Houston, Texas-based Targa Resources Corp. (TRGP) owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. With a market cap of approximately $38.8 billion, Targa Resources operates through Gathering and Processing and Logistics and Transportation segments.
Companies worth $10 billion or more are generally described as “large-cap stocks.” Targa fits this bill perfectly. Given the company’s strong presence and influence in the energy sector, its valuation above this mark is unsurprising.
The midstream energy giant touched its all-time high of $218.51 on Jan. 22 and is currently trading 18% below that peak. Meanwhile, TRGP stock has surged 11.6% over the past three months, compared to the Dow Jones Industrial Average’s ($DOWI) 4.9% uptick during the same time frame.
Targa Resources has also underperformed the Dow over the past year. TRGP stock prices have inched by a modest 34 bps in 2025 and declined 7.8% over the past 52 weeks, compared to the Dow’s 12.2% gains on a YTD basis and 6.9% returns over the past year.
TRGP stock has surged above its 50-day moving average in early November and above its 200-day moving average since late November, underscoring its recent upturn.
Targa Resources’ stock prices gained 5.3% in the trading session following the release of its Q3 results on Nov. 5. While its results missed the Street’s expectations, Targa’s overall performance remained robust. Driven by solid growth in commodity sales and midstream service fees, its net revenues for the quarter grew 7.8% year-over-year to $4.2 billion. Meanwhile, its adjusted EBITDA soared 19.2% year-over-year to $1.3 billion. Further, its net income surged 23.5% year-over-year to $478.4 million, boosting investor confidence.
Further, Targa has outperformed its peer Cheniere Energy, Inc.’s (LNG) 6.6% decline on a YTD basis and 9.5% drop over the past 52 weeks.
Among the 22 analysts covering the TRGP stock, the consensus rating is a “Strong Buy.” Its mean price target of $206.18 suggests a 15.1% upside potential from current price levels.
On the date of publication, Aditya Sarawgi 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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