Targa Resources (TRGP) Stock Forecast, Price Target & Predictions
TRGP Stock Forecast
Targa Resources stock forecast is as follows: an average price target of $102.88 (represents a -30.58% downside from TRGP’s last price of $148.19) and a rating consensus of 'Buy', based on 10 wall street analysts offering a 1-year stock forecast.
TRGP Price Target
The average price target for Targa Resources (TRGP) is $102.88 based on 1-year price targets from 10 Wall Street analysts in the past 3 months, with a price target range of $142.00 to $45.00. This represents a potential -30.58% downside from TRGP's last price of $148.19.
TRGP Analyst Ratings
According to 10 Wall Street analysts, Targa Resources's rating consensus is 'Buy'. The analyst rating breakdown for TRGP stock is 1 'Strong Buy' (10.00%), 9 'Buy' (90.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Targa Resources Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jul 30, 2024 | Sunil Sibal | Seaport Global | $141.00 | $134.14 | 5.11% | -4.85% |
| Jul 17, 2024 | Tristan Richardson | Scotiabank | $142.00 | $136.22 | 4.24% | -4.18% |
| Jun 26, 2024 | John Staszak | Argus Research | $140.00 | $129.83 | 7.83% | -5.53% |
| Jun 07, 2024 | Neal Dingmann | Truist Financial | $125.00 | $118.00 | 5.93% | -15.65% |
| May 16, 2024 | Elvira Scotto | RBC Capital | $128.00 | $115.58 | 10.75% | -13.62% |
| Apr 09, 2024 | Christine Cho | Barclays | $122.00 | $114.41 | 6.63% | -17.67% |
| Apr 03, 2024 | Gabriel Moreen | Mizuho Securities | $130.00 | $113.29 | 14.75% | -12.27% |
| Mar 19, 2024 | Neal Dingmann | Truist Financial | $120.00 | $109.11 | 9.98% | -19.02% |
| Dec 15, 2022 | - | UBS | $106.00 | $71.11 | 49.06% | -28.47% |
| Dec 09, 2022 | - | Citigroup | $95.00 | $68.27 | 39.15% | -35.89% |
The latest Targa Resources stock forecast, released on Jul 30, 2024 by Sunil Sibal from Seaport Global, set a price target of $141.00, which represents a 5.11% increase from the stock price at the time of the forecast ($134.14), and a -4.85% decrease from TRGP last price ($148.19).
Targa Resources Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 3 | 8 |
| Avg Price Target | - | $141.00 | $131.00 |
| Last Closing Price | $148.19 | $148.19 | $148.19 |
| Upside/Downside | -100.00% | -4.85% | -11.60% |
In the current month, the average price target of Targa Resources stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Targa Resources's last price of $148.19. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 13, 2024 | RBC Capital | Outperform | Outperform | Hold |
| Jul 30, 2024 | Seaport Global | Buy | Buy | Hold |
| Jul 17, 2024 | Scotiabank | Outperform | Outperform | Hold |
| Jul 03, 2024 | Barclays | Overweight | Overweight | Hold |
| Jun 20, 2024 | RBC Capital | Outperform | Outperform | Hold |
| Jun 11, 2024 | UBS | Buy | Buy | Hold |
| Jun 10, 2024 | Morgan Stanley | Overweight | Overweight | Hold |
| Jun 10, 2024 | Barclays | Overweight | Overweight | Hold |
| May 16, 2024 | RBC Capital | Outperform | Outperform | Hold |
| Apr 09, 2024 | Barclays | Overweight | Overweight | Hold |
Targa Resources's last stock rating was published by RBC Capital on Aug 13, 2024. The company gave TRGP a "Outperform" rating, the same as its previous rate.
Targa Resources Financial Forecast
Targa Resources Revenue Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $4.24B | $3.90B | $3.40B | $4.52B | $4.55B | $5.36B | - | $4.96B | $5.44B | $4.46B | $3.42B | $3.63B | $2.57B | $2.12B |
| Avg Forecast | $7.54B | $7.16B | $6.79B | $6.44B | $7.31B | $6.71B | $6.33B | $6.51B | $6.04B | $5.40B | $5.09B | $4.93B | $4.79B | $4.51B | $4.47B | $4.30B | $3.85B | $4.54B | $4.36B | $5.28B | $5.73B | $6.71B | $5.75B | $4.94B | $4.48B | $3.75B | $3.12B | $2.61B | $2.22B | $1.98B |
| High Forecast | $8.40B | $7.97B | $7.56B | $7.18B | $8.14B | $7.48B | $7.05B | $7.25B | $6.73B | $6.01B | $5.67B | $5.49B | $5.34B | $4.92B | $4.98B | $4.79B | $4.77B | $6.40B | $4.86B | $5.88B | $6.38B | $7.47B | $5.75B | $5.77B | $5.23B | $4.38B | $3.65B | $3.05B | $2.60B | $2.31B |
| Low Forecast | $6.77B | $6.42B | $6.10B | $5.78B | $6.56B | $6.03B | $5.68B | $5.85B | $5.42B | $4.85B | $4.57B | $4.42B | $4.30B | $4.15B | $4.02B | $3.86B | $3.34B | $3.31B | $3.92B | $4.74B | $5.14B | $6.02B | $5.75B | $4.20B | $3.81B | $3.19B | $2.66B | $2.22B | $1.89B | $1.68B |
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 3 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 9 | 10 | 16 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.10% | 0.86% | 0.78% | 0.86% | 0.79% | 0.80% | - | 1.00% | 1.21% | 1.19% | 1.09% | 1.39% | 1.16% | 1.07% |
Targa Resources's average Quarter revenue forecast for Mar 24 based on 1 analysts is $4.30B, with a low forecast of $3.86B, and a high forecast of $4.79B. TRGP's average Quarter revenue forecast represents a 1.43% increase compared to the company's last Quarter revenue of $4.24B (Dec 23).
Targa Resources EBITDA Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 3 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 9 | 10 | 16 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $115.50M | $322.30M | $398.40M | $1.16B | $881.30M | $704.30M | - | $504.90M | $1.10M | $498.10M | $177.90M | $264.50M | $189.20M | $402.60M |
| Avg Forecast | $1.86B | $1.77B | $1.68B | $1.59B | $1.80B | $1.66B | $1.56B | $1.61B | $1.49B | $1.33B | $1.26B | $1.22B | $1.18B | $1.11B | $1.10B | $742.87M | $950.72M | $1.12B | $1.08B | $675.33M | $1.41B | $235.20M | $1.42B | $533.86M | $4.18M | $213.82M | $366.45M | $422.02M | $-864.13M | $177.14M |
| High Forecast | $2.07B | $1.97B | $1.87B | $1.77B | $2.01B | $1.85B | $1.74B | $1.79B | $1.66B | $1.49B | $1.40B | $1.36B | $1.32B | $1.21B | $1.23B | $891.44M | $1.18B | $1.58B | $1.20B | $810.40M | $1.58B | $282.24M | $1.42B | $640.63M | $5.02M | $256.58M | $439.74M | $506.43M | $-691.30M | $212.57M |
| Low Forecast | $1.67B | $1.59B | $1.51B | $1.43B | $1.62B | $1.49B | $1.40B | $1.44B | $1.34B | $1.20B | $1.13B | $1.09B | $1.06B | $1.02B | $991.62M | $594.29M | $823.96M | $818.09M | $967.17M | $540.27M | $1.27B | $188.16M | $1.42B | $427.09M | $3.35M | $171.05M | $293.16M | $337.62M | $-1.04B | $141.72M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.12% | 0.29% | 0.37% | 1.72% | 0.62% | 2.99% | - | 0.95% | 0.26% | 2.33% | 0.49% | 0.63% | -0.22% | 2.27% |
1 analysts predict TRGP's average Quarter EBITDA for Mar 24 to be $742.87M, with a high of $891.44M and a low of $594.29M. This is 543.17% upper than Targa Resources's previous annual EBITDA (Dec 23) of $115.50M.
Targa Resources Net Income Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 3 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 9 | 10 | 16 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $1.26B | $220.00M | $329.30M | $497.00M | $318.00M | $279.30M | - | $168.60M | $-249.20M | $182.20M | $56.20M | $146.40M | $33.60M | $69.30M |
| Avg Forecast | $492.33M | $492.44M | $472.62M | $484.30M | $495.16M | $425.89M | $388.78M | $406.23M | $471.01M | $416.86M | $401.07M | $402.97M | $388.05M | $340.90M | $284.74M | $288.02M | $324.36M | $265.05M | $273.53M | $261.83M | $303.31M | $86.03M | $243.37M | $206.98M | $-1.19B | $78.21M | $75.00M | $163.62M | $590.32M | $30.49M |
| High Forecast | $565.25M | $565.38M | $542.63M | $556.03M | $568.50M | $488.97M | $446.36M | $466.40M | $540.77M | $478.61M | $460.47M | $462.65M | $445.53M | $382.69M | $326.91M | $345.62M | $383.14M | $331.85M | $314.05M | $314.20M | $348.23M | $103.24M | $243.37M | $248.38M | $-954.48M | $93.86M | $90.00M | $196.35M | $708.39M | $36.59M |
| Low Forecast | $426.86M | $426.96M | $409.78M | $419.90M | $429.32M | $369.26M | $337.08M | $352.22M | $408.38M | $361.43M | $347.74M | $349.38M | $336.46M | $285.92M | $246.87M | $230.41M | $276.47M | $215.49M | $237.16M | $209.47M | $262.98M | $68.83M | $243.37M | $165.59M | $-1.43B | $62.57M | $60.00M | $130.90M | $472.26M | $24.39M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.88% | 0.83% | 1.20% | 1.90% | 1.05% | 3.25% | - | 0.81% | 0.21% | 2.33% | 0.75% | 0.89% | 0.06% | 2.27% |
Targa Resources's average Quarter net income forecast for Mar 24 is $288.02M, with a range of $230.41M to $345.62M. TRGP's average Quarter net income forecast represents a -77.13% decrease compared to the company's last Quarter net income of $1.26B (Dec 23).
Targa Resources SG&A Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 3 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 9 | 10 | 16 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $95.30M | $90.00M | $81.00M | $82.40M | $92.50M | $79.10M | - | $67.10M | $80.80M | $67.30M | $63.70M | $61.40M | $74.00M | $58.60M |
| Avg Forecast | $175.61M | $166.64M | $158.12M | $150.04M | $170.21M | $156.35M | $147.42M | $151.66M | $140.71M | $125.73M | $118.61M | $114.73M | $111.62M | $104.94M | $104.17M | $120.79M | $89.66M | $105.82M | $101.61M | $109.81M | $133.44M | $31.78M | $133.99M | $86.81M | $307.41M | $28.89M | $85.01M | $68.62M | $81.63M | $106.13M |
| High Forecast | $195.62M | $185.62M | $176.14M | $167.14M | $189.60M | $174.16M | $164.22M | $168.94M | $156.75M | $140.06M | $132.12M | $127.81M | $124.34M | $114.56M | $116.04M | $144.95M | $110.98M | $149.07M | $113.18M | $131.78M | $148.64M | $38.13M | $133.99M | $104.17M | $368.89M | $34.67M | $102.01M | $82.35M | $97.96M | $127.35M |
| Low Forecast | $157.65M | $149.59M | $141.95M | $134.69M | $152.80M | $140.36M | $132.34M | $136.15M | $126.32M | $112.87M | $106.47M | $103.00M | $100.21M | $96.66M | $93.52M | $96.64M | $77.71M | $77.15M | $91.21M | $87.85M | $119.79M | $25.42M | $133.99M | $69.45M | $245.93M | $23.11M | $68.01M | $54.90M | $65.31M | $84.90M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.06% | 0.85% | 0.80% | 0.75% | 0.69% | 2.49% | - | 0.77% | 0.26% | 2.33% | 0.75% | 0.89% | 0.91% | 0.55% |
Targa Resources's average Quarter SG&A projection for Mar 24 is $120.79M, based on 1 Wall Street analysts, with a range of $96.64M to $144.95M. The forecast indicates a 26.75% rise compared to TRGP last annual SG&A of $95.30M (Dec 23).
Targa Resources EPS Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 3 | 4 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 9 | 10 | 16 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $5.61 | $0.98 | $1.46 | $0.03 | $0.09 | $1.23 | - | $0.74 | $-1.09 | $0.70 | $0.15 | $0.54 | $1.15 | $0.16 |
| Avg Forecast | $2.22 | $2.22 | $2.13 | $2.18 | $2.23 | $1.92 | $1.75 | $1.83 | $2.12 | $1.88 | $1.81 | $1.82 | $1.75 | $1.54 | $1.28 | $1.31 | $1.46 | $1.19 | $1.23 | $1.44 | $1.37 | $1.21 | $1.09 | $0.98 | $0.65 | $0.50 | $0.29 | $0.15 | $0.31 | $0.14 |
| High Forecast | $2.55 | $2.55 | $2.45 | $2.51 | $2.56 | $2.20 | $2.01 | $2.10 | $2.44 | $2.16 | $2.08 | $2.08 | $2.01 | $1.72 | $1.47 | $1.51 | $1.73 | $1.50 | $1.42 | $1.65 | $1.57 | $1.39 | $1.09 | $1.20 | $0.79 | $0.61 | $0.36 | $0.18 | $0.38 | $0.17 |
| Low Forecast | $1.92 | $1.92 | $1.85 | $1.89 | $1.93 | $1.66 | $1.52 | $1.59 | $1.84 | $1.63 | $1.57 | $1.57 | $1.52 | $1.29 | $1.11 | $1.14 | $1.25 | $0.97 | $1.07 | $1.24 | $1.19 | $1.05 | $1.09 | $0.79 | $0.52 | $0.40 | $0.24 | $0.12 | $0.25 | $0.11 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.84% | 0.82% | 1.18% | 0.02% | 0.06% | 1.02% | - | 0.75% | -1.69% | 1.40% | 0.51% | 3.61% | 3.72% | 1.14% |
According to 1 Wall Street analysts, Targa Resources's projected average Quarter EPS for Mar 24 is $1.31, with a low estimate of $1.14 and a high estimate of $1.51. This represents a -76.61% decrease compared to TRGP previous annual EPS of $5.61 (Dec 23).
Targa Resources Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| WES | Western Midstream Partners, LP | $39.57 | $37.67 | -4.80% | Hold |
| HESM | Hess Midstream LP | $36.71 | $34.33 | -6.48% | Hold |
| ENLC | EnLink Midstream | $14.52 | $13.33 | -8.20% | Buy |
| PAA | Plains All American Pipeline | $17.71 | $15.58 | -12.03% | Hold |
| MPLX | MPLX LP | $43.78 | $38.30 | -12.52% | Buy |
| PAGP | Plains GP | $18.73 | $16.05 | -14.31% | Buy |
| TRGP | Targa Resources | $148.19 | $102.88 | -30.58% | Buy |
TRGP Forecast FAQ
Is Targa Resources a good buy?
Yes, according to 10 Wall Street analysts, Targa Resources (TRGP) is considered a 'Buy'. The rating consensus is based on 1 'Strong Buy' and 9 'Buy' recommendations, accounting for 100.00% of TRGP's total ratings.
What is TRGP's price target?
Targa Resources (TRGP) average price target is $102.88 with a range of $45 to $142, implying a -30.58% from its last price of $148.19. The data is based on 10 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Targa Resources stock go up soon?
According to Wall Street analysts' prediction for TRGP stock, the company can go down by -30.58% (from the last price of $148.19 to the average price target of $102.88), down by -4.18% based on the highest stock price target, and down by -69.63% based on the lowest stock price target.
Can Targa Resources stock reach $200?
TRGP's average twelve months analyst stock price target of $102.88 does not support the claim that Targa Resources can reach $200 in the near future.
What are Targa Resources's analysts' financial forecasts?
Targa Resources's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $26.87B (high $29.93B, low $24.12B), average EBITDA is $6.63B (high $7.39B, low $5.96B), average net income is $1.72B (high $1.97B, low $1.49B), average SG&A $625.63M (high $696.91M, low $561.64M), and average EPS is $7.73 (high $8.88, low $6.71). TRGP's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $27.93B (high $31.11B, low $25.07B), average EBITDA is $6.9B (high $7.68B, low $6.19B), average net income is $1.94B (high $2.23B, low $1.68B), average SG&A $650.41M (high $724.51M, low $583.88M), and average EPS is $8.75 (high $10.05, low $7.59).
Did the TRGP's actual financial results beat the analysts' financial forecasts?
Based on Targa Resources's last annual report (Dec 2023), the company's revenue was $16.06B, which missed the average analysts forecast of $18.04B by -10.97%. Apple's EBITDA was $2.58B, missing the average prediction of $3.83B by -32.44%. The company's net income was $2.31B, beating the average estimation of $1.12B by 104.99%. Apple's SG&A was $348.7M, missing the average forecast of $406.9M by -14.30%. Lastly, the company's EPS was $10.27, beating the average prediction of $5.32 by 92.90%. In terms of the last quarterly report (Dec 2023), Targa Resources's revenue was $4.24B, beating the average analysts' forecast of $3.85B by 10.11%. The company's EBITDA was $115.5M, missing the average prediction of $950.72M by -87.85%. Targa Resources's net income was $1.26B, beating the average estimation of $324.36M by 288.27%. The company's SG&A was $95.3M, beating the average forecast of $89.66M by 6.29%. Lastly, the company's EPS was $5.61, beating the average prediction of $1.46 by 283.79%