With a market cap of $46.6 billion, Targa Resources Corp. (TRGP) owns and operates a diversified portfolio of natural gas, natural gas liquids (NGL), and crude oil assets across North America. Through its Gathering and Processing and Logistics and Transportation segments, the company provides integrated services spanning production, storage, transportation, marketing, and resale of energy commodities.
Shares of the Houston, Texas-based company have lagged behind the broader market over the past 52 weeks. TRGP stock has risen 7.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 14.9%. However, shares of the company are up 18.6% on a YTD basis, outpacing SPX's 1.8% gain.
Looking closer, TRGP stock has also underperformed the State Street Energy Select Sector SPDR ETF's (XLE) 19.7% return over the past 52 weeks.
Shares of Targa Resources surged 5.3% on Nov. 5, 2025, after the company reported record Q3 2025 adjusted EBITDA of $1.27 billion, up 19% year-over-year, driven by record Permian, NGL transportation, and fractionation volumes. Investor sentiment was further boosted by Targa raising its full-year 2025 adjusted EBITDA outlook toward the top end of its $4.65 billion to $4.85 billion range and announcing multiple growth projects, including new 275 MMcf/d gas plants and major pipeline expansions in the Permian.
For the fiscal year that ended in December 2025, analysts expect TRGP's EPS to surge 45.8% year-over-year to $8.37. The company's earnings surprise history is mixed. It beat the consensus estimates in one of the last four quarters while missing on three other occasions.
Among the 22 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 18 “Strong Buy” ratings, one “Moderate Buy,” and three “Holds.”
On Jan. 28, Morgan Stanley raised its price target on Targa Resources to $266 and maintained an “Overweight” rating.
As of writing, the stock is trading above the mean price target of $210.91. The Street-high price target of $266 implies a potential upside of 21.5% from the current price 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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