Targa Resources (TRGP)
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
$290.05-1.19%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
QuarterlyIQ Insights · TRGP
Price, fair value, and the multiples that frame it on the same time axis. Scroll over the price chart to zoom.
Daily closes. Earnings/event dots inline.
A consensus fair price across 12 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $290 TRGP trades at 26× p/e, in line with its 23× p/e peer median — but our blended $199 fair value sits well below the price. We hold it with low confidence: our number sits well below the analyst range and quality doesn't explain valuation multiples in this sub-industry, so the peer comparison is a weak guide. Analysts target $257–$350. Note: our $199 fair value sits below the entire analyst range ($257–$350). Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Score 100 = cheapest in the cohort, 0 = richest. Bars are filled left-to-right based on the peer-relative score (or PEG/self-history where shown).
Each method's implied share price per horizon. Provisional rows use a projected (historical-CAGR) growth input rather than analyst or management guidance.
| Method | Horizon | Est. price | Multiple | Per-share input | EPS source | Confidence |
|---|---|---|---|---|---|---|
| analyst target | 12M | $313.00 | — | — | Analyst | high |
| dcf fcfe | 12M | $166.21 | — | — | Hist. CAGR | high |
| ddm gordon | 12M | $30.10 | — | — | TTM | high |
| graham number | 12M | $66.64 | — | — | TTM | high |
| Peer EV/EBITDA |
A “consensus-then vs. actual-now” overlay is on the way — what our valuation estimate said on a past date versus where the price actually landed.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A long-thesis check that carries the widest uncertainty of the three horizons.
Bottom 25% on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
$257.00 – $350.00 (median $313.00) · 24 analysts · as of 2026-09-02
Flags: expensive valuation, a turbulent sector regime (Heating).
For similar setups historically (n=2,301): about 43% saw a 20%+ drawdown, and roughly 77% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
At today's price you pay about 3085% over what the business is worth with no growth; closing that gap needs roughly 19.7 years of the forecast growth to come through. These describe the expectations embedded in the price, not a forecast of the move. Reverse-DCF base: $0.48/sh owner earnings.
Looks more expensive than peers.
Around its own typical valuation.
Trailing four: 2025-Q2, 2025-Q3, 2026-Q1, 2026-Q2
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
| 12M |
| $108.45 |
| 7.5 |
| 25.97 |
| TTM |
| high |
| Peer P/FCF | 12M | $48.45 | 14.1 | 3.44 | TTM | high |
| Peer P/E | 12M | $172.76 | 14.4 | 11.96 | ntm analyst | high |
| Peer P/S | 12M | $133.55 | 1.7 | 77.80 | TTM | high |
| PEG | 12M | $52.42 | 4.7 | 11.19 | TTM | high |
| residual income | 12M | $54.72 | — | — | TTM | high |
| Own P/E history | 12M | $301.60 | 27.0 | 11.19 | TTM | high |
| triangulated | 12M | $269.95 | 22.5 | 11.99 | Triangulated | high |
| Peer P/FCF | 3Y | $41.98 | 14.1 | 2.98 | Hist. CAGR(prov.) | medium |
| Peer P/E | 3Y | $226.92 | 14.4 | 15.71 | Analyst | medium |
| Peer P/S | 3Y | $233.78 | 1.7 | 136.19 | Analyst | medium |
| PEG | 3Y | $73.61 | 4.7 | 15.71 | Analyst | medium |
| Own P/E history | 3Y | $423.53 | 27.0 | 15.71 | Analyst | medium |
| Peer P/FCF | 5Y | $38.15 | 14.1 | 2.71 | Hist. CAGR(prov.) | medium |
| Peer P/E | 5Y | $300.10 | 14.4 | 20.78 | Analyst | medium |
| Peer P/S | 5Y | $309.17 | 1.7 | 180.11 | Analyst | medium |
| PEG | 5Y | $97.35 | 4.7 | 20.78 | Analyst | medium |
| Own P/E history | 5Y | $560.12 | 27.0 | 20.78 | Analyst | medium |