2026oct
TRGP Oct 2026 · Sell
Targa Resources Corp. is an integrated midstream energy infrastructure provider commanding leading gathering and processing scale across the Permian Basin and premier downstream fractionation and export assets in Mont Belvieu. However, with shares trading at $270.31 as of 2026-09-30 —a forward P/E multiple of 23.2x —the market is pricing in flawless execution across an unprecedented $4.5B growth capex program in 2026 while ignoring debt obligations of $19.58B and extended 18-24 month equipment lead times.Latest published research · analyzed 2026-10-01 · current · sources aging