Stock market information for Targa Resources Corp (TRGP)
- Targa Resources Corp is a equity in the USA market.
- The price is 170.88 USD currently with a change of -3.93 USD (-0.02%) from the previous close.
- The latest open price was 173.59 USD and the intraday volume is 797239.
- The intraday high is 177.73 USD and the intraday low is 170.71 USD.
- The latest trade time is Monday, June 16, 16:16:24 UTC.
Background
Targa Resources Corp., established in 2005 and headquartered in Houston, Texas, is a leading provider of midstream services in North America. The company specializes in the gathering, compressing, treating, processing, and selling of natural gas, as well as the storage, fractionation, treatment, transportation, and sale of natural gas liquids (NGLs) and NGL products. Additionally, Targa is involved in gathering, storing, terminaling, and selling crude oil. With a diversified portfolio of complementary midstream energy assets, Targa plays a critical role in efficiently and safely delivering energy across the United States and to international markets.
Key Strategic Focus
Targa's strategic focus centers on connecting low-cost commodity supply growth, particularly associated natural gas and NGLs, to key demand markets. The company boasts one of the largest gathering and processing positions in the Permian Basin, providing significant access to NGL supply. Its downstream business is well-connected to the U.S. domestic NGL hub and international demand, with the Grand Prix Pipeline enhancing its capability to transport volumes from gathering and processing through the Targa value chain to end markets. Targa's growth initiatives leverage existing infrastructure to strengthen its competitive advantage and deliver industry-leading returns.
Financials and Funding
As of April 2025, Targa Resources reported annual revenues of approximately $16 billion. The company has demonstrated financial stability and growth potential, with a market capitalization of around $38 billion. In February 2025, Targa raised $2 billion in funding, reflecting strong investor confidence in its operations.
Pipeline Development
Targa has been actively expanding its infrastructure to meet increasing demand. In 2022, the company announced plans to add a new 275 million cubic feet-per-day gas processing plant in the Midland Basin portion of the Permian Basin by the fourth quarter of 2023. This addition complements the four plants already under construction in the region, aimed at servicing rising associated gas production.
Technological Platform and Innovation
Targa's technological platform is characterized by its extensive and strategically located midstream infrastructure. The company's assets are situated in key basins such as the Permian Basin, Bakken Shale, Barnett Shale, Eagle Ford Shale, Anadarko Basin, Arkoma Basin, onshore Louisiana, and the Gulf of Mexico. A notable asset is the Grand Prix Pipeline, which enhances Targa's ability to transport NGLs from gathering and processing facilities to key demand markets. Additionally, Targa holds a leading position in Mont Belvieu, Texas, the NGL hub of North America, and operates world-class LPG export facilities on the Gulf Coast at its Galena Park Marine Terminal.
Leadership Team
- Matthew J. Meloy: Chief Executive Officer and Director.
- Jennifer R. Kneale: President.
- D. Scott Pryor: President of Logistics and Transportation.
- Patrick J. McDonie: President of Gathering and Processing.
- Robert M. Muraro: Chief Commercial Officer.
- William A. Byers: Chief Financial Officer.
- J. Christopher Eklof: Senior Vice President and Chief Accounting Officer.
- Sanjay Lad, C.F.A.: Vice President of Finance and Investor Relations.
- Gerald R. Shrader: Executive Vice President, General Counsel, and Secretary.
- Denny Latham: Executive Vice President of Permian and General Partner.
Leadership Changes
In 2020, Matthew J. Meloy assumed the role of Chief Executive Officer, succeeding Joe Bob Perkins. This transition marked a significant leadership change aimed at steering the company through its next phase of growth and development.
Competitor Profile
Market Insights and Dynamics
The midstream energy sector is integral to the transportation and processing of natural gas and NGLs, serving as a bridge between upstream production and downstream markets. The industry is characterized by substantial infrastructure investments, regulatory considerations, and sensitivity to commodity price fluctuations.
Competitor Analysis
Targa Resources operates in a competitive landscape alongside several key players:
- Williams Companies (NYSE: WMB): A large-cap energy company involved in natural gas processing and transportation.
- Kinder Morgan (NYSE: KMI): Engages in the transportation and storage of natural gas and NGLs.
- Cheniere Energy (NYSE: LNG): Focuses on liquefied natural gas (LNG) production and export.
- Golar LNG (NASDAQ: GLNG): Specializes in LNG shipping and infrastructure.
- Frontline (NYSE: FRO): Operates in the crude oil shipping sector.
- Scorpio Tankers (NYSE: STNG): Involved in the transportation of refined petroleum products.
- Golden Ocean Group (NASDAQ: GOGL): Focuses on dry bulk shipping.
- Teekay Tankers (NYSE: TNK): Operates crude oil tankers.
- SFL Corporation (NYSE: SFL): Engages in the ownership and operation of various shipping assets.
- Teekay Corporation (NYSE: TK): Provides services in the oil and gas shipping industry.
Strategic Collaborations and Partnerships
Targa has engaged in strategic acquisitions to bolster its market position. In 2022, the company acquired Southcross Energy Operating LLC for $200 million, enhancing its operational capabilities. Additionally, Targa announced plans to add a new gas processing plant in the Midland Basin, further expanding its infrastructure to meet rising associated gas production.
Operational Insights
Targa's extensive and strategically located infrastructure provides a competitive advantage in the midstream sector. The company's presence in key basins and its integrated value chain enable efficient transportation and processing of natural gas and NGLs, positioning Targa as a critical link between upstream producers and downstream markets.
Strategic Opportunities and Future Directions
Looking ahead, Targa Resources is poised to capitalize on the growing demand for cleaner fuels and feedstocks. The company's ongoing infrastructure expansions, particularly in the Permian Basin, and its strategic acquisitions position it to enhance service offerings and market reach. By leveraging its existing assets and pursuing growth initiatives, Targa aims to strengthen its market position and deliver value to stakeholders.
Contact Information
- Website: targaresources.com
- LinkedIn: Targa Resources on LinkedIn
