Targa Resources Corp. (TRGP) is a leading midstream energy company that owns and operates an extensive network of natural gas and natural gas liquids (NGL) infrastructure. The company provides services including gathering, compressing, processing, transporting, storing, and marketing natural gas and NGLs, supporting producers, refiners, and petrochemical customers across North America, particularly along the U.S. Gulf Coast. Targa Resources is headquartered in Houston, Texas, and operates through segments such as Gathering and Processing and Logistics and Transportation. The company has a market cap of around $51.4 billion.
Companies with a market cap above $10 billion are typically classified as large-cap stocks, and Targa Resources comfortably exceeds that threshold. The company maintains a strong operational footprint and is a key player in U.S. energy infrastructure.
TRGP is down just 3.9% from its 52-week high of $250, reached on Mar. 2. TRGP has risen 31.2% over the past three months, which is more pronounced than the Energy Select Sector SPDR Fund’s (XLE) 26.8% rise over the same time frame.
Moreover, TRGP is up nearly 30.3% on a YTD basis, slightly outperforming XLE’s 29.1% gain. However, shares of Targa Resources have surged 31.4% over the past 52 weeks, compared to XLE’s 32.4% increase over the same time frame.
To confirm the bullish price trend, TRGP has been trading above its 50-day and 200-day moving averages since late November 2025.
Shares of Targa Resources have been rising in 2026 largely due to strong earnings growth, an optimistic financial outlook, and expanding midstream infrastructure. Targa reported record adjusted EBITDA of about $5 billion in 2025, a 20% increase year-over-year, while management projected $5.4 billion to $5.6 billion in EBITDA for 2026, reinforcing expectations for continued earnings expansion.
Higher processing, transportation, and fractionation volumes, particularly in the Permian Basin, along with new infrastructure projects and acquisitions, have strengthened its growth prospects.
On the other hand, in comparison, its rival Cheniere Energy, Inc. (LNG) has risen 21% over the past 52 weeks and is up 31.7% on a YTD basis.
Amid the stock’s strong price action, analysts are bullish about its prospects. TRGP has a consensus rating of “Strong Buy” from the 22 analysts covering the stock, and the mean price target of $241.04 represents a premium of just 1.2% to current levels.
On the date of publication, Subhasree Kar did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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