Targa Resources appointed former ConocoPhillips executive Thomas Mathiasmeier as a Class II director and Audit Committee member, following a quarterly dividend declaration. The company's share price has returned 7.54% over the past 30 days and 52.30% year-to-date, with a 5-year total shareholder return of about 6x. Targa Resources is currently trading at $284.45 against a narrative fair value of $291.05, suggesting it is 2.3% undervalued, though its P/E of 28.8x exceeds the US Oil and Gas industry average of 14.3x and a peer average of 16.4x.
Targa Resources IncAppointment of new director and dividend declaration are positive corporate actions.
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