Targa Resources Corp. (TRGP)

In the past six months, Targa Resources Corp. stock has experienced a slight decrease of -1.88% to -1.70%. However, looking at a broader timeframe, the share price increased by 35.41% from June 28, 2024, to June 27, 2025, and showed a 32.87% return over the last year. Recent positive developments impacting the stock include the company reporting record fourth quarter and full-year 2024 financial results, with adjusted EBITDA reaching $4.1 billion for 2024, a 17% increase from 2023. In the first quarter of 2025, Targa reported record financial results, with adjusted EBITDA increasing by 22% year-over-year to $1.2 billion. The company also announced a 33% rise in its annual common dividend to $4.00 per share and repurchased $214 million of common shares through April 2025. In January 2025, Scotiabank initiated coverage of Targa Resources with a Sector Outperform recommendation. In June 2025, Targa Resources Corp. priced a $1.5 billion offering of senior notes.

Demand for Targa Resources Corp.'s products and services, particularly in its wholesale domestic propane marketing business, is significantly influenced by seasonality and weather conditions, with demand typically higher in the winter. This seasonal demand can impact the price and volume of propane sold. The company's LPG export volumes have also benefited from improved market conditions and increased seasonal optimization opportunities. Additionally, forward prices for natural gas at the Waha Hub are anticipated to recover slightly in the fourth quarter, partly due to demand seasonality.

Targa Resources Corp. operates within the Utilities and Energy sectors, specifically in the Natural Gas Utilities and Oil & Gas Midstream industries. The company's core business involves providing essential midstream services, encompassing the gathering, compressing, treating, processing, transporting, purchasing, and selling of natural gas. Targa also handles the transportation, storage, fractionation, treating, and marketing of natural gas liquids (NGLs) and NGL products, including services for liquefied petroleum gas (LPG) exporters. Additionally, it is involved in gathering, storing, terminaling, and purchasing and selling crude oil. Targa's operations are divided into two primary segments: Gathering and Processing, and Logistics and Transportation.

Targa Resources Corp. owns and operates a diversified portfolio of domestic midstream infrastructure assets across the United States. Its major operational areas and asset locations include the Permian Basin, the Eagle Ford Shale, the Barnett Shale, the Anadarko, Ardmore, and Arkoma Basins in Oklahoma, the Williston Basin in North Dakota, and the onshore and near offshore regions of the Louisiana Gulf Coast. Key projects and assets include expansive gas gathering networks, processing plants, the Grand Prix NGL Pipeline, and Badlands operations.

Targa Resources Corp. has demonstrated a commitment to sustainability, which positively contributes to its brand reputation. In its 2021 Sustainability Report, the company highlighted a 12% reduction in scope 1 plus scope 2 greenhouse gas (GHG) intensity and a 40% reduction in flaring volumes from emissions events. Targa also reported exporting approximately 4.9 billion gallons of liquefied petroleum gas (LPG) globally in 2021, which can offset higher GHG-emitting fuels. The company completed aerial methane detection on 13,000 miles of pipelines and 162 surface facilities in the Permian Basin. Furthermore, Targa decreased its preventable vehicle accident rate by 31% and received the International Liquid Terminals Association (ILTA) safety excellence award for the second consecutive year.

Targa Resources Corp. has a significant institutional ownership, with approximately 79.21% to 89.75% of the company's stock held by institutional shareholders. Individual investors hold approximately 1.57% to 19.29% of the stock, while insiders hold around 1.50% to 21.97%. Warburg Pincus Private Equity VIII LP is noted as the largest individual Targa Resources shareholder, owning 16.53 million shares, representing 7.62% of the company.