Targa Resources gains on Q3 core profit beat

Shares of pipeline operator Targa Resources TRGP.N up ~5% at $162.25

Co beat Q3 adjusted core profit estimates, helped by record natural gas and liquids volume from the Permian Basin

Co expects full-year adjusted core profit around the top end of its $4.65 billion to $4.85 billion range

Co reports adjusted core profit of $1.27 billion vs estimates of $1.21 billion - data compiled by LSEG

TRGP announces construction of a 275 million cfpd natural gas processing plant in the Permian Delaware in New Mexico

Operations expected to begin in the first quarter of 2027

Including session's moves, TRGP down 8.9% YTD