Targa Resources Is Back on Track. Does That Make Its Stock a Buy?

Targa Resources (NYSE: TRGP) had to make several hard decisions when the energy market went haywire last year. The midstream company cut its capital spending plan three times while slashing its dividend by 91%. Those moves allowed it to conserve cash to shore up its balance sheet amid lower oil and gas prices. 

While painful at the time, Targa's decisions enabled it to stay afloat, buying time while it waited for the energy market to recovery. That's now paying big dividends as market conditions have improved significantly this year. This turnaround was apparent in the company's recent second-quarter report.

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Source Fool.com