TRGP Stock - Targa Resources Corp.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $16.63B | $15.62B | $21.68B | $17.44B | $8.27B |
| Gross Profit | $3.33B | $2.54B | $2.79B | $2.09B | $1.52B |
| Gross Margin | 20.0% | 16.2% | 12.9% | 12.0% | 18.4% |
| Operating Income | $2.94B | $2.19B | $2.48B | $1.82B | $1.27B |
| Net Income | $1.27B | $828.20M | $1.14B | $71.20M | $-1,553,900,000 |
| Net Margin | 7.6% | 5.3% | 5.3% | 0.4% | -18.8% |
| EPS | $5.77 | $3.69 | $3.95 | $-0.07 | $-7.26 |
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. The company operates in two segments, Gathering and Processing, and Logistics and Transportation. It engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. The company is also involved in the purchase and resale of NGL products; and wholesale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, it offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. The company operates approximately 28,400 miles of natural gas pipelines, including 42 owned and operated processing plants; and owns or operates a total of 34 storage wells with a gross storage capacity of approximately 76 million barrels. As of December 31, 2021, it leased and managed approximately 648 railcars; 119 transport tractors; and two company-owned pressurized NGL barges. The company was incorporated in 2005 and is headquartered in Houston, Texas.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| September 19th 2025 | BMO Capital Markets | Initiation | Outperform | $185 |
| July 7th 2025 | TD Cowen | Initiation | Hold | $192 |
| January 10th 2025 | Scotiabank | Resumed | Sector Outperform | $218 |
| October 17th 2024 | BofA Securities | Resumed | Buy | $182 |
| October 6th 2023 | Goldman | Resumed | Buy | $101 |
| March 2nd 2023 | Scotiabank | Initiation | Sector Outperform | $115 |
| December 9th 2022 | Citigroup | Initiation | Buy | $95 |
| September 8th 2022 | Goldman | Resumed | Buy | $93 |
| May 2nd 2022 | Truist | Resumed | Buy | $78 |
Earnings History & Surprises
TRGPEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 29, 2026 | — | — | — | — |
Q1 2026 | Feb 19, 2026 | $2.34 | — | — | — |
Q4 2025 | Nov 5, 2025 | $2.11 | $2.20 | +4.3% | ✓ BEAT |
Q3 2025 | Aug 7, 2025 | $1.86 | $2.87 | +54.3% | ✓ BEAT |
Q2 2025 | May 1, 2025 | $1.98 | $0.91 | -54.0% | ✗ MISS |
Q1 2025 | Feb 20, 2025 | $1.92 | $1.44 | -25.0% | ✗ MISS |
Q4 2024 | Nov 5, 2024 | $1.56 | $1.75 | +12.2% | ✓ BEAT |
Q3 2024 | Aug 1, 2024 | $1.27 | $1.33 | +4.7% | ✓ BEAT |
Q2 2024 | May 2, 2024 | $1.30 | $1.22 | -6.2% | ✗ MISS |
Q1 2024 | Feb 15, 2024 | $1.46 | $1.26 | -13.7% | ✗ MISS |
Q4 2023 | Nov 2, 2023 | $1.20 | $0.97 | -19.2% | ✗ MISS |
Q3 2023 | Aug 3, 2023 | $1.24 | $1.44 | +16.1% | ✓ BEAT |
Q2 2023 | May 4, 2023 | $1.40 | $0.03 | -97.9% | ✗ MISS |
Q1 2023 | Feb 22, 2023 | $1.29 | $1.38 | +7.0% | ✓ BEAT |
Q4 2022 | Nov 3, 2022 | $1.23 | $0.84 | -31.7% | ✗ MISS |
Q3 2022 | Aug 4, 2022 | $1.06 | $1.61 | +51.9% | ✓ BEAT |
Q2 2022 | May 5, 2022 | $0.89 | $0.06 | -93.3% | ✗ MISS |
Q1 2022 | Feb 24, 2022 | $0.65 | $0.51 | -21.5% | ✗ MISS |
Q4 2021 | Nov 4, 2021 | $0.53 | $0.66 | +24.5% | ✓ BEAT |
Q3 2021 | Aug 5, 2021 | $0.27 | $0.15 | -44.4% | ✗ MISS |
Latest News
Wells Fargo Maintains Overweight on Targa Resources, Raises Price Target to $207
📈 PositiveScotiabank Maintains Sector Outperform on Targa Resources, Raises Price Target to $199
📈 PositiveRBC Capital Maintains Outperform on Targa Resources, Raises Price Target to $218
📈 PositiveTarga Resources Signs Agreement To Acquire Stakeholder Midstream For $1.25B In Cash
📈 PositiveRBC Capital Maintains Outperform on Targa Resources, Raises Price Target to $213
📈 PositiveScotiabank Maintains Sector Outperform on Targa Resources, Lowers Price Target to $198
➖ NeutralGoldman Sachs Maintains Buy on Targa Resources, Lowers Price Target to $188
📈 PositiveMorgan Stanley Maintains Overweight on Targa Resources, Raises Price Target to $261
📈 PositiveTarga Resources shares are trading higher after BMO Capital maintained an Outperform rating on the stock and raised its price target from $185 to $196.
📈 PositiveBMO Capital Maintains Outperform on Targa Resources, Raises Price Target to $196
📈 PositiveTarga Resources shares are trading higher after the company reported Q3 earnings and said it intends to raise its dividend.
📈 PositiveTarga Management Intends To Recommend To Increase Dividend 25% To $1.25/Share
📈 PositiveTarga Resources Q3 Sales $4.151B Miss $4.563B Estimate
📉 NegativeJP Morgan Maintains Overweight on Targa Resources, Raises Price Target to $215
📈 PositiveTarga Resources Announces It Plans To Build Speedway NGL Pipeline, A ~500-Mile, 30-Inch Pipeline Transporting NGL's To Its Mont Belvieu, Texas Facility
📈 PositiveBMO Capital Initiates Coverage On Targa Resources with Outperform Rating, Announces Price Target of $185
📈 PositiveMizuho Maintains Outperform on Targa Resources, Lowers Price Target to $207
➖ NeutralFrequently Asked Questions about TRGP
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