FY2026 EPS Forecast for Targa Resources Raised by Analyst

Key Points

• US Capital Advisors raised Targa Resources’ FY2026 EPS forecast to $11.01 from $10.98, though it remains below the $11.42 consensus estimate. The firm projects fourth-quarter 2026 EPS of $2.68.
• Targa’s latest quarterly results beat expectations, with EPS of $3.54 versus the $2.83 consensus, while revenue of $4.44 billion fell short of the $4.90 billion estimate.
• Analysts maintain a bullish outlook, with a consensus “Buy” rating and $325.47 price target. Targa also declared a quarterly dividend of $1.25, equating to a 1.7% annualized yield.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Stock analysts at US Capital Advisors lifted their FY2026 earnings per share estimates for shares of Targa Resources in a research note issued on Tuesday, October 27th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $11.01 per share for the year, up from their previous estimate of $10.98. The consensus estimate for Targa Resources' current full-year earnings is $11.42 per share. US Capital Advisors also issued estimates for Targa Resources' Q4 2026 earnings at $2.68 EPS.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.71. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion.

Several other equities research analysts have also recently commented on TRGP. Raymond James Financial reaffirmed a "strong-buy" rating and set a $340.00 target price on shares of Targa Resources in a research note on Tuesday, October 20th. Jefferies Financial Group restated a "buy" rating and set a $326.00 price target on shares of Targa Resources in a report on Thursday, October 15th. Morgan Stanley raised their price objective on shares of Targa Resources from $343.00 to $359.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 16th. Wolfe Research set a $335.00 price objective on shares of Targa Resources in a research note on Friday, August 7th. Finally, Mizuho boosted their target price on shares of Targa Resources from $300.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $325.47.

Targa Resources Price Performance

Shares of Targa Resources stock opened at $302.19 on Wednesday. Targa Resources has a one year low of $150.00 and a one year high of $307.94. The stock's 50-day moving average is $289.63 and its 200 day moving average is $256.84. The firm has a market cap of $64.80 billion, a price-to-earnings ratio of 28.89 and a beta of 0.80.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, October 30th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 30th. Targa Resources's dividend payout ratio (DPR) is 47.80%.

Insider Activity

In other news, Director Waters S. Iv Davis sold 2,400 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the sale, the director directly owned 1,529 shares of the company's stock, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul W. Chung sold 1,816 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the completion of the sale, the director owned 44,000 shares in the company, valued at $13,028,840. This represents a 3.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,216 shares of company stock worth $2,127,634 over the last quarter. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Targa Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Targa Resources by 1.4% during the 2nd quarter. BlackRock Inc. now owns 20,832,687 shares of the pipeline company's stock valued at $5,586,077,000 after acquiring an additional 291,114 shares in the last quarter. State Street Corp raised its stake in shares of Targa Resources by 4.6% in the second quarter. State Street Corp now owns 14,226,166 shares of the pipeline company's stock valued at $3,814,604,000 after buying an additional 626,885 shares during the period. Deutsche Bank AG lifted its holdings in Targa Resources by 21.7% during the second quarter. Deutsche Bank AG now owns 3,025,248 shares of the pipeline company's stock valued at $811,190,000 after purchasing an additional 539,582 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Targa Resources by 28.0% during the 1st quarter. Bank of America Corp DE now owns 3,151,993 shares of the pipeline company's stock valued at $790,299,000 after buying an additional 688,598 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Targa Resources by 10.8% in the second quarter. Amundi now owns 2,222,046 shares of the pipeline company's stock worth $595,817,000 after acquiring an additional 215,915 shares during the period. 92.13% of the stock is owned by institutional investors.

About Targa Resources

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company's services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.

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