Targa Resources Corp

Targa Resources Corp

TRGP

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Market Cap$55.14B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Targa Resources CorpTarga Resources Corp24.41.75%62%3.55.4

Earnings Call Q2 2026

August 6, 2026 - AI Summary

Record operating performance + big Permian growth - Q2’26 adjusted EBITDA was $1.603B (+38% YoY; +14% QoQ), driven by record volumes and stronger optimization/marketing. - Permian gas volumes: 7.2 Bcf/d in Q2 (+14% YoY; +~7% vs Q1). - Despite 200–400 MMcf/d of price-driven shut-ins during Q2, volumes still grew QoQ—management frames this as evidence of robust producer activity and ability for volumes to return.
Guidance raised to top end; implies strong 2H but with moderation - Full-year 2026 adjusted EBITDA guidance raised/positioned toward the top end: $5.7B–$5.9B. - Management suggests 2026 adjusted EBITDA growth vs 2025 could be ~$1B while also reducing share count and increasing dividend. - Key reason 2H may be conservative: less marketing/optimization tailwind than 1H, plus management explicitly does not forecast material marketing optimization margin in guidance.
Capex outlook + capital structure discipline - Net growth capital (2026): ~ $4.5B; net maintenance: ~ $250M. - Liquidity: $3.2B available at end of Q2. - Leverage: pro forma consolidated leverage ratio ~3.4x, within long-term target 3x–4x. - Financing update: extended and expanded A/R securitization maturity to July 30, 2027, expanding capacity by $200M.

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$296.67

Target Price by Analysts

10.4% upsideTarga Resources Target Price DetailsTarget Price
$18.87

Current Fair Value

93% downside

Overvalued by 93% based on the discounted cash flow analysis.

Share Statistics

Market cap$55.14 Billion
Enterprise Value$74.58 Billion
Dividend Yield$4.50 (1.75%)
Earnings per Share$8.54
Beta0.7
Outstanding Shares215,000,000

Return

Return on Equity62.02%ROE
Return on Assets7.95%
Return on Invested Capital7.79%

Valuation & Multiples

P/E Ratio24.39P/E Ratio
PEG109.31PEG
Price to Sales3.49Price to Sales
Price to Book Ratio15.8Price to Book Ratio
Enterprise Value to Revenue4.45
Enterprise Value to EBIT38.14
Enterprise Value to Net Income32
Total Debt to Enterprise0.26
Debt to Equity5.35Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
August 6, 2026
EPS Estimate
$2.83
Average shareholder expectation
Revenue Estimate
$4.90 B
Average shareholder expectation

Next Earnings Call

Expected Date
October 29, 2026
EPS Estimate
$2.77
Average shareholder expectation
Revenue Estimate
$4.91 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.7399 39.64%
Total Calls17,300 97.63%
Total Puts12,800 94.89%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %27.85% 64.70%
Total Invested$15.86B 68.19%
Investors Holding600 465.00%

ESG Score

No data

About Targa Resources Corp

CEO: Matthew Meloy