Targa Resources Corp. (TRGP) Stock: Price, Forecast & Analyst Target
Targa Resources Corp. (TRGP) — MoonshotScore 63/100 (Fair band), calculated Oct 5, 2026. Price $287.40 (+2.01%), as of the Oct 5, 2026 trading session; market cap $61.7B. Expected results Nov 5, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 466.36× (market value Oct 5, 2026; cash Jun 30, 2026) · expected results Nov 5, 2026
Targa Resources Corp. · TRGP · NYSE · Energy · Oil & Gas Midstream
Research dated 2026-09-12: Targa Resources is an integrated midstream operator spanning natural-gas gathering and processing, natural-gas-liquids logistics, fractionation, storage and export services, alongside commodity marketing and crude-oil handling. The case rests on whether stronger retained economics and cash generation can support an infrastructure-heavy growth program without adding undue balance-sheet strain.
Price as of Oct 5, 2026
Key Statistics
MoonshotScore v2 · Targa Resources (TRGP)
FairWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
High quality and durable growth, but a fragile balance sheet and an expensive valuation; the market is already moving on it. Business Quality: Elite; Financial Safety: Strained; Valuation: Bubble; Growth Durability: Growing; Momentum: Surging.
Enterprise value relative to free cash flow is the main valuation drag relative to sector peers.
- quarterly revenue $4.44B (Q2 FY2026, quarter ended Jun 2026)
- EPS beat 5 of 8
- expected results Nov 5, 2026
Holding back: balance-sheet strain, a rich price
Helping: business quality, durable growth, positive momentum
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 62 | Fair | |
| 62 | Fair | |
| 62 | Fair | |
| 62 | Fair | |
| 62 | Fair | |
| 63 | Fair |
The score was 63 in the stored Oct 4, 2026 snapshot and remains 63 in the current publication computed Oct 5, 2026 (0).
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value | As of |
|---|---|---|
| Latest provided price | $287.40 | |
| Change on the day | +2.01% | |
| 52-week range | $144.14–$307.94 | |
| Market capitalisation | $61.7B | |
| Price / earnings (trailing) | 26.76 | |
| Shares traded on the day | 1.38M | |
| Beta (volatility vs the S&P 500) | 0.72 | |
| Dividends per share (last 12 months) | $4.50 | |
| Dividend yield (last 12 months) | 1.57% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · below the recorded estimate
- · Earnings call · management outlook
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Management outlook
Lastly, we expect our large LPG export expansion that will increase our capacity to around 19 million barrels per month will be much needed and remains on track for the third quarter of 2027.
Jennifer Kneale · Statement from
Given the strength of our performance so far this year, we now expect full year 2026 adjusted EBITDA to be towards the top end of our guidance range of $5.7 billion to $5.9 billion.
William Byers · Statement from
Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.
Read management statementsOther perspectives
Council score for Targa Resources (TRGP): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
5-Factor Breakdown
Legends Council
5 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Oct 3, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.
Readings on this page are from Oct 6, 2026, except a card that shows its own read date.
Watch the TRGP film — every key number, told as a short cinematic story
~2 min · open the film
What is Targa Resources (TRGP), and what does it report?
Short answer · as of
Targa gathers, compresses, treats and processes natural gas, then transports, stores, fractionates and distributes natural-gas liquids.
Research dated 2026-09-12.
Targa gathers, compresses, treats and processes natural gas, then transports, stores, fractionates and distributes natural-gas liquids. Its customers and counterparties include exporters, refineries, petrochemical companies, retailers, independent businesses and end users.
Reported revenue mixes infrastructure services with commodity purchasing, marketing and resale. The segment presentation groups this chain into Gathering and Processing and Logistics and Transportation, so consolidated sales are not a clean proxy for throughput or fee-based economics.
What do the latest results show for Targa Resources (TRGP)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $4.44B.
Research dated 2026-09-12.
Revenue increased in the latest reported period, while gross profit, operating income, net income and diluted earnings advanced much more sharply. Earnings exceeded expectations even as revenue fell short, reinforcing that changes in commodity resale can move the top line differently from the economics Targa retains.
Management now expects adjusted operating performance near the upper end of its guidance range and says the planned liquefied-petroleum-gas export expansion remains on track. Those statements strengthen the outlook but do not establish that the expansion caused the latest improvement.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $4.44B Jun 30, 2026
- Latest quarter · SG&A
- $108.10M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $1.23B Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $4.44B | Not available | $108.10M | $1.23B |
| Mar 31, 2026 | $4.09B | Not available | $107.80M | $846.90M |
| Dec 31, 2025 | $4.06B | Not available | $111.70M | $917.40M |
| Sep 30, 2025 | $4.20B | Not available | $104.80M | $884.70M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $4.44B Aug 6, 2026
- Latest report · revenue estimate
- $4.90B Aug 6, 2026
- Latest report · revenue vs estimate
- Below estimate Aug 6, 2026
- Latest report · EPS vs estimate
- Above estimate Aug 6, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Aug 6, 2026 | $4.44B | $4.90B | $3.5400 | $2.8300 |
| May 7, 2026 | $4.09B | $4.68B | $2.2100 | $2.4800 |
| Feb 19, 2026 | $4.06B | $4.73B | $2.5100 | $2.3000 |
| Nov 5, 2025 | $4.20B | $4.56B | $2.2000 | $2.1100 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $4.44B | $765M | $3.56 (diluted) |
| Q1 FY2026 | $4.09B | $480M | $2.21 (diluted) |
| Q4 FY2025 | $4.06B | $545M | $2.53 (diluted) |
| Q3 FY2025 | $4.20B | $476M | $2.20 (diluted) |
What are the financial strengths and risks for Targa Resources (TRGP)?
Short answer
Cash and short-term investments were $132.30M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $1.44B for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-12.
Profitability has strengthened: annual net income has grown much faster than revenue, and the latest period produced the strongest operating result in the available quarterly series. Operating cash flow also covered capital spending in the latest period, although that coverage has varied materially across recent periods.
Debt is far larger than cash and short-term investments, liquidity ratios sit below parity, and capital spending remains heavy. Long-term investments increase reported financial resources but are not classified as ordinary cash, leaving funding access and project returns important if processing, fractionation or export activity disappoints.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $1.44B Jun 30, 2026
- Previous quarter · operating cash flow
- $739.50M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $1.44B | −$1.01B |
| Mar 31, 2026 | $739.50M | −$899.50M |
| Dec 31, 2025 | $1.51B | −$963.20M |
| Sep 30, 2025 | $599.20M | −$671.80M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Targa Resources (TRGP)?
Short answer · as of
The next earnings report is expected on Nov 5, 2026.
Research dated 2026-09-12.
Watch whether gross profit and operating income remain elevated even if revenue continues to diverge from expectations. That would support the view that retained economics matter more than commodity-driven sales; renewed earnings weakness alongside a revenue increase would challenge it.
Cash conversion is equally important: operating cash flow needs to keep pace with the infrastructure program while debt remains high. Management’s guidance position and the schedule for added liquefied-petroleum-gas export capacity provide concrete milestones, while longer-range consensus estimates assume continuing growth in revenue and earnings.
What management is planning
Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.
Lastly, we expect our large LPG export expansion that will increase our capacity to around 19 million barrels per month will be much needed and remains on track for the third quarter of 2027.
Jennifer Kneale ·
Given the strength of our performance so far this year, we now expect full year 2026 adjusted EBITDA to be towards the top end of our guidance range of $5.7 billion to $5.9 billion.
William Byers ·
How does Targa Resources compare with its peers?
Short answer
Targa Resources's score ranks 7th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-12.
Targa should not be viewed as merely a pipeline toll collector. It connects wellhead gathering and gas processing with natural-gas-liquids storage, fractionation, transportation, marketing and export access, while also purchasing and reselling commodities.
That breadth ties performance to utilization and commercial activity across a connected chain rather than to an isolated transport asset. It also makes headline revenue noisier than at a business whose sales consist mainly of infrastructure fees.
| Company | Price | Market value | Score |
|---|---|---|---|
| $31.47 Oct 5, 2026 | $58.0B | 85 5-pillar Oct 5, 2026 | |
| $63.26 Oct 5, 2026 | $30.6B | 84 5-pillar Oct 5, 2026 | |
| $58.31 Oct 5, 2026 | $58.0B | 79 5-pillar Oct 5, 2026 | |
| $274.93 Oct 5, 2026 | $56.2B | 76 5-pillar Oct 5, 2026 | |
| $57.37 Oct 5, 2026 | $58.4B | 75 5-pillar Oct 5, 2026 | |
| $184.08 Oct 5, 2026 | $51.8B | 65 5-pillar Oct 5, 2026 | |
| Targa Resources (TRGP) — this page | $287.40 | $61.7B | 63 |
| $36.80 Oct 5, 2026 | $78.0B | 60 5-pillar Oct 5, 2026 | |
| $88.58 Oct 5, 2026 | $55.8B | 59 5-pillar Oct 5, 2026 | |
| $20.72 Oct 5, 2026 | $71.3B | 57 5-pillar Oct 5, 2026 | |
| $31.41 Oct 5, 2026 | $69.9B | 56 5-pillar Oct 5, 2026 | |
| $46.11 Oct 5, 2026 | $26.9B | 56 5-pillar Oct 5, 2026 | |
| $70.81 Oct 5, 2026 | $86.6B | 55 5-pillar Oct 5, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $268.00 – $359.00
- Consensus target
- $319.46
- Median target
- $324.00
Consensus record · Captured .
Measured against a quoted price of $287.40 (as of Oct 5, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Sep 3, 2026
- Transactions
- 21
- Identified insiders
- 11
- Purchases
- 0
- Sales
- 10
- Other transactions
- 11
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 96.0% Period end Jun 30, 2026
- Previous quarter · ownership
- 92.6% Prior to period end Jun 30, 2026
- Reporting holders
- 1,132 Period end Jun 30, 2026
- Previous quarter · holders
- 1,070 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Blackrock, INC. | 20,832,687 |
| State Street Corp | 14,226,166 |
| Wellington Management Group Llp | 14,176,394 |
| Vanguard Capital Management LLC | 14,015,559 |
| Vanguard Portfolio Management LLC | 11,697,574 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Targa Resources (TRGP)?
Targa Resources Energy Stock: Key Questions Answered
Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
Why can Targa’s sales miss expectations while earnings beat?
Targa’s revenue includes commodity purchasing, marketing and resale, so sales can change differently from gross profit and earnings. Recent results illustrate that separation, with an earnings beat occurring alongside a revenue shortfall.
What does Targa’s liquefied-petroleum-gas export expansion add?
The project increases capacity at the export end of Targa’s natural-gas-liquids chain, providing a larger outlet for products moving through its logistics system. Management says the expansion remains on schedule.
Can Targa’s operating cash flow fund its infrastructure build?
Coverage has varied: operating cash flow exceeded capital spending in the latest period, while capital spending was greater in several earlier periods. Sustained coverage matters because cash holdings are modest relative to debt.
How do Gathering and Processing and Logistics and Transportation connect at Targa?
Gathering and Processing brings natural gas into Targa’s system and separates usable products. Logistics and Transportation then stores, fractionates, moves and markets natural-gas liquids, creating a connected path from production areas toward domestic customers and export markets.
What is the TRGP stock price today?
The last price recorded on this page for Targa Resources Corp. (TRGP) is $287.40, as of the Oct 5, 2026 trading session (source: Financial Modeling Prep (FMP) quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the TRGP price target?
The analyst consensus price target for Targa Resources Corp. (TRGP) is $319.46 (range $268.00 to $359.00, median $324.00), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
When are TRGP's next earnings?
The next earnings date listed on this page for Targa Resources Corp. (TRGP) is Nov 5, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (81 figures)
The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
OFFICIAL — 2 facts from SEC filings and earnings calls
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
prod.outlook | Management outlook — call excerpts | Jennifer Kneale (Aug 6, 2026): Lastly, we expect our large LPG export expansion that will increase our capacity to around 19 million barrels per month will be much needed and remains on track for the third quarter of 2027. William Byers (Aug 6, 2026): Given the strength of our performance so far this year, we now expect full year 2026 adjusted EBITDA to be towards the top end of our guidance range of $5.7 billion to $5.9 billion. | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | |
id.hq | SEC filing business address | 811 Louisiana Street, Suite 2100, Houston, TX, 77002 | OFFICIAL | SEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "811 Louisiana Street, Houston, TX, 77002, US". |
FMP — 69 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
px.last | Latest provided price | $287.40 | FMP | Financial Modeling Prep (FMP) quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. | |
px.change | Change on the day | +2.01% | FMP | Financial Modeling Prep (FMP) quote | |
px.mcap | Market capitalization | $61.7B | FMP | Financial Modeling Prep (FMP) quote — Provider market cap uses the share class it prices; a company with more than one class may show a larger total elsewhere. Market cap record date: 2026-10-05. Source capture time was not supplied. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | +$5.66 | FMP | Financial Modeling Prep (FMP) quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $4.44B | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.range52 | 52-week range | $144.14–$307.94 | FMP | Financial Modeling Prep (FMP) quote | |
px.pe | Price / earnings (trailing) | 26.76 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 1.38M | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 0.72 | FMP | Financial Modeling Prep (FMP) company profile | |
id.ceo | Chief executive | Matthew J. Meloy | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 3,570 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $17.44B, net result $71.20M; FY2022 revenue $21.68B, net result $1.14B; FY2023 revenue $15.62B, net result $828.20M; FY2024 revenue $16.63B, net result $1.27B; FY2025 revenue $17.14B, net result $1.84B | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Sales of Commodities $14.40B · Fees from Midstream Services $2.62B | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 36.6% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $4.44B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $108.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $1.23B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $4.09B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $107.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $846.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $4.06B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $111.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $917.40M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $4.20B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $104.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $884.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-08-06.revenue_actual | Revenue · reported — report date 2026-08-06 | $4.44B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.revenue_estimated | Revenue · estimate — report date 2026-08-06 | $4.90B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.eps_actual | EPS · reported — report date 2026-08-06 | $3.5400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-08-06.eps_estimated | EPS · estimate — report date 2026-08-06 | $2.8300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_actual | Revenue · reported — report date 2026-05-07 | $4.09B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.revenue_estimated | Revenue · estimate — report date 2026-05-07 | $4.68B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_actual | EPS · reported — report date 2026-05-07 | $2.2100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-05-07.eps_estimated | EPS · estimate — report date 2026-05-07 | $2.4800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-19.revenue_actual | Revenue · reported — report date 2026-02-19 | $4.06B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-19.revenue_estimated | Revenue · estimate — report date 2026-02-19 | $4.73B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-19.eps_actual | EPS · reported — report date 2026-02-19 | $2.5100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-19.eps_estimated | EPS · estimate — report date 2026-02-19 | $2.3000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.revenue_actual | Revenue · reported — report date 2025-11-05 | $4.20B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.revenue_estimated | Revenue · estimate — report date 2025-11-05 | $4.56B | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.eps_actual | EPS · reported — report date 2025-11-05 | $2.2000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-11-05.eps_estimated | EPS · estimate — report date 2025-11-05 | $2.1100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $132.30M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $1.44B | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $317.50M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $20.14B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 16.90× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $1.44B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $739.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$1.01B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$899.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $1.51B | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$963.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $599.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$671.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $268.00 – $359.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $319.46 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $324.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 21 transactions · 0 purchases, 10 sales, 11 other transactions · 11 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Sep 3, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 96.0% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 92.6% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 1,132 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 1,070 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Blackrock, INC. — shares in provider snapshot | 20,832,687 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | State Street Corp — shares in provider snapshot | 14,226,166 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Wellington Management Group Llp — shares in provider snapshot | 14,176,394 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Vanguard Capital Management LLC — shares in provider snapshot | 14,015,559 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Vanguard Portfolio Management LLC — shares in provider snapshot | 11,697,574 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 2 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Nov 5, 2026 | UNRECORDED | Stored earnings-calendar observation — Captured 2026-09-30 | |
earn.history | Reported versus estimated, recent quarters | EPS beat 5 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-30 · Expired observation |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 466.36× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $132.30M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-05. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $4.50 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-06, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 1.57% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-08-06.revenue_actual.comparison | Latest report · revenue vs estimate | Below estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($4.44B) with the recorded estimate ($4.90B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-08-06.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($3.5400) with the recorded estimate ($2.8300) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 3 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 63 of 100 · Fair · pillars 83 / 22 / 15 / 71 / 85 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.valuation_driver | Recorded valuation score driver | Enterprise value relative to free cash flow is the main valuation drag relative to sector peers. | OURS | Stock Expert AI MoonshotScore v2 engine · stored factor contributions | |
ours.moonshot_change | MoonshotScore movement | 63 (stored snapshot Oct 4, 2026) → 63 (current publication computed Oct 5, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-08-06. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-08-06.revenue_actual,earn.history.depth.2026-08-06.revenue_estimated,earn.history.depth.2026-08-06.revenue_actual.comparison,earn.history.depth.2026-08-06.eps_actual.comparison,earn.history.depth.2026-08-06.eps_actual,earn.history.depth.2026-08-06.eps_estimated,earn.history.depth.2026-05-07.revenue_actual,earn.history.depth.2026-05-07.revenue_estimated,earn.history.depth.2026-05-07.eps_actual,earn.history.depth.2026-05-07.eps_estimated,earn.history.depth.2026-02-19.revenue_actual,earn.history.depth.2026-02-19.revenue_estimated,earn.history.depth.2026-02-19.eps_actual,earn.history.depth.2026-02-19.eps_estimated,earn.history.depth.2025-11-05.revenue_actual,earn.history.depth.2025-11-05.revenue_estimated,earn.history.depth.2025-11-05.eps_actual,earn.history.depth.2025-11-05.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-12
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Legal name | Targa Resources Corp. | 2026-02-19 | OFFICIAL | SEC EDGAR — 10-K filed 2026-02-19 |
| Business description | Targa Resources Corp., alongside its subsidiary Targa Resources Partners LP, is a significant entity in the North American midstream energy sector, focusing on the ownership, operation, acquisition, and development of crucial energy infrastructure assets. Its business is structured into two main divisions: "Gathering and Processing" and "Logistics and Transportation." Within these segments, the company undertakes a broad range of activities, including the collection, compression, treatment, processing, transport, and sale of natural gas. It also manages the storage, fractionation, treatment, transportation, and distribution of natural gas liquids (NGLs) and their associated products, providing services even to liquefied petroleum gas (LPG) exporters. Furthermore, Targa handles the gathering, storage, terminaling, purchasing, and selling of crude oil. Beyond these core operations, the company is involved in the procurement and resale of NGL products, wholesale propane distribution, and providing related logistics support to a diverse clientele, including multi-state retailers, independent businesses, and end-users. It also offers NGL balancing services and transportation solutions for refineries and petrochemical companies situated in the Gulf Coast region, while actively purchasing, marketing, and reselling natural gas. The company's extensive asset base features approximately 28,400 miles of natural gas pipelines, including 42 owned and managed processing plants, and it operates 34 storage wells with a substantial gross capacity of about 76 million barrels. As of December 31, 2021, its transportation fleet comprised approximately 648 leased and managed railcars, 119 transport tractors, and two company-owned pressurized NGL barges. Targa Resources Corp. was established in 2005 and is headquartered in Houston, Texas. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Sector / industry (provider taxonomy) | Energy / Oil & Gas Midstream The company's SEC filings classify it under SIC 4922 — Natural Gas Transmission. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Gathering And Processing: $7.42B; Logistics And Transportation: $14.56B | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Cash, investments and debt | Total debt: $20.14B; Liquidity basis: cash and short-term investments; Total liabilities: $24.72B; Cash and short-term investments: $132.30M; Cash and investments: $449.80M; Long-term investments: $317.50M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Annual revenue and net result (USD millions) | Captured record · 5 entries
| 2025-12-31 | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-08-06 | FMP | Financial Modeling Prep (FMP) earnings |
| Management outlook — dated call excerpts | Captured record · 2 entries
Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording. | 2026-08-06 | OFFICIAL | Company earnings call, transcript via Financial Modeling Prep (FMP) |
| Cash and investment components | Total basis: cash short and long-term investments; Total: $449.80M; Cash and short-term investments: $132.30M; Long-term investments: $317.50M; Long-term investments classification: unclassified Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures. | 2026-06-30 | COMPUTED | Computed from the balance sheet |
| Cash and short-term investments over time (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's quarterly balance sheets |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$20.00B; Total debt: $20.14B; Cash and investments: $132.30M Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Trailing twelve-month ratio set | Quick ratio: 0.68; Current ratio: 0.77; Debt to equity: 5.51; Net margin: 13.5%; Gross margin: 36.6%; Operating margin: 23.1%; Return on assets: 7.9%; Return on equity: 72.1% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Distress and quality screens | Altman Z-score: 2.58; Piotroski F-score: 7 Altman Z below 1.8 is the conventional distress zone. For a company holding large cash against negative retained earnings the score mostly reflects the retained-earnings term. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) financial scores |
| Next earnings report | Date: 2026-11-04; EPS estimate: $2.66 per share; Revenue estimate: $4.87B The date is our provider's estimate until the company confirms it. | 2026-09-12 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
| 2026-09-12 | FMP | Financial Modeling Prep (FMP) analyst estimates |
Data provided for informational purposes only.
ETFs that hold TRGP
Funds in our ETF coverage that list TRGP among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.