Targa Resources (TRGP) Stock Overview
Owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 3/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
TRGP Community Fair Values
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Analyst Price Targets
Targa Resources Corp. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$302.25 |
| 52 Week High | US$305.08 |
| 52 Week Low | US$144.14 |
| Beta | 0.72 |
| 1 Month Change | 7.86% |
| 3 Month Change | 9.21% |
| 1 Year Change | 86.46% |
| 3 Year Change | 259.44% |
| 5 Year Change | 593.71% |
| Change since IPO | 1,123.68% |
Recent News & Updates
Seeking Alpha • 5h
Targa Resources: Reloading The Chamber For Growth With ExxonMobil Deal
Summary Targa Resources secures a transformative 20-year midstream agreement with ExxonMobil, anchoring long-term growth and volume certainty. TRGP will invest in three new processing plants, a 70-mile pipeline, and potentially five additional plants, extending its aggressive growth trajectory. The XOM partnership delays the free cash flow inflection beyond 2028, but rising base EBITDA and project completions maintain positive FCF trends. I view TRGP as a BUY, with its premium valuation justified by robust growth prospects and a blue-chip customer base. Read the full article on Seeking Alpha
Narrative Update • Aug 19
TRGP: Permian Contracts And Capacity Expansions Will Support Balanced Future Returns
Targa Resources' analyst price target has been raised to $303.52 from $297.29 as analysts factor in higher revenue growth assumptions, slightly lower margin expectations, modestly reduced future P/E multiples, and a series of upward target revisions tied to expanded Permian processing capacity, updated EBITDA estimates, and recent research coverage. Analyst Commentary Recent Street research on Targa Resources has skewed positive, with a series of higher price targets and fresh coverage pointing to supportive views on growth, execution, and valuation.Narrative Update • Jul 30
TRGP: Permian Volumes And Exports Will Support Balanced Future Returns
Analysts have nudged the Targa Resources fair value estimate higher to about $297 per share, reflecting modestly adjusted assumptions for revenue growth, profit margins, and future P/E, along with a series of upward price target revisions across the Street. Analyst Commentary Recent Street research on Targa Resources points to an active debate on how much upside remains in the stock after a strong run, with most moves centered on higher price targets and refreshed growth and earnings assumptions.Recent updates
Seeking Alpha • 5h
Targa Resources: Reloading The Chamber For Growth With ExxonMobil Deal
Summary Targa Resources secures a transformative 20-year midstream agreement with ExxonMobil, anchoring long-term growth and volume certainty. TRGP will invest in three new processing plants, a 70-mile pipeline, and potentially five additional plants, extending its aggressive growth trajectory. The XOM partnership delays the free cash flow inflection beyond 2028, but rising base EBITDA and project completions maintain positive FCF trends. I view TRGP as a BUY, with its premium valuation justified by robust growth prospects and a blue-chip customer base. Read the full article on Seeking AlphaNarrative Update • Aug 19
TRGP: Permian Contracts And Capacity Expansions Will Support Balanced Future Returns
Targa Resources' analyst price target has been raised to $303.52 from $297.29 as analysts factor in higher revenue growth assumptions, slightly lower margin expectations, modestly reduced future P/E multiples, and a series of upward target revisions tied to expanded Permian processing capacity, updated EBITDA estimates, and recent research coverage. Analyst Commentary Recent Street research on Targa Resources has skewed positive, with a series of higher price targets and fresh coverage pointing to supportive views on growth, execution, and valuation.Narrative Update • Jul 30
TRGP: Permian Volumes And Exports Will Support Balanced Future Returns
Analysts have nudged the Targa Resources fair value estimate higher to about $297 per share, reflecting modestly adjusted assumptions for revenue growth, profit margins, and future P/E, along with a series of upward price target revisions across the Street. Analyst Commentary Recent Street research on Targa Resources points to an active debate on how much upside remains in the stock after a strong run, with most moves centered on higher price targets and refreshed growth and earnings assumptions.Narrative Update • Jul 16
TRGP: Permian Expansion And Exports Will Shape Balanced Future Returns
The analyst price target for Targa Resources has increased to $291.05 from $285.33. This reflects updated views from analysts who highlight resilient Permian volume expectations, potential marketing and export benefits, and a stronger earnings outlook supported by recent target increases across the midstream peer group.Narrative Update • Jun 22
TRGP: Permian Volumes And Insider Selling Will Shape Future Shareholder Returns
The analyst price target for Targa Resources has been nudged higher to reflect a fair value estimate of about $285. This view is supported by Street research citing expectations for sustained volume growth, potential marketing and export benefits, and what analysts describe as a more supportive earnings backdrop through the end of the decade.Analysis Article • Jun 16
Targa Resources (TRGP) Stock Could Be 8% Undervalued After Recent Share Price Weakness
Targa Resources (TRGP) has drawn fresh attention after recent share performance data showed a decline of about 4% over the past month, alongside a gain of roughly 9% over the past 3 months. See our latest analysis for Targa Resources. At a share price of $262.33, Targa Resources has seen short term momentum cool, with the 1 day share price return down 3.77% and the 30 day share price return down 3.55%. This comes even as the year to date share price return of 40.46% and the very strong 5 year...Narrative Update • Jun 04
TRGP: Permian Volume Projects And Capex Discipline Will Shape Future Shareholder Returns
Analysts have raised the implied fair value estimate for Targa Resources to $283.90 from $266.80. Higher price targets, tied to updated expectations for revenue growth, profit margins and a modestly higher future P/E, reflect stronger assumptions around marketing, export activity and the current energy backdrop.Narrative Update • May 10
TRGP: Permian Expansion And 2026 Capex Plan Will Support Dividend Growth
The Targa Resources analyst price target has been adjusted modestly higher to $266.80, with analysts pointing to updated growth capex plans, higher forecast EBITDA and shifts in applied P/E multiples as key inputs behind the change. Analyst Commentary Recent research on Targa Resources has been active, with a series of price target revisions and rating changes clustered around updated growth capex plans, EBITDA forecasts and applied P/E multiples.Narrative Update • Apr 23
TRGP: Permian Buildout And Higher 2026 Capex Will Support Dividend Outlook
Analysts have nudged the fair value estimate for Targa Resources higher, lifting the implied price target by about $4 to $264. This move is supported by a series of recent target increases that reflect updated growth projects, higher long term multiples and refined EBITDA forecasts across the Street.Narrative Update • Apr 09
TRGP: Permian Buildout And Higher 2026 Capex Will Support Dividend Outlook
Analysts have raised the Targa Resources price target by about $6 to reflect updated views on revenue, profit margins and future P/E, supported by a series of recent target increases across major research firms. Analyst Commentary Recent research updates cluster around higher price targets and largely constructive views on Targa Resources, but they also flag execution and capital allocation questions that matter if you are focused on risk and return balance.Narrative Update • Mar 26
TRGP: Permian Expansion And Elevated 2026 Capex Will Support Dividend Growth
The analyst price target for Targa Resources has been updated from $244.40 to $253.67. Analysts cite higher forecast profit margins, increased growth capex plans through 2026 and beyond, and updated models following recent Q4 results as key drivers of their revised views.Narrative Update • Mar 11
TRGP: Permian Buildout And Higher 2026 Capex Will Support Dividend Expansion
The analyst price target for Targa Resources in our model has increased by about $13.75 to $244.40, as analysts factor in stronger revenue growth assumptions, updated profit margin expectations, and higher valuation multiples following a series of upward target revisions across the Street. Analyst Commentary Recent research updates show a clear tilt toward higher valuation frameworks for Targa Resources, with multiple firms lifting their price targets following the latest Q4 report, updated capital plans, and revised margin assumptions.Narrative Update • Feb 24
TRGP: Permian Buildout And Dividend Plan Will Support Balanced Future Cash Returns
The analyst fair value estimate for Targa Resources has moved from $212.40 to $230.65. Analysts attribute this change to updated models after Q4 results, stronger medium- to long-term growth assumptions including three Permian processing plants per year, and recent Street price target increases into the $220 to $243 range.Analysis Article • Feb 12
Targa Resources Corp.'s (NYSE:TRGP) 27% Jump Shows Its Popularity With Investors
The Targa Resources Corp. ( NYSE:TRGP ) share price has done very well over the last month, posting an excellent gain...Narrative Update • Feb 09
TRGP: Permian Volumes And Diversification Will Underpin Balanced Future Cash Returns
Narrative Update on Targa Resources The updated analyst price target for Targa Resources edges higher to about US$212.40. Analysts point to recent target revisions, slight tweaks to growth, margins and discount rate assumptions, and ongoing confidence in the company’s diversified, multi segment footprint as key drivers of the change.Narrative Update • Jan 25
TRGP: Permian Volumes And Diversification Will Support Measured Future Cash Returns
Narrative Update: Targa Resources Analyst Price Target Shift The analyst price target for Targa Resources has moved higher to US$212.05, with analysts pointing to refined assumptions around revenue growth, profit margins and future P/E, alongside recent research highlighting Q3 outperformance, diversified midstream exposure and solid Permian volume trends as key supports for the updated view. Analyst Commentary Recent research on Targa Resources highlights a mix of optimism around execution and growth, alongside some caution on macro sensitivity and the midstream sector reset in price targets.Narrative Update • Jan 11
TRGP: Permian Volume Momentum And Diversification Will Support Future Cash Returns
Analysts have trimmed their average price targets on Targa Resources by about US$1 per share, reflecting modest adjustments to growth and discount rate assumptions, while still highlighting Q3 outperformance, diversified operations and Permian volume momentum as key supports for the valuation. Analyst Commentary Street research on Targa Resources reflects small downward moves in price targets, but commentary still leans constructive on execution, earnings quality and asset positioning.Narrative Update • Dec 26
TRGP: Expanding Permian Volumes Will Drive Future Cash Returns And Buybacks
The analyst price target for Targa Resources has been lifted modestly, from approximately $208.90 to $209.40, as analysts point to resilient Q3 results, diversified midstream exposure, and stronger than expected Permian growth prospects despite slightly lower Street price objectives. Analyst Commentary Bullish Takeaways Bullish analysts highlight that Q3 results exceeded expectations, reinforcing confidence in management execution and supporting a premium valuation multiple versus the midstream peer group.Narrative Update • Dec 11
TRGP: Expanded Permian Volumes Will Support Future Cash Returns And Buybacks
Analysts have trimmed their average price targets on Targa Resources by a few dollars per share to roughly the high $180s to low $200s range, reflecting modestly softer macro assumptions. At the same time, they highlight the company's diversified midstream footprint, resilient Permian growth outlook, and improving cash return profile.Narrative Update • Nov 27
TRGP: Expanding Permian Volumes Will Drive Profitability Amid Market Uncertainty
Analysts have modestly raised their fair value estimate for Targa Resources to $208.00. They cite the company's solid profit margins and commercial growth prospects, even though there have been broad reductions in sector price targets.Narrative Update • Sep 20
Permian And Export Developments Will Drive Long-Term Success
Despite Targa Resources' resilient Permian volumes, robust cash flow prospects, and investor focus on capital returns, analysts modestly lowered price targets—now $205.30—citing sector-wide valuation concerns and near-term growth already reflected in the stock after a significant rally. Analyst Commentary Bullish analysts cite Targa's strong positioning for natural gas, LNG, and natural gas liquid infrastructure expansion, underpinned by robust global power demand and high-quality asset selection.Narrative Update • Aug 29
Permian And Export Developments Will Drive Long-Term Success
Analysts have modestly raised their price target for Targa Resources to $207.95, citing strong fundamentals, resilient cash flows, and ongoing strength in Permian volumes, though some caution that substantial stock appreciation has fully reflected growth potential. Analyst Commentary Bullish analysts cite Targa’s strong fundamentals, resilient cash flows, and the ability to return capital to shareholders as reasons for increased price targets, especially given expectations for higher volumes and stable producer activity in the Permian.Seeking Alpha • Mar 21
Targa Resources May Still Interest Growth Investors
Summary Targa Resources Corporation, a $43.5 billion market cap gas midstream company focused on NGLs, offers a dividend yield of $3.00/share (1.5%) with an expected increase to $2.00/share (2.0%). The company dominates a much needed natural gas processing capacity niche in the Permian Basin. Waha prices remain pressured, which benefits Targa. Targa’s stock price is up over 50% in less than a year, but the company has good growth projects underway. Read the full article on Seeking AlphaSeeking Alpha • Feb 06
Targa Resources: From Commodity Exposure To Fee-Based Stability
Summary Over the past decade, Targa has transformed into a fee-based midstream operator. The company’s growth is driven by expanding assets in the Permian Basin, increasing processing capacity, and enhancing infrastructure. Despite its focus on fee-based revenue, strong cash flow, and capital allocation, I have some concerns about its high reinvestment rate, high debt-capital ratio, and low cash position. TRGP is well-positioned for long-term stability and growth. However, my valuation showed that there is no margin of safety at the current market price. Read the full article on Seeking AlphaSeeking Alpha • Nov 11
Targa Resources: Assuming The Past Never Happens Again
Summary Target Resources cut its dividend in 2020 to repay debt faster, reflecting its aggressive growth strategy. Midstream earnings are protected by "take-or-pay" contracts, but growth often slows during cyclical downturns (of customer upstream companies). The cyclical nature of the upstream business means growth will eventually slow, affecting stock performance. TRGP's rapid dividend growth, recently increased to $4 from $3, highlights its aggressive strategy, making it atypical for midstream investments. The time to invest in a company like this is when it is out of favor. Read the full article on Seeking AlphaShareholder Returns
| TRGP | US Oil and Gas | US Market | |
|---|---|---|---|
| 7D | 13.3% | 3.4% | -0.8% |
| 1Y | 86.5% | 42.1% | 20.5% |
Return vs Industry: TRGP exceeded the US Oil and Gas industry which returned 42.1% over the past year.
Return vs Market: TRGP exceeded the US Market which returned 20.5% over the past year.
Price Volatility
| TRGP volatility | |
|---|---|
| TRGP Average Weekly Movement | 4.8% |
| Oil and Gas Industry Average Movement | 6.1% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.4% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: TRGP has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: TRGP's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2005 | 3,570 | Matt Meloy | www.targaresources.com |
Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.
Targa Resources Corp. Fundamentals Summary
| TRGP fundamental statistics | |
|---|---|
| Market cap | US$63.71b |
| Earnings (TTM) | US$2.26b |
| Revenue (TTM) | US$16.74b |
28.7x
P/E Ratio3.9x
P/S RatioIs TRGP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| TRGP income statement (TTM) | |
|---|---|
| Revenue | US$16.74b |
| Cost of Revenue | US$9.51b |
| Gross Profit | US$7.23b |
| Other Expenses | US$4.98b |
| Earnings | US$2.26b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 10.52 |
| Gross Margin | 43.19% |
| Net Profit Margin | 13.47% |
| Debt/Equity Ratio | 494.9% |
How did TRGP perform over the long term?
See historical performance and comparisonDividends
1.7%
Current Dividend Yield43%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/20 21:47 |
| End of Day Share Price | 2026/08/20 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Targa Resources Corp. is covered by 34 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ethan Bellamy | Baird |
| Richard Gross | Barclays |
| Theresa Chen | Barclays |