Targa Resources (TRGP) Jumps Following Q3 Report

The share price of Targa Resources Corp. (NYSE:TRGP) surged by 11.7% between October 31 and November 7, 2025, putting it among the Energy Stocks that Gained the Most This Week.

Targa Resources (TRGP) Jumps Following Q3 Report

Targa Resources Corp. (NYSE:TRGP) is a leading provider of midstream services and one of the largest independent infrastructure companies in North America.

Targa Resources Corp. (NYSE:TRGP) shot up after it topped forecasts in its third-quarter results on November 5. The company posted record adjusted EBITDA of $1.3 billion for Q3, a 19% increase YoY and up 10% sequentially, as production from the prolific Permian basin hit fresh highs. TRGP now expects its FY 2025 adjusted EBITDA to be at the top end of the $4.65 billion to $4.85 billion range.

Targa Resources Corp. (NYSE:TRGP) also remains committed to its shareholders and revealed that its management intends to recommend a dividend increase to $5 per share annualized for the first quarter of 2026, a 25% rise from its current annualized payout of $3.75 per share.

Targa Resources Corp. (NYSE:TRGP) also received a boost on November 6 when BMO Capital analyst Ameet Thakkar raised the stock’s price target from $185 to $196, and maintained an ‘Outperform’ rating on its shares. The analyst commented that Targa’s impressive performance in the third quarter demonstrates its resilience in the face of lower rig counts and oil prices. He also highlighted that the company’s comments regarding double-digit growth in 2026 and confidence in 2027 may also help bolster investor sentiment, despite a low-priced environment in crude and NGLs.

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Disclosure: None.