Q3 EPS Forecast for Targa Resources Boosted by Analyst

Key Points

• US Capital Advisors raised Targa Resources’ Q3 2026 EPS forecast to $2.53 from $2.51 and projected full-year 2027 and 2028 EPS of $11.65 and $12.87, respectively.
• Targa’s latest quarterly results exceeded expectations, with EPS of $3.54 versus the $2.83 consensus, although revenue came in below estimates at $4.44 billion.
• Analyst sentiment remains favorable: Targa has an overall “Buy” rating and a consensus price target of $325.47. The company also declared a $1.25 quarterly dividend, equal to a $5.00 annualized payout and a 1.6% yield.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Investment analysts at US Capital Advisors raised their Q3 2026 EPS estimates for Targa Resources in a report issued on Tuesday, October 27th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $2.53 for the quarter, up from their prior estimate of $2.51. The consensus estimate for Targa Resources' current full-year earnings is $11.42 per share. US Capital Advisors also issued estimates for Targa Resources' Q1 2027 earnings at $2.77 EPS, Q2 2027 earnings at $2.78 EPS, Q3 2027 earnings at $2.92 EPS, Q4 2027 earnings at $3.18 EPS, FY2027 earnings at $11.65 EPS and FY2028 earnings at $12.87 EPS.

Targa Resources (NYSE:TRGP - Get Free Report) last posted 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 firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $322.00 target price on shares of Targa Resources in a research report on Tuesday, October 13th. Jefferies Financial Group reissued a "buy" rating and set a $326.00 price target on shares of Targa Resources in a research report on Thursday, October 15th. UBS Group restated a "buy" rating and set a $318.00 price target (up from $305.00) on shares of Targa Resources in a research note on Thursday, July 9th. Stifel Nicolaus set a $335.00 price target on Targa Resources in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Targa Resources from $315.00 to $351.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Targa Resources has an average rating of "Buy" and a consensus target price of $325.47.

Targa Resources Stock Up 1.0%

Shares of NYSE:TRGP opened at $305.69 on Thursday. The business's 50 day moving average is $289.77 and its 200 day moving average is $257.48. The stock has a market cap of $65.55 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. Targa Resources has a 52-week low of $150.00 and a 52-week high of $308.46. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01.

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. Targa Resources's payout ratio is 47.80%.

Insider Transactions at Targa Resources

In related news, Director S Davis sold 2,400 shares of the company's stock in a transaction on Friday, August 21st. The stock was 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 in the company, valued at $458,195.43. This represents a 61.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles Crisp sold 3,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the sale, the director directly owned 62,292 shares of the company's stock, valued at approximately $18,079,007.16. The trade was a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,216 shares of company stock valued at $2,127,634. Corporate insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRGP. First Eagle Investment Management LLC boosted its stake in Targa Resources by 381.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company's stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Targa Resources during the second quarter worth $32,000. Compass Financial Management LLC purchased a new stake in shares of Targa Resources during the second quarter worth $33,000. CoreCap Advisors LLC raised its position in shares of Targa Resources by 245.9% in the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company's stock valued at $34,000 after buying an additional 91 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new stake in shares of Targa Resources in the second quarter valued at about $35,000. Institutional investors own 92.13% of the company's stock.

Key Targa Resources News

Here are the key news stories impacting Targa Resources this week:

• Positive Sentiment: US Capital Advisors raised earnings forecasts across 2027 and 2028. The firm increased its estimates for Q1, Q2, Q3 and Q4 2027, lifting its full-year 2027 EPS forecast to $11.65 from $11.05 and its 2028 forecast to $12.87 from $12.73. The revisions suggest improving confidence in Targa’s earnings trajectory and could support investor sentiment.
• Positive Sentiment: Near-term estimates also moved modestly higher. US Capital Advisors raised its Q3 2026 EPS estimate to $2.53 from $2.51 and its FY2026 forecast to $11.01 from $10.98. The firm’s estimates remain broadly consistent with expectations for strong earnings growth.
• Positive Sentiment: Momentum-focused coverage remains favorable. Zacks identified TRGP as a potential momentum pick, reinforcing the stock’s strong trend. Targa’s stock has a 50-day moving average of $289.77 and a 200-day moving average of $257.48, both below its recent trading level. Zacks momentum analysis
• Neutral Sentiment: Investors are awaiting quarterly results. Targa is scheduled to announce earnings Thursday, making the report, guidance and management commentary important near-term drivers for the stock. Targa Resources earnings announcement
• Negative Sentiment: One estimate was trimmed. US Capital Advisors lowered its Q4 2026 EPS forecast slightly to $2.68 from $2.69, limiting the overall positive impact of the revisions. The stock also underperformed some competitors despite registering a recent gain. MarketWatch performance report

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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