Targa now sees 2026 adjusted EBITDA towards the top end of $5.7 bln to $5.9 bln range
Company continues to estimate 2026 net growth capital expenditures at about $4.5 bln
Targa expects 2026 net maintenance capital expenditures to remain at about $250 mln
Overview
U.S. midstream energy firm's Q2 revenue rose 4% but missed analyst expectations
Adjusted EBITDA hit record, beating analyst expectations
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$4.44 bln
$4.75 bln (6 Analysts)
Q2 Net Income
$777.70 mln
Q2 Adjusted EBITDA
Beat
$1.60 bln
$1.44 bln (19 Analysts)
Q2 Operating Expenses
$354.10 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for Targa Resources Corp. is $283.00, about 8.8% above its August 5 closing price of $260.11
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago
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