Basis: FMP quote price / unrounded FMP forward EPS in the trading currency, available after its recorded retrieval time. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 25.66 as of 2026-09-22T00:16:31.198Z.
Consensus retrieved: 2026-09-13T23:59:04.449Z. This records retrieval, including cache reads, rather than vendor publication. The calculation uses the separately dated price and estimate available at its as-of time.
Calculation as of: 2026-09-22T00:16:31.198Z.
Quote observation: 2026-09-21T20:00:03.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 4c22e45dadadc27878a3237a20575dce780364b56c4cf1ed7ebd5eb5bcd6486f
Forward PE Ratio (25.66) = Dated Quote Price ($289.36) / Consensus Forward EPS ($11.28)
FORWARD PE RATIO
25.66
SECTOR MEDIAN · ENERGY
12.82
median of 39 covered companies
CURRENT VS SECTOR MEDIAN
+100.16%
vs the sector median at left
Targa Resources Corp.
Market Cap
$62.11B
Forward PE Ratio
25.66
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Targa Resources Corp. (TRGP) | $62.11B | 25.66 |
| TC Energy Corporation (TRP)vs › | $62.96B | N/A |
| MPLX Lp (MPLX)vs › | $59.96B | 13.79 |
| ONEOK, Inc. (OKE)vs › | $57.85B | 16.07 |
| Baker Hughes Company (BKR)vs › | $57.41B | 22.00 |
| Occidental Petroleum Corporation (OXY)vs › | $56.94B | 9.08 |
| Kinder Morgan, Inc. (KMI)vs › | $70.63B | 20.74 |
| Diamondback Energy, Inc. (FANG)vs › | $53.24B | N/A |
| Devon Energy Corporation (DVN)vs › | $52.35B | 9.30 |
| Energy Transfer LP (ET)vs › | $71.92B | 12.33 |
Trailing P/E
27.6
reported TTM EPS
Forward P/E
25.7
consensus EPS · fiscal year ending 2026-12-31
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $11.28 implies +7.4% EPS growth vs the reported trailing $10.50.
At the dated quote price of $289.36, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $11.28 | $10.94 – $11.71 | 10 | 25.7x |
| 2027-12-31 | $12.28 | $11.01 – $13.94 | 10 | 23.6x |
| 2028-12-31 | $14.84 | $12.85 – $18.23 | 13 | 19.5x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
