Targa Resources (TRGP) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $3.25
- Estimate
- $2.84
- Surprise
- +14.3%
- Revenue (period 2026-06-30)
- $4.44B
- Score at report (before → after)
- 5.6 → 5.4/10
Revenue source: xbrl.
How the report landed
Targa Resources (TRGP) beat the $2.84 estimate with diluted EPS of $3.25 — a large 14.3% upside surprise. TrendMatrix's engine moved from Buy (Wait) (5.6/10) to Sell at 5.4/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates TRGP Hold at 5.6/10.
4 of the last 4 quarters beat the estimate; this quarter's +14.3% surprise compares with a +11.0% four-quarter average. Next scheduled report: 2026-11-05.
What supports the rating
- Sector modifier (Energy): +1.2
- Strong earnings beat streak (4/4)
What argues against it
- Analyst target reached - limited upside remaining
- Near 52-week high (4.7% away)
- Leverage penalty (D/E 5.2): -1.5
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $293.54
- Price target
- $301.78
- Stop
- $275.70
- Upside to target
- +2.8%
At 28.3× trailing and 24.3× forward earnings, consensus estimates imply little change in earnings power.
Model outputs from TrendMatrix’s engine as of 2026-09-04 — shown for context, not personalized investment advice.
TRGP at TrendMatrix's latest read
Energy results are commodity-price arithmetic first; the operational beat or miss is read net of what the strip already told the market.
- Industry
- Oil & Gas Midstream
- Market cap
- $62.93B
- P/E (fwd)
- 24.3
- P/E (ttm)
- 28.3
- 52-week range
- $144.14–$307.94
- Off 52-week high
- 4.7%
- RSI (14)
- 63
- Volume vs avg
- 0.67×
- Score today
- 5.6/10