Targa Resources Corp TRGP Stock Analysis
- NYSE
- Stock
- Market closed · opens Monday 9:30 AM ET
$264.59 down $7.23, 2.66% at close Nov 6
Last close · Previous close $271.82
- Market cap
- $56.74BAt the Nov 6 close
- P/E ratio
- 23.42On last 12 months’ EPS
- Diluted EPS
- $11.30Last 12 months
- Dividend yield
- 1.80%Last 12 months
Price chart
$264.59down $7.23, 2.66%Fri, Nov 6 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$271.82Nov 5
- Volume2.61MNov 6 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume1.28MLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $166.18 to $316.60; now $264.59
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the Nov 6 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
TRGP beat the S&P 500 in 6 of 7 periods.
| Period | TRGP and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | TRGP: down 7.0% S&P 500: down 5.6% | TRGP trailed the S&P 500 by 1.4 percentage points Trailed |
| 3M | TRGP: down 1.0% S&P 500: down 4.1% | TRGP beat the S&P 500 by 3.1 percentage points Beat |
| YTD | TRGP: up 46.1% S&P 500: up 8.7% | TRGP beat the S&P 500 by 37.4 percentage points Beat |
| 1Y | TRGP: up 58.6% S&P 500: up 10.9% | TRGP beat the S&P 500 by 47.7 percentage points Beat |
| Long term | ||
| 3Y | TRGP: up 221.8% S&P 500: up 75.0% +47.6% vs +20.5% a year | TRGP beat the S&P 500 by 146.8 percentage points Beat |
| 5Y | TRGP: up 419.6% S&P 500: up 67.8% +39.0% vs +10.9% a year | TRGP beat the S&P 500 by 351.8 percentage points Beat |
| 10Y | TRGP: up 768.3% S&P 500: up 313.1% +24.1% vs +15.2% a year | TRGP beat the S&P 500 by 455.2 percentage points Beat |
$10,000 invested in TRGP 10 years ago (Nov 4, 2016) would be worth about $86,832 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,313.
TRGP beat the S&P 500 in 6 of 7 periods.
| Period | TRGP and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | TRGP: down 7.4% S&P 500: down 5.6% | TRGP trailed the S&P 500 by 1.8 percentage points Trailed |
| 3M | TRGP: down 1.4% S&P 500: down 4.3% | TRGP beat the S&P 500 by 2.9 percentage points Beat |
| YTD | TRGP: up 43.4% S&P 500: up 7.8% | TRGP beat the S&P 500 by 35.6 percentage points Beat |
| 1Y | TRGP: up 55.8% S&P 500: up 9.7% | TRGP beat the S&P 500 by 46.1 percentage points Beat |
| Long term | ||
| 3Y | TRGP: up 202.3% S&P 500: up 68.8% +44.6% vs +19.1% a year | TRGP beat the S&P 500 by 133.5 percentage points Beat |
| 5Y | TRGP: up 366.8% S&P 500: up 56.9% +36.1% vs +9.4% a year | TRGP beat the S&P 500 by 309.9 percentage points Beat |
| 10Y | TRGP: up 483.4% S&P 500: up 252.6% +19.3% vs +13.4% a year | TRGP beat the S&P 500 by 230.8 percentage points Beat |
$10,000 invested in TRGP 10 years ago (Nov 4, 2016) would be worth about $58,344 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,257.
All-time high
$314.99
Closing high on . Now 16.0% below that record.
Split-adjusted daily closes since Dec 7, 2010.
Stock splits
TRGP hasn’t split since its price history begins in 2010.
Valuation
The Nov 6 close compared with the last 12 months of reported results (the four quarters to Sep 30, 2026). Tap a metric to see how it’s calculated.
Price-to-earnings (P/E)
23.4×The Nov 6 close ÷ diluted EPS over the last 12 months ($11.30)
The range covers daily P/E ratios from Oct 28, 2021 to Nov 6, 2026, each based on the previous 12 months of earnings.
TRGP trades at 23.4× its earnings over the last 12 months, below its 5-year median of 25.9×. In plain terms, buyers are paying about $23 for each $1 of profit from the past year. How to read P/E
Other valuation measures
- 3.1×Last 12 months’ revenue
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratio - 14.9×Book value as of Sep 30, 2026
Price relative to accounting equity (book value) per share on the Sep 30, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratio - 13.3×Last 12 months’ EBITDA
Enterprise value divided by EBITDA over the last 12 months. It compares companies with different amounts of debt.
EV/EBITDA = Enterprise value ÷ EBITDA (last 12 months)EV/EBITDA explained - 0.45Last 12 months’ EPS growth
The P/E divided by the growth in diluted EPS over the last 12 months (+52.3% on the 12 months before). It looks backward: near 1 means the P/E roughly matches last year’s growth. Sites that use analysts’ growth forecasts show a different PEG.
PEG = P/E ÷ EPS growth (%) = 23.4 ÷ 52.3 - 1.65%Last 12 months’ free cash flow
Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flow - $76.44BAt the Nov 6 close
What it would cost to buy the whole business: the market cap at the Nov 6 close, plus debt, minus cash and short-term investments from the Sep 30, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explained
Build your own TRGP DCF in Excel. Value Targa Resources with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q3 FY26, the quarter ended Sep 30, 2026. “Last 12 months” means the four quarters from Oct 1, 2025 to Sep 30, 2026, and balance-sheet figures are as of Sep 30, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $18.19Bup 4.7%
- Net income
- $2.45Bup 41.6%
- Diluted EPS
- $11.30up 52.3%
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q4 FY24 (Dec 31, 2024) | $4.41B | $351.00M | $1.44 |
| Q1 FY25 (Mar 31, 2025) | $4.56B | $270.50M | $0.91 |
| Q2 FY25 (Jun 30, 2025) | $4.26B | $629.10M | $2.87 |
| Q3 FY25 (Sep 30, 2025) | $4.15B | $478.40M | $2.20 |
| Q4 FY25 (Dec 31, 2025) | $4.06B | $545.00M | $2.51 |
| Q1 FY26 (Mar 31, 2026) | $4.09B | $479.60M | $2.21 |
| Q2 FY26 (Jun 30, 2026) | $4.44B | $764.60M | $3.54 |
| Q3 FY26 (Sep 30, 2026) | $5.60B | $658.20M | $3.04 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $16.95B | $71.20M | −$0.07 |
| FY22 (Dec 31, 2022) | $20.93B | $1.20B | $3.88 |
| FY23 (Dec 31, 2023) | $16.06B | $1.35B | $3.66 |
| FY24 (Dec 31, 2024) | $16.38B | $1.31B | $5.74 |
| FY25 (Dec 31, 2025) | $17.03B | $1.92B | $8.49 |
Margins
- Gross 34.1%
- Operating 22.5%
- Net 13.5%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- $933.80MLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow$5.05BLast 12 months
- Capital spending$4.12BLast 12 months
- 5.1%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $287.70MLast 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$974.00MLast 12 months
- Total returned$1.26BLast 12 months
135% of free cash flow
Balance sheet
- $464.30MAs of Sep 30, 2026
Cash plus short- and long-term marketable securities on the Sep 30, 2026 balance sheet.
- Total debt$19.84BAs of Sep 30, 2026
- Net debt$19.38BAs of Sep 30, 2026
- 0.74As of Sep 30, 2026
Current assets divided by current liabilities on the Sep 30, 2026 balance sheet. Above 1 means short-term assets cover the bills due within a year.
Current ratio = Current assets ÷ Current liabilitiesCurrent ratio - 5.20As of Sep 30, 2026
Total debt divided by shareholders’ equity on the Sep 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- 7 of 9Last 12 months
vs the 12 beforeA 0–9 checklist from accounting professor Joseph Piotroski. Each test compares the last 12 months with the 12 months before and scores a point if it passes. 8–9 is strong; 0–2 is weak.
- ✓Net income was positive: passed
- ✓Operating cash flow was positive: passed
- ✓Return on assets improved: passed
- ✓Operating cash flow exceeded net income: passed
- ✓Long-term debt fell relative to assets: passed
- ✗Current ratio improved: not passed
- ✓Share count didn’t rise: passed
- ✓Gross margin improved: passed
- ✗Asset turnover (revenue ÷ assets) improved: not passed
- 71.6%Last 12 months
Over the last 12 months, Targa Resources’s net income was 71.6% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return. ROE can run this high when equity is small, for example after years of large share buybacks.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - 8.9%Last 12 months
Over the last 12 months, Targa Resources’s net income was 8.9% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $3.64 |
| 2017 | $3.64 |
| 2018 | $3.64 |
| 2019 | $3.64 |
| 2020 | $1.21 |
| 2021 | $0.40 |
| 2022 | $1.40 |
| 2023 | $1.85 |
| 2024 | $2.75 |
| 2025 | $3.75 |
| 2026 (to date) | $4.75 |
Dividend details
- $4.75Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- 1.80%; 5-yr low 0.69%, 5-yr high 2.92%Last 12 months
Dividends paid over the last 12 months as a share of the Nov 6 close. The bar shows where that yield sits in its range over the past five years; the median was 1.78%.
- $1.25Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
- FrequencyQuarterly4 payments in the last 12 months
- up 25.4% a yearFull years 2020–2025
The compound annual growth rate of the full-year dividend per share from 2020 to 2025.
- 4 yearsThrough 2025
How many calendar years in a row the full-year amount has risen, through 2025.
- 42.0%Last 12 months
The share of earnings paid out as dividends over the last 12 months. Lower ratios leave more room to reinvest or raise the dividend.
Payout = Dividends per share ÷ Diluted EPS (both last 12 months)Payout ratio calculator
About Targa Resources Corp
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. Targa is a FORTUNE 500 company and is included in the S&P 500.
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Headquarters
- Texas, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- NYSE
- Asset type
- Common stock
- Price history since
TRGP news
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TRGP stock FAQ
What is TRGP stock’s price today?
Targa Resources (TRGP) traded at $264.59 at the close on , down $7.23 (2.66%) from the previous close of $271.82. Over the past 52 weeks it has traded between $166.18 and $316.60.
If you invested $1,000 in TRGP 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in TRGP on would be worth about $8,683 at the close on , a total return of +768.3%. The same $1,000 would be worth $5,196 if invested five years ago and $1,586 if invested one year ago. Past performance doesn’t predict future returns.
What is Targa Resources’s market cap?
Targa Resources’s market capitalization is about $56.7 billion. That’s Tiingo’s daily market cap for , at that day’s closing price of $264.59 (how market cap works). Targa Resources reported 214.43M shares outstanding at the end of its latest quarter ().
What is TRGP’s P/E ratio?
TRGP trades at 23.4 times its diluted earnings over the four quarters to ($11.30 per share), at the close. Over the past five years its P/E has ranged from 16.9 to 78.7, with a median of 25.9. (How the P/E ratio works.)
How much revenue does Targa Resources make?
Targa Resources reported $18.2 billion of revenue over the four quarters to , up 4.7% from the twelve months before. In its latest quarter (Q3 FY26, ended ) revenue was $5.6 billion, up 34.9% from a year earlier.
Is Targa Resources profitable?
Yes. Targa Resources earned $2.4 billion of net income over the four quarters to , a net margin of 13.5%, and its operating margin was 22.5% (what margins tell you).
What are TRGP’s earnings per share?
TRGP’s diluted earnings per share were $11.30 over the four quarters to , compared with $7.42 in the twelve months before. The latest quarter (Q3 FY26) brought $3.04 per share, against $2.20 a year earlier (how EPS works).
Does TRGP pay a dividend?
Yes. Targa Resources pays a quarterly dividend. The most recent was $1.25 per share, with an ex-dividend date of . Over the last twelve months it paid $4.75 per share, a 1.80% yield at the close, and the full-year dividend has risen 4 years in a row (how dividend yield works).
Based on the last 12 months’ payments ($4.75 per share), and if the next 12 months match the last 12, 100 shares would receive about $475 over 12 months, and $1,000 over 12 months would take about 211 shares, roughly $55,828 at the close. Dividends can change.
What is TRGP’s 52-week high and low?
Over the past 52 weeks TRGP has traded as low as $166.18 and as high as $316.60. At $264.59 at the close on , it is 16.4% below that high and 59.2% above the low.
What is TRGP’s all-time high?
TRGP’s highest closing price was $314.99 on , adjusted for stock splits. At $264.59 at the close on , it is 16.0% below that record.
Has TRGP stock ever split?
No. TRGP hasn’t split since its price history begins in 2010.
How has TRGP stock performed?
Including dividends and measured to the close on , TRGP has returned +46.1% so far this year and +58.6% over the past year, and +419.6% over five years (+39.0% a year). Over the same periods the S&P 500, measured by SPY, returned +8.7%, +10.9% and +67.8%. Past performance doesn’t predict future returns.
What sector and industry is Targa Resources in?
Targa Resources is in the Energy sector and the Oil & Gas Midstream industry, and is headquartered in Texas, USA.
What exchange does TRGP trade on?
Targa Resources trades on the NYSE under the ticker symbol TRGP. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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