TRGP

Targa ResourcesC

NYSE / Energy

Quote time unavailable

Current thesis

Primary-source evidence improved on May 7, 2026: raised 2026 EBITDA outlook, record Permian inlet and fractionation volumes, and management said Q2 Permian inlet volumes were already trending significantly above Q1 [#8-K-2026-05-07]. That supports the view that the current capex cycle is already converting into earnings power.

Posture

Mixed

Lead driver

Sentiment

What changed

Sentiment remains the lead driver in the composite, 7D delta +5.7.

What can break

A late-Q1 unplanned outage at part of the export facility reduced LPG export volumes; management said it was resolved early in Q2, but reliability and volume normalization still need to show up in results [#8-K-2026-05-07].

Momentum

Value

Sentiment

Setup hits (3d)

0 · Net Neutral

AI TargetsBase $255.00 · Bull $285.00 · Bear $225.00Analysis 2026-05-08; returns require an exact persisted reference.

Data freshness

Prices

Unavailable: Price unavailable

Fundamentals

As of 2026-08-17 • Vendor: Data Vendor v1

Scores

As of 2026-09-09 • Model: HYBRID_IC_RP

AI Memo

As of 2026-05-08 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-09-09

Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-09. Definitions

Supporting evidence

What

Grade C · Mixed

Confidence Medium · Net Neutral

Target $317.10

Why

Momentum64 · Δ7d +8.1

Value42 · Δ7d +0.1

Sentiment57 · Δ7d +5.7

So what

Balanced signals (Net Neutral). Wait for confirmation before sizing up.

Confirming evidence

• Sentiment remains the lead driver in the composite, 7D delta +5.7.

Contradictions & invalidation

• A late-Q1 unplanned outage at part of the export facility reduced LPG export volumes; management said it was resolved early in Q2, but reliability and volume normalization still need to show up in results [#8-K-2026-05-07].
• Producer curtailments and severe winter weather reduced Q1 volumes in parts of the system, showing sensitivity to upstream activity and operating conditions [#8-K-2026-05-07].
• This is still an execution-heavy story.

Catalyst clock

2026-05-07

Q1 print raised 2026 EBITDA outlook

Lead driver: Sentiment · See AI snapshot

Momentum

9% active weight

Current posture

7d trendImproving

Δ7d

+8.1

Δ21d

+1.2

Value

28% active weight

Current posture

7d trendFlat

Δ7d

+0.1

Δ21d

+0.9

Sentiment

62% active weight

Current posture

7d trendImproving

Δ7d

+5.7

Δ21d

+3.4

Why this grade

Composite grade C. Momentum 64.1 / Value 41.8 / Sentiment 57.2

Scenario snapshot

Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-05-08. Scenario method

B+

Bull case

30%

Probability

Target price

$285.00

Analysis reference price unavailable

Analysis 2026-05-08 · RankAlpha Sentiment Codex

Most likely

Base case

45%

Probability

Target price

$255.00

Analysis reference price unavailable

Analysis 2026-05-08 · RankAlpha Sentiment Codex

B-

Bear case

25%

Probability

Target price

$225.00

Analysis reference price unavailable

Analysis 2026-05-08 · RankAlpha Sentiment Codex

Fundamentals (TTM)

As of 2026-08-17

Market Cap

$59.6B

Beta

0.88

Shares Out

214.43M

P/E (TTM)

24.7

P/S (TTM)

2.27

P/FCF (TTM)

575.78

Rev YoY

+11.7%

EPS YoY

+22.9%

Gross Margin

+27.0%

Op Margin

+24.8%

Net Debt

$17.2B

Current Ratio

0.77

As of 2026-09-09 • Updated nightlySource: Internal modelMethods & Data