Targa Resources
Targa Resources Corp. is a leading provider of midstream energy services in North America, specializing in the gathering, compressing, treating, processing, and selling of natural gas. The company also provides a comprehensive suite of services for natural gas liquids (NGLs) and NGL products, including fractionation, storage, terminaling, and marketing.
Financials
Based on Q1 2026 filing
Revenue
View metricGross Profit
View metricNet Income
View metricOperating Cash Flow
View metricFree Cash Flow
View metricEPS (Diluted)
View metricBusiness Segments
Gathering and Processing
primaryThis segment focuses on gathering natural gas produced from oil and gas wells and processing it into merchantable natural gas by removing impurities and extracting NGLs. It operates primarily in shale plays and resource-rich basins.
Natural Gas Gathering, Natural Gas Processing, Residue Gas, Raw NGL Mix
Upstream Oil and Gas Producers, Energy Marketers
Logistics and Transportation
majorThis segment involves the transport, fractionation, storage, and terminaling of NGLs and NGL products. It provides the critical infrastructure to move NGLs from processing plants to end-use markets and export facilities.
NGL Fractionation, NGL Storage, LPG Export Services, Pipeline Transportation
Petrochemical Companies, Refiners, Propane Retailers, International Export Customers
Segment Financials
Gathering And Processing — Revenue
View metricGathering And Processing — Segment Operating Margin
View metricNGL Transportation Fractionation And Services — Revenue
View metricLogistics And Transportation — Revenue
View metricStorage Terminaling And Export — Revenue
View metricBusiness Overview
Competitive Position
Targa is one of the largest independent midstream infrastructure companies in North America with a dominant position in the Permian Basin and a significant NGL export footprint.
Geographies
United States, North America
Customer Segments
Upstream Producers, Industrial Manufacturers, Petrochemical Refiners, Global Energy Traders
Upstream Dependencies
Exploration and Production (E&P) activity, Steel and pipeline equipment manufacturers, Field service providers
Downstream Customers
Petrochemical plants, Power generation facilities, Residential and commercial heating distributors, International LPG importers
Competitors & Partners
Competitors
Partners
Blackstone
BX
Joint venture partner in midstream infrastructure projects
Stonepeak Infrastructure Partners
Joint venture partner in pipeline and fractionation assets
Subsidiaries
Targa Resources Partners LP
Primary operating subsidiary for midstream assets
Lucid Energy Group
Acquired natural gas gathering and processing company in the Delaware Basin
Targa Resources FAQ
Common questions about Targa Resources
Targa Resources Corp. is a leading provider of midstream energy services in North America, specializing in the gathering, compressing, treating, processing, and selling of natural gas. The company also provides a comprehensive suite of services for natural gas liquids (NGLs) and NGL products, including fractionation, storage, terminaling, and marketing.
Targa Resources (TRGP) has a market capitalization of $54.8B and trades on NYSE.
Targa Resources generated $16.6B in trailing twelve-month revenue with net income of $2.1B, representing a net margin of 12.9%. Gross margin stands at 41.8%, with free cash flow of $261.9M. These figures are based on the Q1 2026 filing.
Targa Resources's key competitors include ONEOK, Inc., Enterprise Products Partners L.P., Energy Transfer LP, and others. These companies compete in similar markets and product categories.
Targa Resources has approximately 3,186 employees.