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Targa Resources is surging today following the announcement of a significant 20-year agreement with ExxonMobil, which was disclosed late yesterday evening. This strategic deal expands the company's Permian Basin footprint by adding 825 MMcf/d of processing capacity and the development of three new natural gas processing plants. While peers in the midstream sector are also trading higher, Targa's outperformance is driven by this major long-term infrastructure commitment that secures substantial new fee-based capacity through 2046.
That explains the day. Whether TRGP is a business worth owning is a longer question. Koyfin has the ten-year financials, margin history and valuation to answer it — 20% off for WhyTheMove readers.
No significant catalyst events detected.
TRGP moved for a reason you can read above. What the company earns, owns and guides to is a separate record. Koyfin is where the question moves from today's move to the business behind it — analyst estimates, filings and earnings transcripts.
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