Why Targa Resources Stock Is Rocketing Today

Shares of Targa Resources (NYSE: TRGP) surged 15% by 11:15 a.m. EDT on Thursday. Fueling the midstream company's rally was its solid first-quarter report. 

Targa Resources delivered strong first-quarter results despite all the turbulence in the oil market during that period. Adjusted EBITDA soared 41% year over year to $428 million while distributable cash flow rocketed 61% to $302 million. Fueling that growth was higher volumes thanks in large part to recently completed expansion projects.

Image source: Getty Images.

Continue reading

Source Fool.com