Houston, Texas-based Targa Resources Corp. (TRGP), with a market capitalization of approximately $62.8 billion, is a leading North American midstream energy infrastructure company. It gathers and processes natural gas, transports natural gas liquids (NGLs) through pipelines, and operates storage, fractionation, and export facilities, connecting energy supplies to domestic and international markets.
TRGP is set to report its Q3 fiscal 2026 earnings on Thursday, November 5, 2026, before the market opens. Ahead of the release, analysts expect the company to report diluted EPS of $2.73, up 24.1% from $2.20 in the year-ago quarter. However, TRGP has exceeded Wall Street’s EPS estimates in only two of the past four quarters, missing expectations in the other two.
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For fiscal 2026, analysts expect TRGP to report EPS of $11.41, representing a 34.4% increase from $8.49 in fiscal 2025. EPS is projected to increase another 9.6% year over year to $12.51 in fiscal 2027.
www.barchart.comTRGP stock has skyrocketed 95.2% over the past 52 weeks, substantially outperforming the S&P 500 Index ($SPX), which returned 15.2%, and the State Street Energy Select Sector SPDR ETF (XLE), which climbed 57.3% over the same period.
www.barchart.comTarga Resources’ outperformance over the past year is a result of its significant adjusted EBITDA growth, infrastructure expansion, and long-term customer contracts. New processing plants and export facilities have boosted earnings, with management expecting full-year adjusted EBITDA to approach $6 billion. Additionally, a 20-year agreement with ExxonMobil and plans to build more natural gas processing plants have strengthened the company’s growth outlook and prompted analyst upgrades. Its long-term contracts also help insulate the business from short-term commodity price volatility.
Analysts remain bullish on TRGP, with the stock carrying a consensus "Strong Buy" rating. Of the 24 analysts covering the stock, 20 recommend a "Strong Buy," two rate it a "Moderate Buy," and two recommend a "Hold." TRGP’s average price target of $325.22 implies a 10% premium over the current share price.
On the date of publication, Kritika Sarmah 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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