.42	0.88	0.71	0.8		0.55	0.78	-0.25	0.86	0.27	1.0	-0.27	0.13	0.78	0.39	0.8	0.76	0.6	0.43	-0.22	0.78	0.78	0.6
Current Deferred Revenue	0.57	0.54	0.55	0.18	0.47	0.13	0.26	0.55		0.54	-0.58	0.5	0.48	0.52	0.34	0.43	0.58	0.57	0.61	0.54	0.38	0.71	-0.26	0.55	0.61	0.61
Net Debt	0.66	0.8	1.0	0.69	0.75	0.36	0.54	0.78	0.54		0.04	0.74	0.12	0.79	0.03	0.15	1.0	0.35	0.76	0.99	0.92	0.5	-0.72	1.0	0.96	0.37
Retained Earnings	-0.43	-0.22	0.03	0.17	-0.26	-0.12	-0.05	-0.25	-0.58	0.04		-0.23	-0.27	-0.21	-0.03	-0.59	0.02	-0.12	-0.29	0.08	0.19	-0.3	-0.39	0.05	-0.07	-0.39
Accounts Payable	0.85	0.87	0.74	0.59	0.94	0.54	0.68	0.86	0.5	0.74	-0.23		0.03	0.86	-0.17	-0.04	0.73	0.18	0.96	0.71	0.68	0.42	-0.37	0.75	0.82	0.49
Cash	0.25	0.24	0.14	0.04	0.25	0.2	0.09	0.27	0.48	0.12	-0.27	0.03		0.23	0.18	0.24	0.13	0.94	0.01	0.09	-0.06	0.64	0.08	0.12	0.1	0.67
Non Current Assets Total	0.9	1.0	0.79	0.42	0.87	0.71	0.81	1.0	0.52	0.79	-0.21	0.86	0.23		-0.29	0.11	0.78	0.36	0.79	0.76	0.62	0.41	-0.24	0.78	0.78	0.58
Non Currrent Assets Other	-0.39	-0.27	0.03	0.08	-0.21	-0.72	-0.71	-0.27	0.34	0.03	-0.03	-0.17	0.18	-0.29		0.24	0.06	0.27	-0.07	0.03	0.04	0.13	-0.33	0.01	0.02	-0.32
Other Assets	0.2	0.11	0.15	-0.04	0.05	-0.07	-0.1	0.13	0.43	0.15	-0.59	-0.04	0.24	0.11	0.24		0.16	0.24	0.03	0.12	0.04	0.24	0.05	0.11	0.04	0.19
Long Term Debt	0.65	0.79	1.0	0.67	0.73	0.34	0.52	0.78	0.58	1.0	0.02	0.73	0.13	0.78	0.06	0.16		0.37	0.75	0.99	0.91	0.51	-0.72	0.99	0.96	0.37
Cash And Short Term Investments	0.32	0.38	0.37	0.25	0.36	0.2	0.17	0.39	0.57	0.35	-0.12	0.18	0.94	0.36	0.27	0.24	0.37		0.18	0.34	0.18	0.7	-0.18	0.37	0.32	0.69
Net Receivables	0.8	0.81	0.75	0.62	0.9	0.39	0.61	0.8	0.61	0.76	-0.29	0.96	0.01	0.79	-0.07	0.03	0.75	0.18		0.74	0.72	0.54	-0.49	0.77	0.85	0.47
Non Current Liabilities Total	0.63	0.77	0.99	0.68	0.71	0.36	0.55	0.76	0.54	0.99	0.08	0.71	0.09	0.76	0.03	0.12	0.99	0.34	0.74		0.91	0.47	-0.73	1.0	0.96	0.36
Inventory	0.5	0.63	0.91	0.69	0.67	0.21	0.45	0.6	0.38	0.92	0.19	0.68	-0.06	0.62	0.04	0.04	0.91	0.18	0.72	0.91		0.49	-0.85	0.91	0.88	0.22
Other Current Assets	0.43	0.44	0.51	0.36	0.54	0.1	0.3	0.43	0.71	0.5	-0.3	0.42	0.64	0.41	0.13	0.24	0.51	0.7	0.54	0.47	0.49		-0.47	0.5	0.53	0.71
Other Stockholder Equity	-0.06	-0.27	-0.71	-0.67	-0.36	0.25	-0.05	-0.22	-0.26	-0.72	-0.39	-0.37	0.08	-0.24	-0.33	0.05	-0.72	-0.18	-0.49	-0.73	-0.85	-0.47		-0.71	-0.67	0.03
Total Liab	0.67	0.79	1.0	0.72	0.76	0.4	0.57	0.78	0.55	1.0	0.05	0.75	0.12	0.78	0.01	0.11	0.99	0.37	0.77	1.0	0.91	0.5	-0.71		0.97	0.4
Property Plant And Equipment Gross	0.7	0.79	0.96	0.71	0.8	0.38	0.56	0.78	0.61	0.96	-0.07	0.82	0.1	0.78	0.02	0.04	0.96	0.32	0.85	0.96	0.88	0.53	-0.67	0.97		0.43
Preferred Stock Total Equity	0.71	0.59	0.38	0.17	0.6	0.64	0.67	0.6	0.61	0.37	-0.39	0.49	0.67	0.58	-0.32	0.19	0.37	0.69	0.47	0.36	0.22	0.71	0.03	0.4	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	22.0B	12.4B
Short Long Term Debt Total	7.9B	7.8B	6.6B	11.6B	13.0B	13.7B
Other Current Liab	110.5M	142.6M	258.2M	455.9M	565.3M	593.6M
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	376.9M	284.0M
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	19.8B	11.1B
Non Currrent Assets Other	53.9M	96.1M	81.7M	(204.8M)	140.6M	147.6M
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	253.6M	203.6M
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	22.0B	12.4B
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	87.7M	82.9M	155.5M	98.5M	67.6M
Other Stockholder Equity	5.2B	4.7B	4.1B	(16.3B)	(18.5B)	(17.6B)
Total Liab	10.1B	9.7B	9.3B	14.6B	17.4B	18.3B
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	162.8M	834.3M	620.7M	350.7M
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 against Targa Stock

0.73	LPG	Dorian LPG	Pair Corr
0.62	GEL	Genesis Energy LP	Pair Corr
0.6	BROGW	Brooge Energy Limited	Pair Corr
0.52	DLNG	Dynagas LNG Partners	Pair Corr
0.49	TEN	Tsakos Energy Navigation Symbol Change	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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