TRGPTarga Resources Corp.
Targa Resources Corp. (TRGP) is a midstream energy company that owns and operates natural gas gathering, processing, and transportation assets in the Permian Basin. The company generates revenue through fee-based services for third-party producers, with a focus on maximizing margins via midstream operations. The next catalyst is Nov 4, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to sustain its earnings momentum amid rising input costs and regulatory pressures.
- Targa’s core business is midstream, with a heavy focus on the Permian Basin, where it owns 100% of its gathering and processing assets.
- The company has a strong balance sheet, with a debt-to-equity ratio of 5.86x and free cash flow of $267.40M in the trailing twelve months.
- Its net margin of 17.9% reflects the pricing power of its midstream assets, though rising gas prices and input costs may pressure margins in the near term.
The schedule
- Wed4Nov
Q3 2026 Earnings Release and Guidance
- Tue9Feb
Q4 2026 Earnings Release and Guidance
- Thu6May
Q1 2027 Earnings Release and Guidance
- Thu5Aug
Q2 2027 Earnings Release and Guidance
Past
- Thu6Aug
Actual outcome: Mixed · $265.45 at outcome
Targa Resources delivered a strong Q2 earnings beat, reporting EPS of $3.54 against estimates of $2.83, fueled by record Permian natural gas volumes and higher midstream margins. While the initial price reaction was muted, these robust operating results and strong demand for its transportation and export services ultimately drove the stock significantly higher, easily surpassing the bull target in the following weeks.
Targa Resources delivered a strong Q2 earnings beat, reporting EPS of $3.54 against estimates of $2.83, fueled by record Permian natural gas volumes and higher midstream margins. While the initial price reaction was muted, these robust operating results and strong demand for its transportation and export services ultimately drove the stock significantly higher, easily surpassing the bull target in the following weeks.
- Thu7May
Actual outcome: Bull · $270.69 at outcome
Targa Resources delivered a mixed Q1 2026 report, missing consensus estimates for both earnings and revenue. Despite the top- and bottom-line miss, the company reported record first-quarter net income and raised its full-year 2026 financial outlook, forecasting core profit above expectations due to higher natural gas liquids transport volumes. The stock drifted slightly lower as investors weighed the immediate earnings miss against the strengthened forward guidance.
Targa Resources delivered a mixed Q1 2026 report, missing consensus estimates for both earnings and revenue. Despite the top- and bottom-line miss, the company reported record first-quarter net income and raised its full-year 2026 financial outlook, forecasting core profit above expectations due to higher natural gas liquids transport volumes. The stock drifted slightly lower as investors weighed the immediate earnings miss against the strengthened forward guidance.
- Thu19Feb
Actual outcome: Bull · $237.41 at outcome
Targa reported record full-year 2025 Adjusted EBITDA of $4.96 billion and 11% Permian volume growth, while providing a 'record' outlook for 2026. Although EPS narrowly missed estimates, the market focused on the core profit beat and strong volume guidance, which cleared the high expectations and pushed the stock well past the $210 bull target.
Targa reported record full-year 2025 Adjusted EBITDA of $4.96 billion and 11% Permian volume growth, while providing a 'record' outlook for 2026. Although EPS narrowly missed estimates, the market focused on the core profit beat and strong volume guidance, which cleared the high expectations and pushed the stock well past the $210 bull target.