Targa Resources Corp. (TRGP) Price Target Analysis
Updated Jun 18, 2026
Analyst Rating: Buy
Based on 34 analysts6.7% Below Target
TRGP trades 6.7% below Wall Street's consensus target of $276.00.
Current Price$258.58
Average Target$276.00
Target
Current
Low$231.00
Median$269.00
High$331.00
Analyst Target Range
Forward P/E23.9x
(Fair)
PEG Ratio—
Implied Growth+9.6%
(Low)
Analyst Spread36.2%
(Moderate)
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Consensus Scenario Assumptions
The base valuation assumes TRGP achieves its forward estimates and maintains a stable P/E multiple of 23.9x. This scenario reflects the blended consensus of 34 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
TRGP Price Target Analysis
Updated June 21, 2026As of June 21, 2026, Targa Resources Corp. (TRGP) has a Wall Street consensus price target of $276.00, based on estimates from 34 covering analysts. With the stock currently trading at $258.58, this represents a potential upside of +6.7%. The company has a market capitalization of $55.50B.
Analyst price targets range from a low of $231.00 to a high of $331.00, representing a 36% spread in expectations. The median target of $269.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 27 analysts rating the stock as a Buy or Strong Buy,7 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, TRGP trades at a trailing P/E of 30.3x and forward P/E of 23.9x. Analysts expect EPS to grow +9.6% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $153.96, with bear and bull scenarios of $97.00 and $202.86 respectively. Model confidence stands at 43/100, suggesting limited visibility into future performance.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Energy stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside
+6.9%
Industry Consensus
Avg Forward P/E
14.5x
(Value)
Peers with Coverage
10 / 10
Active Analyst Tracking
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WESWestern Midstream Partners, LP | $16.9B | $42.96 | $46.25 | +7.7% | Hold | 12.4x | 13 |
 CTRACoterra Energy Inc. | $24.7B | $32.56 | $34.20 | +5.0% | Buy | 11.3x | 55 |
 DTDynatrace, Inc. | $12.1B | $41.42 | $46.41 | +12.0% | Buy | 21.3x | 34 |
 HESMHess Midstream LP | $7.7B | $36.79 | $35.00 | -4.9% | Hold | 12.5x | 9 |
 MPLXMPLX Lp | $57.7B | $56.84 | $60.25 | +6.0% | Buy | 13.2x | 28 |
 AMAntero Midstream Corporation | $10.3B | $21.71 | $21.50 | -1.0% | Hold | 19.7x | 17 |
 EPDEnterprise Products Partners L.P. | $79.1B | $36.60 | $39.25 | +7.2% | Buy | 12.6x | 45 |
 ETEnergy Transfer LP | $64.5B | $18.75 | $23.00 | +22.7% | Buy | 12.8x | 33 |
 PAGPPlains GP Holdings, L.P. | $4.6B | $23.25 | $24.60 | +5.8% | Buy | 14.4x | 29 |
 OKEONEOK, Inc. | $53.6B | $85.03 | $92.50 | +8.8% | Hold | 14.9x | 39 |
TRGP — Frequently Asked Questions
Quick answers to the most common questions about buying TRGP stock.
What is the TRGP stock price target for 2026?
The consensus price target for TRGP is $276, close to the current price of $258.58 (6.7% implied move). Based on 34 analyst estimates, the stock appears fairly valued near current levels.
Is TRGP a buy, sell, or hold?
TRGP has a consensus rating of "Buy" based on 34 Wall Street analysts. The rating breakdown is predominantly bullish, with 27 Buy/Strong Buy ratings. The consensus 12-month price target of $276 implies 6.7% upside from current levels.
Is TRGP stock overvalued or undervalued?
TRGP trades at a forward P/E of 23.8767x, representing a moderate valuation. With analysts targeting $276 (6.7% implied move), the stock appears reasonably valued with upside.
How high can TRGP stock go?
The most bullish Wall Street analyst has a price target of $331 for TRGP, while the most conservative target is $231. The consensus of $276 represents the median expectation. Our quantitative valuation model projects a bull case target of $203 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover TRGP stock?
TRGP is heavily covered by Wall Street, with 34 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 26 have Buy ratings, 7 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the TRGP stock forecast?
The 12-month TRGP stock forecast based on 34 Wall Street analysts shows a consensus price target of $276, with estimates ranging from $231 (bear case) to $331 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $154, with bear/bull scenarios of $97/$203.
What is TRGP's fair value based on fundamentals?
Our quantitative valuation model calculates TRGP's fair value at $154 (base case), with a bear case of $97 and bull case of $203. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 43/100.
What is TRGP's forward P/E ratio?
TRGP trades at a forward P/E ratio of 23.9x based on next-twelve-months earnings estimates compared to a trailing P/E of 30.3x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy TRGP stock?
TRGP appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $276 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do TRGP price targets vary so much?
TRGP analyst price targets range from $231 to $331, a 36% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $276 consensus represents the middle ground. Our model's $97-$203 range provides an independent fundamental perspective.
Consensus-Based Analysis Tools
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