Targa Resources Corp.
TRGP · Price history
Price at last available close
$302.61
+$25.18 (+9.08%) 1M
2026-10-27
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Company & revenue
About Targa Resources Corp.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
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.
How they make money
Targa Resources Corp. operates as a midstream energy company that gathers, processes, transports, and markets natural gas, natural gas liquids (NGLs), and crude oil. The company generates revenue primarily through fee-based services and commodity-based margins, leveraging its extensive network of pipelines, processing plants, and storage facilities to connect energy producers with end-market consumers.
Products & services
Gathering and processing of natural gas; fractionation and marketing of NGLs; transportation, storage, and terminaling services for natural gas, NGLs, and crude oil.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
The company discloses that it has a diverse customer base, but notes that the loss of any single significant customer or a group of customers could impact results; no specific customer concentration percentages were reported for the 2025 fiscal year.
Suppliers, materials & equipment
- Equipment and pipeline component manufacturers — Various third-party vendors providing steel, compressors, and specialized machinery for infrastructure maintenance and expansion; specific supplier names are unnamed.Source
Competitors
Strengths
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
24
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
48
Weak
Financial Strength
36
Business Quality / Moat
55
Management
60
Growth Quality
31
Risk / Durability
67
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
24
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
32/100
Building Historical Record
Model Score 32/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
- •Asset quality is a weaker factor
Company-specific research
Questions worth answering for TRGP
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving TRGP's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •Is TRGP's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is TRGP's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify TRGP's current valuation?
Essential Investment Snapshot
Wall Street Score
24
Opportunity Score
24
Market Cap
$64.89B
P/E Ratio
26.3
EPS
$10.53
52-Week High
$307.94
52-Week Low
$144.14
Beta
0.72
Intrinsic Value
$89.51
Analyst Target
$324.00
Shares Outstanding
215.0M
Total Revenue
$16.79B
Total Debt
$20.14B
Dividend
No current dividend
Liquidation Value / Share
$17.65
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for TRGP
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on TRGP.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Integrated asset footprint in key U.S. basins.
- +Significant fee-based revenue streams.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Oil & Gas Midstream industry.
- −Commodity price volatility.
- −Operational risks including mechanical failure and environmental hazards.
- −Regulatory and environmental compliance requirements.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
23
Jul 24, 2026
Change
+1.2
points
Current Score
24
Oct 1, 2026
Category Changes
TRGP increased 1.2 points because Capital improved by 2 points, Moat improved by 2.1 points, Valuation improved by 7.4 points.
Positive Contributors
- + Capital improved by 2 points
- + Moat improved by 2.1 points
- + Valuation improved by 7.4 points
Projected Score
Projected Score
26
Projected Change
+1.7 points
Preliminary comparable-period financial changes suggest improvement of approximately 1.7 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$302.61
Model Intrinsic Value
$89.51
Difference
+$213.11
+238.1% vs IV
Margin of Safety
-238.1%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.79B | $17.14B | $16.63B | $15.62B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $10.65B | $12.59B | $13.30B | $13.08B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $6.14B | $4.54B | $3.33B | $2.54B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $432.4M | $406.0M | $384.9M | $348.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $2.25B | $1.10B | $381.4M | $348.6M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $4.80B | $4.85B | $4.14B | $3.97B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $3.88B | $3.45B | $2.94B | $2.19B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $673.9M | $852.8M | $767.2M | $687.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $2.47B | $2.49B | $1.94B | $1.94B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $170.1M | $529.7M | $384.5M | $363.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $2.26B | $1.84B | $1.27B | $828.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $10.53 | $8.54 | $5.77 | $3.69 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 215M | 215M | 220M | 225M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 215M | 215M | 221M | 226M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$4.44B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$3.56
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+19.5%
Cash Change
+17.0%
Margin Change
+1.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 10.3%. EPS increased 23.6%. Cash increased 17.0%. Total debt increased 19.5%. Net income margin improved by 1.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
9
Smart Money
9
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
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Rumor Mill · TRGP
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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