Targa Resources Drops 5%, Shedding ~$3 Billion in One Session
As seen on the 24/7 Wall St. homepage on October 22, 2026.
A 4.99% slide to $283.10 takes roughly $3 billion off a $60.7 billion midstream name that rarely moves this hard in a single session. Whether it holds this level into the close is the thing to track.
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Targa Resources slid to $283.10 by mid-afternoon, a decline of nearly 5% that erased roughly $3 billion in market value in a single session.
A single-session drop of this magnitude is uncommon for a midstream name of Targa's size and profile, where day-to-day price swings tend to be modest compared with smaller, more volatile energy companies.
The bulk of the damage came in the opening hour, and the selling resumed later in the day rather than fading out.
Whether the stock finds support near current levels before the close is the key question for investors watching the position. A failure to hold the $282 to $283 range would signal continued selling pressure.
Sources
Mentioned: TRGP