Targa Resources (TRGP)
Moves Permian natural gas and NGLs from gathering systems to Gulf Coast fractionation and exports.
Something off on this page? Send us feedback.
Connects Permian and other U.S. production to market by gathering and processing natural gas and crude oil, then transporting, fractionating, storing, marketing, and exporting NGLs. An integrated wellhead-to-Gulf Coast network earns primarily fee-based downstream revenue while retaining producer-activity and commodity-price exposure.
Connects oil and gas production to domestic and export markets through its Gathering and Processing and Logistics and Transportation segments. Gathering and Processing collects, compresses, treats, and processes natural gas, extracts NGLs, and gathers crude oil across the Permian and other U.S. basins. Logistics and Transportation moves mixed NGLs through Grand Prix and Daytona to Mont Belvieu, fractionates them into products, provides storage and terminaling, markets natural gas and NGLs, and loads LPG exports at Galena Park.
Combines a dense Permian gathering footprint with pipelines, fractionation, storage, and Gulf Coast export infrastructure, allowing volumes to move from the wellhead through downstream markets. Most downstream contracts are fee-based, while gathering agreements also include percent-of-proceeds exposure. Throughput depends on producer drilling and connected-well output; results also remain exposed to commodity prices, project execution, environmental and pipeline regulation, and international LPG demand.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Truist Financial | Target | Target: $289 | Target: $345 |
| Sep 18, 2026 | Cowen & Co. | Upgrade | ||
| Sep 18, 2026 | TD Cowen | Upgrade | ||
| Sep 16, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $343 | Target: $359 |
| Sep 11, 2026 | Mizuho Securities | Target | Target: $300 | Target: $320 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $132.3M · Total debt $20.14B · Total assets $28.52B · Shareholders' equity $3.66B
- Revenue
- $4.44B
- Operating income
- $1.23B
- Net income
- $764.6M
HistoryDividendAnnual yield
| Institutions | 96.23% | 206.34M shares | |
|---|---|---|---|
| 1,132 holders · as of Jun 30, 2026 | |||
| Insiders | 1.03% | 2.21M shares | |
| 22 holders · as of Sep 8, 2026 | |||
| Other | 2.74% | 5.88M shares | |
| remainder | |||
214.43M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 9.72% | 20.83M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.63% | 14.23M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 6.61% | 14.18M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.54% | 14.02M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.46% | 11.70M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 1, 2026 | Paul W. Chung | director | −1,816 | $296.11 |
| Aug 25, 2026 | Charles R. Crisp | director | −3,000 | $290.23 |
| Aug 21, 2026 | Waters S. IV Davis | director | −2,400 | $299.67 |
| May 12, 2026 | Charles R. Crisp | director | −10,602 | $255.96 |
| Mar 5, 2026 | Robert Muraro | officer: Chief Commercial Officer | −24,589 | $241.34 |
- Enterprise Products Partners
Integrated NGL chain from Permian wellhead to Gulf Coast export, larger scale.
- Energy Transfer
Diversified midstream rival in Permian G&P, fractionation, and NGL export.
- MPLX
Expanding Permian-to-Gulf Coast NGL chain that mirrors Targa's integrated model.
- ONEOK
NGL pipeline and fractionation rival routing Permian volumes to Mont Belvieu.
- Western Midstream Partners
Delaware Basin G&P rival contesting Permian producer acreage dedications.
- Kinetik
Pure-play Delaware Basin G&P rival; 2.2 Bcf/d in Texas and New Mexico.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Targa Resources | $292.85 | +1.20% | $62.11B | 27.6 | 26.0 | 3.7 | +10.3% |
| Enterprise Products Partners | $38.60 | +0.34% | $83.23B | 13.4 | 12.6 | 1.4 | +60.8% |
| Energy Transfer | $20.92 | +0.10% | $71.92B | 13.0 | 12.8 | 0.7 | +78.4% |
| MPLX | $59.66 | +0.96% | $59.96B | 12.7 | 13.0 | 4.7 | +10.6% |
| ONEOK | $92.57 | +0.83% | $57.85B | 15.8 | 15.6 | 1.5 | +52.8% |
| Western Midstream Partners | $46.83 | +0.55% | $19.25B | 14.6 | 12.2 | 4.4 | +30.0% |
| Kinetik | $53.68 | +0.83% | $3.92B | 19.3 | 31.6 | 2.1 | +36.3% |
| Median | 14.0 | 12.9 | 1.8 | +44.5% |