Targa Resources Corp. (TRGP)

Over the past six months, Targa Resources Corp.'s stock price has experienced a decline. Key events impacting the stock include strong financial performance with record adjusted EBITDA, dividend increases and share repurchases, and growth projects like the Delaware Express pipeline and Train 12 fractionator. The company also experienced weather-related headwinds in Q1 2025. As of October 28, 2025, Targa Resources has a consensus rating of "Moderate Buy" from brokerages.

While Targa Resources has a largely fee-based business model, certain aspects of their business, particularly natural gas processing and NGL business lines, can be influenced by commodity price fluctuations. Demand for natural gas increases during the winter and summer, while propane demand sees an uptick in September/October and throughout the winter. Gasoline demand typically rises during the summer driving season. Targa's overall performance remains susceptible to changes in natural gas, NGL, and crude oil prices.

Targa Resources Corp. is a leading North American midstream energy infrastructure company based in Houston, Texas, recognized as a Fortune 500 company and included in the S&P 500. It operates in the Utilities sector, providing diversified midstream services such as gathering, compressing, treating, processing, transporting, and selling natural gas. Targa also handles NGLs and crude oil, with operations divided into Gathering and Processing, and Logistics and Transportation.

Targa Resources' operations are predominantly located in key producing regions across the United States, with a significant presence on the Gulf Coast, particularly in Texas and Louisiana. The company has extensive infrastructure in major shale plays, including the Permian Basin, Stack, Scoop, and Bakken. Targa also has substantial fractionation capacity at Mont Belvieu, Texas, and operates LPG export facilities at its Galena Park Marine Terminal on the Gulf Coast.

In the past year, Targa Resources has focused on its sustainability efforts, releasing its 2024 Sustainability Report in September 2025, emphasizing its role in safely delivering energy and its integrated infrastructure. Its strong financial performance and significant growth projects contribute positively to its reputation within the industry.

Targa Resources Corp. has significant institutional ownership, ranging from approximately 61.76% to 73.45% of its stock. Major institutional shareholders include Vanguard Group Inc, BlackRock, Inc., and Wellington Management Group Llp. Individual insiders hold a smaller portion, around 1.42% to 1.49% of the company's stock.