Business Description

Targa Resources Inc., founded in 2008 and headquartered in Houston, Texas, is a diversified midstream energy company that provides natural gas processing, NGL fractionation, and pipeline transportation services. The firm generates fee‐based revenues through long-term contracts with over 100 producers in regions such as the Permian Basin and Eagle Ford. Under the leadership of CEO Brian Sawyer since 2017, Targa maintains an estimated market share of 10-15% and is focused on strategic asset expansion and technology investments to drive future growth.

Everything on Targa Resources Inc.

Revenue (FY2025) $17.03B
YoY growth +3.9%
Operating margin 19.6%
Direction Expanding
Gross margin 30.7%
Net margin 11.5%

Earnings Transcripts

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Leadership & board

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Targa Resources acquires Atlas Pipeline Partners, L.P. and Atlas Energy, L.P. — Gathering and Processing / Logistics and Transportation · 2015 View full deal ↗ Targa Resources acquires Lucid Energy Delaware, LLC ("Lucid Energy") — Gathering and Processing · 2022 View full deal ↗ Targa Resources acquires Targa Badlands LLC - Blackstone's 45% interest ("Badlands Transaction") — Gathering and Processing · 2025 View full deal ↗ Targa Resources acquires Stakeholder Midstream, LLC — Gathering and Processing · 2026 View full deal ↗ Targa Resources acquires Grand Prix NGL Pipeline - Blackstone Energy Partners' 25% interest ("Grand Prix Transaction") — Logistics and Transportation · 2023 View full deal ↗ Targa Resources acquires Development company joint venture ("DevCo JV") interests held by Stonepeak Partners LP affiliates — Logistics and Transportation (NGL pipeline, fractionation and GCX equity interest) · 2022 View full deal ↗ Targa Resources acquires Outrigger Delaware Operating, LLC, Outrigger Southern Delaware Operating, LLC and Outrigger Midland Operating, LLC ("Outrigger Permian") — Gathering and Processing · 2017 View full deal ↗ Targa Resources acquires Delaware Basin sour gathering and compression assets (two bolt-on transactions; sellers not disclosed) — Gathering and Processing · 2025 View full deal ↗ Targa Resources acquires Southcross Energy Operating LLC and its subsidiaries ("Southcross" / "South Texas Acquisition") — Gathering and Processing · 2022 View full deal ↗ Targa Resources acquires Dovetail Midstream, LLC — Gathering and Processing View full deal ↗ Targa Resources acquires Cedar Bayou Fractionators, L.P. - remaining 12% membership interest ("CBF Acquisition") — Logistics and Transportation · 2024 View full deal ↗ Targa Resources acquires Nile Midstream, LLC and Four Winds Midstream, LLC ("Nile Acquisition") — Gathering and Processing View full deal ↗

Share Repurchase Program

Total authorized
$1.0 billion (2024 program) plus $1.0 billion (2025 program)
Remaining (as of March 31, 2026)
$1,318.6 million
Latest FY repurchased
$641.8 million

Customer Concentration

During the years ended December 31, 2025 and 2024, no customer comprised 10% or greater of Targa's consolidated revenues.

Recent SEC Filings

2026-05-22 Shareholder vote results View filing ↗
2026-05-07 Reported quarterly results (+1 more) View filing ↗
2026-03-02 Entered a material agreement (+1 more) View filing ↗
2026-02-26 Regulation FD disclosure (+1 more) View filing ↗
2026-02-19 Reported quarterly results (+1 more) View filing ↗
2025-11-12 Entered a material agreement (+1 more) View filing ↗
2025-11-07 Regulation FD disclosure (+1 more) View filing ↗
2025-11-05 Reported quarterly results (+1 more) View filing ↗
2025-08-07 Reported quarterly results (+2 more) View filing ↗
2025-08-06 Leadership change (directors/officers) View filing ↗
2025-07-28 Entered a material agreement View filing ↗
2025-06-18 Entered a material agreement (+1 more) View filing ↗

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