NYSE:TRGPOil and Gas
Targa Resources (TRGP) Stock Pullback Meets Record Profit Run And Rich P E
Targa Resources stock gave back 4.2% today and is down over the past month, even though the company just printed one of its most powerful profit runs yet. The disconnect starts with Q2 adjusted earnings power. Net income excluding special items reached US$764.6m on revenue of US$4.4b, while adjusted EBITDA hit US$1.603b, helped by record Permian volumes and downstream throughput.
So the near term tape looks shaky, but the headline is clear. Targa Resources just put up a quarter that supports...