Targa Resources (TRGP) Stock Analysis

November 11, 2026

This is a peer-relative look at Targa Resources (TRGP): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Energy peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Targa Resources (TRGP)
Profile Item	TRGP
Name	Targa Resources Corp.
Country/Region	United States
GICS Sector	Energy
GICS Industry Group	Energy
GICS Industry	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Oil & Gas Storage & Transportation
Market Capitalization	56.77 billion USD
Currency	USD
Exchange	NYSE
Listing Date	December 7, 2010
Security Type	Common Stock

Price Performance

Cumulative Growth

TRGP

GSPC

Targa Resources (TRGP) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Targa Resources (TRGP) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Targa Resources (TRGP) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Total Return (1Y)	61.02%	32.08%
Total Return (3Y, Annualized)	51.25%	14.39%
Total Return (5Y, Annualized)	39.54%	15.43%

Risk Profile

Drawdown History

TRGP

GSPC

Targa Resources (TRGP) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Targa Resources (TRGP) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Volatility (1Y, Annualized)	29.62%	41.29%
Beta (5Y)	0.79	0.66
Max Drawdown (5Y)	-31.61%	-52.09%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. TRGP is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Sharpe Ratio (1Y)	1.92	0.67
Sortino Ratio (1Y)	2.91	1.01

Profitability

ROE (TTM)

Targa Resources (TRGP) posts ROE of 73.42%, above the industry benchmark range. Equity is being turned into profit at an exceptional rate, but very high ROE should still be checked against leverage, buybacks, and the size of the equity base.

TRGP

Energy industry group

73.42%

Group distribution

TRGP: 73.42%
Max: 53.85%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

Largest peers

TRGP: 73.42%
PBR: 30.27%
TTE: 17.83%
COP: 17.66%
SHEL: 17.43%
XOM: 15.53%
CVX: 13.85%

Where Targa Resources (TRGP) stands on ROE within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Targa Resources (TRGP) keeps 13.46% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

TRGP

Energy industry group

13.46%

Group distribution

Max: 56.92%
Q3: 22.92%
TRGP: 13.46%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Largest peers

PBR: 24.32%
COP: 16.76%
TRGP: 13.46%
CVX: 11.92%
XOM: 10.46%
TTE: 10.46%
SHEL: 10.18%

Where Targa Resources (TRGP) stands on net margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Targa Resources (TRGP) turns 19.58% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

TRGP

Energy industry group

19.58%

Group distribution

Max: 71.31%
Q3: 33.75%
TRGP: 19.58%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Largest peers

PBR: 44.68%
COP: 30.05%
TTE: 24.51%
TRGP: 19.58%
SHEL: 18.76%
CVX: 17.89%
XOM: 16.98%

Where Targa Resources (TRGP) stands on operating margin within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
ROE (TTM)	73.42%	12.85%
ROA (TTM)	9.52%	5.49%
Net Margin (TTM)	13.46%	10.10%
Operating Margin (TTM)	19.58%	18.73%
Gross Margin (TTM)	41.82%	44.52%

Growth

Revenue Growth

Targa Resources (TRGP) grew revenue 3.95%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Targa Resources (TRGP): Revenue Growth across different time periods, set against Energy industry-group medians.

EPS Growth

Targa Resources (TRGP) grew earnings per share 46.92%, in the upper peer quartile. Per-share profits are compounding faster than at most industry peers.

Targa Resources (TRGP): EPS Growth across different time periods, set against Energy industry-group medians.

Growth Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Revenue Growth (YoY)	3.95%	0.51%
Revenue Growth (3Y CAGR)	-6.65%	0.37%
EPS Growth (YoY)	46.92%	-11.75%
EPS Growth (3Y CAGR)	30.53%	-12.07%

Financial Strength

Current Ratio (MRQ)

Targa Resources (TRGP) has current ratio of 0.74, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

TRGP

Energy industry group

0.74

Group distribution

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
TRGP: 0.74
Min: 0.24

Largest peers

COP: 1.52
SHEL: 1.38
CVX: 1.34
XOM: 1.19
TTE: 1.11
PBR: 0.85
TRGP: 0.74

Where Targa Resources (TRGP) stands on current ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Targa Resources (TRGP) has debt-to-equity ratio of 5.01, above the industry benchmark range. Debt sits unusually high against shareholders’ equity, leaving the balance sheet more exposed to rate, refinancing, or earnings shocks.

TRGP

Energy industry group

5.01

Group distribution

TRGP: 5.01
Max: 1.75
Q3: 0.93
Median: 0.54
Q1: 0.30
Min: 0.00

Largest peers

TRGP: 5.01
PBR: 0.76
TTE: 0.46
SHEL: 0.38
COP: 0.35
CVX: 0.17
XOM: 0.13

Where Targa Resources (TRGP) stands on debt-to-equity ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Current Ratio (MRQ)	0.74	1.41
Debt / Equity (MRQ)	5.01	0.54
Net Debt / EBITDA	3.38	1.13

Dividends

Dividend Yield (TTM)

Targa Resources (TRGP) has dividend yield of 1.75%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

TRGP

Energy industry group

1.75%

Group distribution

Max: 8.57%
Q3: 3.58%
TRGP: 1.75%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Largest peers

PBR: 19.51%
TTE: 4.58%
CVX: 3.31%
XOM: 2.49%
COP: 2.48%
TRGP: 1.75%
SHEL: 1.54%

Where Targa Resources (TRGP) stands on dividend yield within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Targa Resources (TRGP) has payout ratio of 39.82%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

TRGP

Energy industry group

39.82%

Group distribution

Max: 133.24%
Q3: 53.31%
TRGP: 39.82%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Largest peers

CVX: 51.76%
XOM: 42.39%
TTE: 39.93%
TRGP: 39.82%
COP: 35.41%
PBR: 28.93%
SHEL: 26.24%

Where Targa Resources (TRGP) stands on payout ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
Dividend Yield (TTM)	1.75%	1.71%
Dividend Payout Ratio (TTM)	39.82%	25.24%

Valuation

P/E Ratio (TTM)

Targa Resources (TRGP) trades at P/E ratio of 23.42, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

TRGP

Energy industry group

23.42

Group distribution

Max: 39.54
TRGP: 23.42
Q3: 21.72
Median: 12.19
Q1: 7.71
Min: 2.99

Largest peers

TRGP: 23.42
XOM: 17.06
CVX: 15.61
COP: 14.36
TTE: 8.76
SHEL: 8.60
PBR: 4.68

Where Targa Resources (TRGP) stands on P/E ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Targa Resources (TRGP) trades at 3.12 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

TRGP

Energy industry group

3.12

Group distribution

Max: 5.40
TRGP: 3.12
Q3: 2.85
Median: 1.69
Q1: 0.88
Min: 0.00

Largest peers

TRGP: 3.12
COP: 2.34
CVX: 1.83
XOM: 1.74
TTE: 0.90
SHEL: 0.87
PBR: 0.22

Where Targa Resources (TRGP) stands on P/S ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Targa Resources (TRGP) trades at 14.87 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

TRGP

Energy industry group

14.87

Group distribution

TRGP: 14.87
Max: 4.21
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

Largest peers

TRGP: 14.87
XOM: 2.55
COP: 2.44
CVX: 2.13
TTE: 1.46
SHEL: 1.43
PBR: 1.25

Where Targa Resources (TRGP) stands on P/B ratio within its Energy peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Targa Resources (TRGP) metric values compared with Energy industry-group medians
Metric	Current stock: TRGP	Industry group median
P/E Ratio (TTM)	23.42	12.19
P/S Ratio (TTM)	3.12	1.69
P/B Ratio (MRQ)	14.87	1.51
Free Cash Flow Yield (TTM)	0.29%	5.94%