Targa Resources Inc
- Industry
- Energy Infrastructure
- Exchange
- US
- Country
- USA
- IPO date
- Dec 7, 2010
- Employees
- 3,570
- Website
- www.targaresources.com
Composite valuation range · conservative $220–$260 / fair $300–$360 / optimistic $420–$480. At $267.64, Between the conservative and fair ranges.
At publication $276.75 (May 26, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
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.
History
Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas, and the company went public in an IPO on December 7, 2010. It has grown into a wellhead-to-water midstream operator built around integrated Permian and Mont Belvieu/Galena Park assets. Since 2020 the company has returned about $4.7 billion to shareholders and repurchased roughly 11% of its shares, with buybacks of about $374 million in 2023, $755 million in 2024 and $642 million in 2025. In 2026 it raised its quarterly dividend from $1.00 to $1.25 per share, or $5.00 per share annualized.
Industry position
Targa Resources operates two segments, Gathering and Processing and Logistics and Transportation, and describes itself as the largest natural gas gatherer and processor in the Permian with the fastest-growing NGL footprint at Mont Belvieu. Its NGL pipeline can deliver more than 1 million barrels per day to Mont Belvieu, combined Mont Belvieu and Lake Charles fractionation is about 1.138 million barrels per day, and international export capacity of roughly 14 million barrels per month can rise to 19 million after the GPMT expansion. The investment-grade (BBB/Baa2/BBB) company employs 3,570 people and posted 2025 revenue of $170.28 billion and Adjusted EBITDA of $4.957 billion, with peers cited including Williams, Kinder Morgan, ONEOK, MPLX and Energy Transfer.