This Energy Stock Rocketed More Than 100% in 2024. Does It Have the Fuel to Continue Rallying in 2025?
Shares of Targa Resources (NYSE: TRGP) were blistering hot in 2024. The midstream company was up more than 105% heading into the final trading days of the year. Add in its dividend, and the total return was even higher. That absolutely crushed the S&P 500, which had a very strong year by delivering a total return of almost 30%.
Here’s a look at what fueled the energy stock’s rally this year, and whether it has the power to continue producing market-crushing returns in 2025.
Targa Resources had a very strong year in 2024. The pipeline company delivered a record $1.1 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) during the third quarter. The midstream company handled record volumes during the period across its Permian, natural gas liquids (NGL) transportation, and fractionation assets (fractionators separate NGLs into pure streams of ethane, propane, butane, and other products).
[#item_full_content]
