Companies / Energy / TRGP Targa Resources Corp. (TRGP)
Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil. It is involved in the purchase and resale of NGL products; and sale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. The company also leased and owned railcars, tractors, vacuum trucks and pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
Symbol TRGP Exchange NYSE Sector Energy Industry Oil & Gas Midstream Market cap $60.41B 52 week range 144.14 - 307.94 Valuation Share price $281.74 (close of 2026-10-02) P/E (TTM) 26.86x Price to book 15.92x Price to free cash flow 81.54x Enterprise value $79.86B Book value per share $17.70 Price performance Period Change 1 day +0.87% 5 days +1.40% 1 month -3.99% 3 months +8.83% 6 months +15.28% Year to date +52.70% 1 year +73.22% 3 years +237.70% 5 years +454.93% 10 years +473.69% All time +1040.65%
Members of Congress who disclosed TRGP trades Gilbert Ray Cisneros · Lisa McClain
Super investors holding TRGP Bill Nygren (Harris Associates LP) · Ken Griffin (Citadel) · First Eagle Investment (First Eagle Investment Management, LLC)
Profitability and growth Return on equity 60.13% Return on invested capital 13.63% Return on assets 7.63% Return on capital employed 15.37% Gross margin 38.29% Net margin 11.29% EBITDA margin 28.46% Revenue growth 20.45% Net income growth 46.57% Free cash flow growth -14.59% Cash flow and balance sheet Free cash flow yield (TTM) 1.23% Current ratio 0.77x Net debt to EBITDA 3.54x Latest reported year Period end 2025-12-31 Fiscal year 2025 Revenue $17.03B Cost of revenue $10.51B Gross profit $6.52B EBITDA $4.85B Net income $1.92B Earnings per share $8.52 Shares outstanding 216.10M Income statement by year Period end Revenue Gross profit Net income EPS 2025-12-31 $17.03B $6.52B $1.92B $8.52 2024-12-31 $14.14B $3.43B $1.31B $5.77 2023-12-31 $13.52B $2.84B $1.35B $3.69 2022-12-31 $19.82B $2.94B $1.20B $3.95 2021-12-31 $16.09B $2.36B $71.20M $-0.07 2020-12-31 $6.87B $1.69B -$1.55B $-7.26 2019-12-31 $7.40B $2.55B -$209.20M $-1.44 2018-12-31 $9.35B $2.25B $1.60M $-0.53 2017-12-31 $7.80B $1.91B $54.00M $-0.31 2016-12-31 $6.69B $1.77B -$187.30M $-1.80
Margins and returns by year Period end Gross margin Net margin Return on equity Return on capital 2025-12-31 38.29% 11.29% 60.13% 13.63% 2024-12-31 24.29% 9.28% 29.70% 12.47% 2023-12-31 21.04% 9.95% 29.20% 12.95% 2022-12-31 14.83% 6.03% 24.00% 9.78% 2021-12-31 14.69% 0.44% 1.37% 7.18% 2020-12-31 24.55% -22.61% -26.32% -7.62% 2019-12-31 34.50% -2.83% -2.48% 1.18% 2018-12-31 24.02% 0.02% 0.02% 1.67% 2017-12-31 24.47% 0.69% 0.80% -0.52% 2016-12-31 26.42% -2.80% -3.27% 0.54%
Cash and debt by year Period end Cash Debt 2025-12-31 $166.10M $17.43B 2024-12-31 $157.30M $14.17B 2023-12-31 $141.70M $12.95B 2022-12-31 $219.00M $11.54B 2021-12-31 $158.50M $6.60B 2020-12-31 $242.80M $7.76B 2019-12-31 $331.10M $7.82B 2018-12-31 $232.10M $5.63B 2017-12-31 $137.20M $4.70B 2016-12-31 $73.50M $4.61B
Free cash flow by year Period end Free cash flow Stock-based compensation 2025-12-31 $584.10M $69.50M 2024-12-31 $683.90M $63.20M 2023-12-31 $826.20M $62.40M 2022-12-31 $1.05B $57.50M 2021-12-31 $1.80B $59.20M 2020-12-31 $792.90M $66.20M 2019-12-31 -$1.49B $60.30M 2018-12-31 -$1.97B $56.30M 2017-12-31 -$358.00M $42.30M 2016-12-31 $275.30M $29.70M
Dividend history Most recent payment 2026-07-31 Paid in the last twelve months $4.50 Payment date Dividend per share 2026-07-31 $1.25 2026-04-30 $1.25 2026-01-30 $1.00 2025-10-31 $1.00 2025-07-31 $1.00 2025-04-30 $1.00 2025-01-31 $0.75 2024-10-31 $0.75
Investor relations Next earnings report Next confirmed report 2026-11-04 Consensus EPS estimate $2.66 Past earnings dates Reported Fiscal period EPS estimate 2026-08-06 Jun/2026 $2.83 2026-05-07 Mar/2026 $2.55 2026-02-19 Dec/2025 $2.39 2025-11-05 Sep/2025 $2.23 2025-08-07 Jun/2025 $1.91 2025-05-01 Mar/2025 $2.04 2025-02-20 Dec/2024 $1.88 2024-11-05 Sep/2024 $1.58
Filings and sources Company website targaresources.com SEC filings 10-K, 10-Q and 8-K on EDGAR Earnings calendar All upcoming reports Similar companies ONEOK Inc (OKE) · Kinder Morgan, Inc. (KMI) · Viper Energy, Inc. (VNOM) · Energy Transfer LP (ET) · Williams Companies, Inc. (WMB) · Valero Energy Corp (VLO) · Marathon Petroleum Corp (MPC) · BP plc (BP)
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