Targa Resources Corp. (TRGP) Fair Value 2026

TRGP · Oil & Gas Midstream ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

8.2 /10

32 fundamental signals · 7 models active

Value Trap Risk

SAFE (0/100)

Quick Summary — As of 2026-08-27, Targa Resources Corp. (TRGP) trades at $288.95, versus a $125.88 median fair value across its 7 active models — 56.4% below the current price. QOC: 8.2/10. Value Trap Risk: 0/100 (SAFE). 7/13 models active.

Key Facts

Ticker
TRGP
Price
$288.95
Quality Score
8.2/10
Value Trap Risk
0/100
Models Active
7/13
Last Updated
Strength: Quality Score of 8.2/10 indicates strong fundamentals
Risk: Majority of models suggest overvaluation

Is Targa Resources Corp. (TRGP) Undervalued or Overvalued in 2026?

According to CirclFi’s 7-model valuation engine, Targa Resources Corp. (TRGP) appears overvalued as of : the median of 7 independent fair value estimates is $125.88, 56.4% below the current price of $288.95. Estimates range from $40.56 to $206.47. TRGP scores 8.2/10 on fundamental quality and 0/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. TRGP’s -56.4% gap is wider than that market norm, and the Oil & Gas Midstream sector median is -9.8%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Targa Resources Corp. Stock in 2026? →

What Fair Value Does Each Model Give TRGP?

7 Intrinsic Value Models vs. Current Price ($288.95)

Core Models (Unlocked)
Model Fair Value Upside
Ensemble · Low Conviction
 $125.88 -56.4%
Intrinsic · High Conviction
 $40.56 -86.0%
Intrinsic · High Conviction
 $206.04 -28.7%
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What Is TRGP's Fair Value Range?

Spread across 7 independent models · $40.56 to $206.47

CirclFi's 7 active models place Targa Resources Corp. (TRGP) between $40.56 and $206.47 per share, a spread of 132% of the median. The median of that range — $125.88 — is the fair value CirclFi publishes for TRGP, against a current price of $288.95.

Low · EROICHigh · Regime Cross
$40.56median $125.88$206.47
Where the range comes from
Most bearish modelEROIC Spread$40.56
Most bullish modelRegime Cross-Sectional$206.47
Model agreement0 bullish · 7 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for TRGP. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on TRGP, not a CirclFi price target. How each model works →

What Is Targa Resources Corp. (TRGP) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, Targa Resources Corp.'s intrinsic value is estimated at $125.88, suggesting the stock is overvalued at its current price of $288.95. With 7 out of 7 models flagging downside (-56.4% vs price), the market may be pricing in unsustainable growth. Model dispersion is worth noting: Regime Cross targets $206.47 (-28.5%), versus EROIC at $40.56 (-86.0%). This +57.4% range highlights the importance of multi-model analysis rather than relying on any single methodology.

What Do the Models Say About TRGP?

7 of 13 models are currently active for TRGP. All 7 active models suggest the stock trades above fair value. Taken together, their median fair value for TRGP is $125.88 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does TRGP Rank in Oil & Gas Midstream?

Among 53 Oil & Gas Midstream stocks, TRGP ranks #15 by Quality of Company score. CirclFi's QOC score of 8.2/10 evaluates 32 fundamental signals. A score of 8.2 places TRGP in the top tier.

See all Most Undervalued Oil & Gas Midstream Stocks →

As a energy producer, Targa Resources Corp. operates in a sector where reserve replacement ratio is a critical driver of valuation. Investors evaluating TRGP should weigh these sector-specific dynamics alongside our model-derived fair values.

Is TRGP a Value Trap?

CirclFi's Value Trap algorithm assigns TRGP a score of 0/100 (SAFE). This indicates minimal risk. Fundamentals are healthy. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

7 of 13 models are active for Targa Resources Corp.. Moderate coverage provides meaningful perspective. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi 32-factor quality framework, Targa Resources Corp.'s fundamental quality profile registers 8.2/10. This robust score captures the company's profitability depth, growth consistency, balance sheet resilience, and shareholder return track record.

The gap between the most bullish and bearish model spans +57.4% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every TRGP valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across TRGP's 7 active models, average confidence is 40%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Targa Resources Corp. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Oil & Gas Midstream Stocks Should You Also Analyze?

10 related Oil & Gas Midstream stocks with 13-model coverage

KMIKinder Morgan, Inc.QOC 8.3PBAPembina Pipeline CorporationQOC 8.1SOBOSouth Bow CorporationQOC 8.3DHTDHT Holdings, Inc.QOC 8.1OKEONEOK, Inc.QOC 8.3IMPPImperial Petroleum Inc.QOC 8.1GLPGlobal Partners LPQOC 7.6SUNCSunocoCorp LLCQOC 5.8HESMHess Midstream LPQOC 9.2FLNGFLEX LNG Ltd.QOC 9.0

Read investment analysis: KMI · PBA · SOBO · DHT · OKE · IMPP · GLP · SUNC · HESM · FLNG

Which Other Stocks Have a Similar Quality Score to TRGP?

7 companies across all industries closest to TRGP’s Quality of Company score of 8.2/10.

WLFCWillis Lease Finance CorporationQOC 8.2WHGWestwood Holdings Group, Inc.QOC 8.2RBARB Global, Inc.QOC 8.2CCUCompañía Cervecerías Unidas S.A.QOC 8.2SBFGSB Financial Group, Inc.QOC 8.2APLEApple Hospitality REIT, Inc.QOC 8.2NVDANVIDIA CorporationQOC 10.0

Read investment analysis: WLFC · WHG · RBA · CCU · SBFG · APLE · NVDA

Where Does TRGP Sit in CirclFi's Oil & Gas Midstream Rankings?

TRGP is ranked against every other Oil & Gas Midstream stock CirclFi covers in each of these screens.

See all Oil & Gas Midstream stocks ranked →

What Else Do Investors Ask About Targa Resources Corp.’s Valuation?

What is Targa Resources Corp.'s intrinsic value in 2026?

CirclFi puts Targa Resources Corp. (TRGP)'s intrinsic value at $125.88 — the median of 7 independent model estimates as of 2026-08-27, ranging from $40.56 to $206.47. The Quality of Company score is 8.2/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is TRGP overvalued or undervalued right now?

At $288.95, 0 of 7 active models suggest TRGP may be undervalued, while 7 indicate potential overvaluation. The median of all 7 fair value estimates is $125.88, 56.4% below the current price of $288.95 — a consensus view that TRGP is overvalued. The assessment depends on which methodology best fits Targa Resources Corp.'s business model in Oil & Gas Midstream.

What does a Quality of Company score of 8.2 mean for TRGP?

Targa Resources Corp.'s QOC of 8.2/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores above 7 indicate strong fundamentals and disciplined management.

How many valuation models does CirclFi run on TRGP?

CirclFi analyzes TRGP with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 7 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on TRGP?

Of the 7 models currently active on TRGP, Regime Cross-Sectional is the most bullish at $206.47 per share, and EROIC Spread is the most bearish at $40.56. CirclFi's published fair value for TRGP is the median of that range, $125.88, not either extreme. The gap between the two ends equals 132% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is TRGP a value trap in 2026?

Targa Resources Corp.'s Value Trap score is 0/100 (SAFE). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap.

Cite this analysis — “According to CirclFi’s 7-model valuation engine, Targa Resources Corp. (TRGP) has a median fair value of $125.88 — 56.4% below the current price of $288.95 — as of 2026-08-27.” Source: circlfi.com/stock/TRGP/ · Methodology
Primary sources for this TRGP valuation
  • Financial statements: Targa Resources Corp. 10-K and 10-Q filings on SEC EDGAR (CIK 0001389170) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for TRGP as of ; valuations recomputed .

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