Targa Resources Corp. (TRGP) P/E Ratio History
Fairly ValuedTrading at 32.1x, near 5Y avg of 33.4x · 65th percentile · In line with own history · Data 2011–2026
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P/E Ratio Analysis
As of July 8, 2026, Targa Resources Corp. (TRGP) trades at a price-to-earnings ratio of 32.1x, with a stock price of $273.81 and trailing twelve-month earnings per share of $9.88.
The current P/E is roughly in line with its 5-year average of 33.4x. Over the past five years, TRGP's P/E has ranged from a low of 18.8x to a high of 76.9x, placing the current valuation at the 65th percentile of its historical range.
Compared to the Energy sector median P/E of 16.0x, TRGP trades at a 101% premium to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.5x to 158.7x.
Relative to the broader market, TRGP commands a significant premium over the S&P 500 median P/E of 25.9x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our TRGP DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
TRGP Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
TRGP P/E vs Peers
Gas Gathering, Processing and NGLs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $18B | 14.9 | 0.73 | -25% | |
| $25B | 14.5 | 0.41Best | +49% | |
| $13B | 83.5 | 5.31 | -66% | |
| $8B | 13.7 | 0.81 | +15% | |
| $58B | 11.9Lowest | - | +14% | |
| $11B | 26.4 | - | +4% | |
| $81B | 14.2 | 1.53 | -1% | |
| $68B | 14.7 | - | +5% | |
| $5B | 18.8 | - | +152%Best | |
| $57B | 16.7 | 0.54 | +5% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
TRGP Historical P/E Data (2011–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $250.73 | $9.82 | 25.5x | -58% |
| FY2025 Q4 | Dec 31 2025 | $184.50 | $8.52 | 21.7x | -64% |
| FY2025 Q3 | - | $167.54 | $7.44 | 22.5x | -63% |
| FY2025 Q2 | Jun 30 2025 | $174.08 | $6.99 | 24.9x | -59% |
| FY2025 Q1 | Mar 31 2025 | $200.47 | $5.44 | 36.8x | -39% |
| FY2024 Q4 | - | $178.50 | $5.75 | 31.0x | -49% |
| FY2024 Q3 | Sep 30 2024 | $148.01 | $5.55 | 26.7x | -56% |
| FY2024 Q2 | Jun 30 2024 | $128.78 | $4.77 | 27.0x | -55% |
| FY2024 Q1 | Mar 31 2024 | $111.99 | $4.87 | 23.0x | -62% |
| FY2023 Q4 | Dec 31 2023 | $86.87 | $3.68 | 23.6x | -61% |
| FY2023 Q3 | Sep 30 2023 | $85.72 | $3.84 | 22.3x | -63% |
| FY2023 Q2 | Jun 30 2023 | $76.10 | $3.71 | 20.5x | -66% |
| FY2023 Q1 | Mar 31 2023 | $72.95 | $3.88 | 18.8x | -69% |
| FY2022 Q4 | Dec 31 2022 | $73.50 | $3.91 | 18.8x | -69% |
| FY2022 Q3 | Sep 30 2022 | $60.34 | $1.03 | 58.4x | -3% |
| FY2022 Q2 | - | $59.67 | $0.78 | 76.9x | +28% |
| FY2021 Q3 | - | $49.21 | $1.18 | 41.7x | -31% |
| FY2021 Q2 | Jun 30 2021 | $44.45 | $0.76 | 58.7x | -3% |
| FY2021 Q1 | Mar 31 2021 | $31.75 | $0.82 | 38.9x | -36% |
| FY2018 Q3 | Sep 30 2018 | $56.31 | $1.13 | 49.8x | -17% |
| FY2018 Q2 | Jun 30 2018 | $49.49 | $0.46 | 107.6x | +78% |
| FY2018 Q1 | Mar 31 2018 | $44.00 | $0.25 | 176.0x | +192% |
| FY2016 Q3 | Sep 30 2016 | $49.11 | $0.09 | 526.9x | +774% |
| FY2016 Q2 | - | $42.14 | $0.55 | 76.2x | +26% |
| FY2016 Q1 | - | $29.86 | $0.96 | 31.0x | -49% |
| FY2015 Q4 | - | $27.06 | $1.05 | 25.8x | -57% |
| FY2015 Q3 | Sep 30 2015 | $51.52 | $1.18 | 43.7x | -28% |
| FY2015 Q2 | - | $89.22 | $1.68 | 53.1x | -12% |
| FY2015 Q1 | - | $95.79 | $2.04 | 47.0x | -22% |
| FY2014 Q4 | Dec 31 2014 | $106.05 | $2.44 | 43.5x | -28% |
| FY2014 Q3 | - | $136.17 | $2.31 | 58.9x | -2% |
| FY2014 Q2 | Jun 30 2014 | $139.57 | $1.97 | 70.8x | +17% |
| FY2014 Q1 | Mar 31 2014 | $99.26 | $1.70 | 58.4x | -3% |
| FY2013 Q4 | - | $88.17 | $1.55 | 56.9x | -6% |
| FY2013 Q3 | Sep 30 2013 | $72.96 | $1.34 | 54.4x | -10% |
| FY2013 Q2 | Jun 30 2013 | $64.33 | $1.16 | 55.5x | -8% |
| FY2013 Q1 | Mar 31 2013 | $67.96 | $1.01 | 67.3x | +12% |
| FY2012 Q4 | Dec 31 2012 | $52.84 | $0.92 | 57.4x | -5% |
| FY2012 Q3 | Sep 30 2012 | $50.34 | $0.85 | 59.2x | -2% |
| FY2012 Q2 | Jun 30 2012 | $42.70 | $0.76 | 56.2x | -7% |
| FY2012 Q1 | Mar 31 2012 | $45.45 | $0.80 | 56.8x | -6% |
| FY2011 Q4 | Dec 31 2011 | $40.69 | $0.73 | 55.7x | -8% |
| FY2011 Q3 | Sep 30 2011 | $29.75 | $0.34 | 87.5x | +45% |
Average P/E for displayed period: 60.3x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
15+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
TRGP — Frequently Asked Questions
Quick answers to the most common questions about buying TRGP stock.
What is TRGP's P/E ratio?
Targa Resources Corp. (TRGP) trailing twelve-month P/E ratio is 32.1x, based on TTM diluted EPS of $9.88. The 5-year average P/E is 33.4x and the historical range spans 18.8x to 76.9x.
Is TRGP stock overvalued or undervalued?
TRGP trades at 32.1x P/E, near its 5-year average of 33.4x. The 65th percentile ranking within the 18.8x–76.9x historical range places valuation within normal bounds.
Is TRGP stock expensive?
TRGP is fairly valued relative to its own history. The current P/E of 32.1x is near the 5-year average of 33.4x (65th percentile of historical range).
What is TRGP's historical P/E range?
Over the past 5 years, TRGP's P/E ratio has ranged from 18.8x to 76.9x, with a median of 26.7x and an average of 33.4x. The current P/E of 32.1x places the stock at the 65th percentile of this range. Full historical data spans 2011–2026.
How does TRGP's P/E compare to the S&P 500?
TRGP trades at 32.1x P/E versus the S&P 500 median of 25.9x. The 24% premium to the market typically reflects higher expected earnings growth or quality.
How does TRGP's valuation compare to Energy peers?
Targa Resources Corp. P/E of 32.1x compares to the Energy sector median of 16.0x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is TRGP's PEG ratio?
TRGP PEG ratio is N/A, based on a P/E of 32.1x and EPS growth of 48.4%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is TRGP's earnings yield?
TRGP earnings yield is 3.11%, the inverse of its 32.1x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.