Markets· August 17, 2026 at 12:42 p.m.
Targa Resources Stock Outperforms Market and Industry Benchmark, Analysts Remain Bullish
Key takeaways
- Targa Resources Corp.'s (TRGP) stock has outperformed the S&P 500 Index and its industry benchmark over the past year
- TRGP reported impressive Q2 2026 earnings with revenue of $4.4 billion, surpassing analyst forecasts
- Analysts expect TRGP's EPS to rise 29.7% to $11.01 on a diluted basis for the current year
Houston-based Targa Resources Corp. (TRGP) has seen its stock outperform the broader market and its industry benchmark over the past year, growing 66.6% compared to the S&P 500 Index's 20.4% surge. In 2026, TRGP stock has risen nearly 49.5%, outperforming the SPX's 13.7% gain and the State Street Energy Select Sector SPDR ETF (XLE) which rose 44.7%.
TRGP reported impressive Q2 2026 earnings on Aug. 6, with revenue of $4.4 billion, surpassing analyst forecasts. The company's adjusted EBITDA increased 38% from the prior year's quarter to a record $1.6 billion, and it also reported record Permian inlet, NGL transportation, fractionation, and LPG export volumes during the quarter. TRGP expects full-year 2026 adjusted EBITDA to be in the range of $5.7 billion to $5.9 billion.
For the current year, analysts expect TRGP's EPS to rise 29.7% to $11.01 on a diluted basis. Among the 25 analysts covering TRGP stock, the consensus is a 'Strong Buy'. RBC Capital analyst Elvira Scotto maintained a 'Buy' rating for TRGP stock and raised its price target from $310 to $312 on Aug. 11.
TRGP's mean price target of $300.74 represents a 9% premium over the current market price, with its Street-high target of $335 implying a robust 21.5% upside from current levels.
