Home / Business and Economy / TRGP Stock Soars on Record Q2 Earnings
TRGP Stock Soars on Record Q2 Earnings
18 Aug
Summary
- Targa Resources reported record Q2 earnings with $4.4 billion in revenue.
- Adjusted EBITDA increased 38% year-over-year to a record $1.6 billion.
- Analysts maintain a 'Strong Buy' consensus with a mean price target of $300.74.
Targa Resources Corp. (TRGP), headquartered in Houston, Texas, is a North American energy infrastructure company. As of August 18, 2026, TRGP stock has shown impressive performance, gaining 66.6% over the past year, significantly outperforming the S&P 500's 20.4% growth and the Energy Select Sector SPDR ETF's 44.7% rise.
In the second quarter of 2026, TRGP announced record results, with revenue of $4.4 billion, surpassing expectations. Its adjusted EBITDA surged 38% from the previous year to a record $1.6 billion. The company also achieved record volumes in several key operational areas during the quarter. For the full year 2026, TRGP anticipates adjusted EBITDA between $5.7 billion and $5.9 billion.
Looking ahead, analysts project TRGP's full-year 2026 diluted EPS to increase by 29.7% to $11.01. The company has a strong analyst consensus, with 19 out of 25 analysts rating it a 'Strong Buy.' RBC Capital recently maintained a 'Buy' rating and raised its price target to $312. The current mean price target of $300.74 indicates a potential 9% upside from its recent market price.
