TRGP

Targa Resources Corp

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165.220

+0.79(0.480%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

167.910

Open

162.960

VWAP

165.34

Vol

1.59M

Mkt Cap

35.55B

Low

161.540

Amount

262.34M

EV/EBITDA(TTM)

11.09

Total Shares

221.72M

52.24B

EV/OCF(TTM)

14.19

P/S(TTM)

2.08

Targa Resources Corp. is a provider of midstream services in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and delivers energy across the United States. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas (LPG) exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. Its segments are Gathering and Processing, and Logistics and Transportation. Gathering and Processing segment includes assets used in the gathering and/or purchase and sale of natural gas produced from oil and gas wells. Logistics and Transportation segment includes the activities and assets necessary to convert mixed NGLs into NGL products.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

5.68B

+24.58%

2.181

+139.71%

5.00B

+13.58%

2.184

+51.68%

4.63B

+20.15%

2.070

+18.31%

Estimates Revision

The market is revising Downward the revenue expectations for Targa Resources Corp. (TRGP) for FY2025, with the revenue forecasts being adjusted by -6.8% over the past three months. During the same period, the stock price has changed by 0.30%.

Revenue Estimates for FY2025

Revise Downward

-6.8%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+7.8%

In Past 3 Month

Stock Price

Go Up

+0.30%

In Past 3 Month

15 Analyst Rating

Wall Street analysts forecast TRGP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TRGP is 203.53 USD with a low forecast of 177.00 USD and a high forecast of 240.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

13 Buy

2 Hold

0 Sell

Strong Buy

Current: 165.220

Low

177.00

Averages

203.53

High

240.00

Current: 165.220

Low

177.00

Averages

203.53

High

240.00

BofA

Jean Ann Salisbury

Buy

downgrade

$220 -> $200

2025-09-18

New

Reason

BofA

Jean Ann Salisbury

Price Target

$220 -> $200

2025-09-18

New

downgrade

Buy

Reason

BofA analyst Jean Ann Salisbury lowered the firm's price target on Targa Resources to $200 from $220 and keeps a Buy rating on the shares. The firm is updating its price targets for Integrated, Refining, and Midstream stocks under its coverage, the analyst tells investors. Following a two-year stint where midstream companies were incentivized to grow, the firm believes investors will return to looking for return of cash as the primary metric, with the ability to reduce growth in capex and provide buybacks or increased dividends being prized.

BMO Capital

Ameet Thakkar

initiated

$185

2025-09-18

New

Reason

BMO Capital

Ameet Thakkar

Price Target

$185

2025-09-18

New

initiated

Reason

BMO Capital analyst Ameet Thakkar initiated coverage of Targa Resources with an Outperform rating and $185 price target. The firm expanded its Energy Transition and Infrastructure coverage to include a cross-section of high-quality, midstream companies that it believes are best-positioned to meet an increasing need for expansion natural gas, liquefied natural gas, and natural gas liquid infrastructure. The firm noted that the positive slant to its rating in part reflects its view that these companies' current valuations don't adequately reflect positive global power demand tailwinds that will support infrastructure investment in natural gas, but also a concerted decision to pick the highest quality names. In the case of Targa, the firm said it is being opportunistic in the face of falling oil rig counts.

Mizuho

Outperform -> NULL

downgrade

$212 -> $207

2025-08-29

Reason

Mizuho

Price Target

$212 -> $207

2025-08-29

downgrade

Outperform -> NULL

Reason

Mizuho lowered the firm's price target on Targa Resources to $207 from $212 and keeps an Outperform rating on the shares. The firm adjusted models in the master limited partnerships and midstream group post the Q2 reports.

Barclays

Overweight

downgrade

$195 -> $191

2025-08-14

Reason

Barclays

Price Target

$195 -> $191

2025-08-14

downgrade

Overweight

Reason

Barclays lowered the firm's price target on Targa Resources to $191 from $195 and keeps an Overweight rating on the shares. The firm updated models in the midstream and refining group post the Q2 reports.

Scotiabank

Outperform

maintain

$201 -> $204

2025-08-14

Reason

Scotiabank

Price Target

$201 -> $204

2025-08-14

maintain

Outperform

Reason

Scotiabank raised the firm's price target on Targa Resources to $204 from $201 and keeps an Outperform rating on the shares. In the U.S. Midstream sector, Q2 earnings season saw a "mixed bag of prints," the analyst tells investors. The firm believes that even if development activity slowed in basin-level production growth/outlook, gas-levered names stand to benefit due to the properties of a shale well and hydrocarbon streams. Scotiabank believes the more pressing issue is whether this benefit can fully offset "capex creep" and preserve cash flows.

RBC Capital

Outperform

maintain

$205 -> $208

2025-08-12

Reason

RBC Capital

Price Target

$205 -> $208

2025-08-12

maintain

Outperform

Reason

RBC Capital raised the firm's price target on Targa Resources to $208 from $205 and keeps an Outperform rating on the shares, updating the firm's model after the company's recent Q2 results. Targa saw strong Permian volumes that the firm expects to increase in the second half of FY25 and drive incremental benefits into 2026, the analyst tells investors in a research note. The customer driven growth also largely de-risks Targa's project plans and will drive meaningful capital returns to investors over time, RBC added.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Targa Resources Corp (TRGP.N) is 19.03, compared to its 5-year average forward P/E of 18.14. For a more detailed relative valuation and DCF analysis to assess Targa Resources Corp 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

18.14

Current PE

19.03

Overvalued PE

22.69

Undervalued PE

13.60

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

9.68

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

11.08

Undervalued EV/EBITDA

8.28

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

1.04

Current PS

0.00

Overvalued PS

1.57

Undervalued PS

0.52