With a market cap of $60.6 billion, Targa Resources Corp. (TRGP) owns and operates a diversified portfolio of natural gas, natural gas liquids (NGL), and crude oil assets across North America. Through its Gathering and Processing and Logistics and Transportation segments, the company provides integrated services spanning production, storage, transportation, marketing, and resale of energy commodities.
The Houston, Texas-based company is set to deliver its fiscal Q2 2026 results soon. Ahead of this event, analysts forecast TRGP to report an EPS of $2.64, a decline of 8% from $2.87 in the previous year's quarter. It has exceeded Wall Street's bottom-line estimates in two of the past four quarters while missing on two other occasions.
For fiscal 2026, analysts predict the pipeline operator to post EPS of $10.75, a 26.6% increase from $8.49 in fiscal 2025.
TRGP stock has soared 70.7% over the past 52 weeks, outperforming the S&P 500 Index's ($SPX) 18.5% gain and the State Street Energy Select Sector SPDR ETF's (XLE) 36.6% return over the same period.
Shares of Targa Resources rose 1.2% on May 7 after the company reported record Q1 2026 adjusted EBITDA of $1.40 billion, up 19% year-over-year and net income attributable to shareholders increased to $480 million. Investor sentiment was further supported by management raising its full-year 2026 adjusted EBITDA outlook to $5.7 billion - $5.9 billion (approximately 17% year-over-year growth at the midpoint), reflecting stronger marketing, LPG export operations, and continued volume growth across its integrated asset base.
The company also highlighted record Permian inlet and fractionation volumes, completed key infrastructure projects, announced two new Permian Delaware processing plants (Roadrunner III and Copperhead II), and increased its quarterly dividend by 25% to $1.25 per share.
Analysts' consensus rating on TRGP stock is bullish, with an overall "Strong Buy" rating. Out of 25 analysts covering the stock, opinions include 19 "Strong Buys," two "Moderate Buys," and four "Holds." The average analyst price target is $291.65, suggesting a potential upside of 3.9% from the current levels..
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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