Targa Resources Corp. (TRGP)
Targa Resources Corp. brought in $16.7B of revenue over the twelve months to June 30, 2026, down 2.0% from a year earlier. Net income was $2.3B, a net margin of 13.5%. Operating cash flow minus capital spending left $584.1M of free cash flow in fiscal 2025. At June 30, 2026 it held $132.3M in cash against $19.6B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 6, 2026.
Key facts about Targa Resources Corp.
- Net worth
- Targa Resources Corp. has a market value (market cap) of $61.6B at the latest share price, and shareholders' equity of $3.7B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $17B (+3.9% year on year), with net income of $1.9B. Over the 12 months to June 30, 2026: revenue $16.7B, net income $2.3B.
- Cash flow
- In fiscal 2025 operations brought in $3.9B of cash; after $3.3B of capital spending, free cash flow was $584.1M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 6, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Targa Resources Corp.'s next report is expected around November 4, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Targa Resources Corp. declared dividends of $3.75 per share in fiscal 2025, a yield of 1.30% at the current price.
What Targa Resources Corp. does
Targa Resources gathers, compresses, treats, processes, and transports natural gas and natural gas liquids. It operates pipeline systems, processing plants, and fractionation facilities primarily in the Permian Basin, Gulf Coast, and central United States, selling processed fuels and feedstocks to industrial users, utilities, and international exporters. Its shares trade on NYSE under the ticker TRGP.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $17B | $1.9B | $8.49 | $584.1M |
| 2024 | $16.4B | $1.3B | $5.74 | $683.9M |
| 2023 | $16.1B | $1.3B | $3.66 | $826.2M |
| 2021 | $20.9B | $1.2B | $3.88 | $1B |
| 2021 | $16.9B | $71.2M | -$0.07 | $1.8B |
| 2020 | $8.3B | -$1.6B | -$7.26 | $792.9M |
Full financial statements: income, balance sheet and cash flow
Where TRGP ranks in Utilities
Dividends
Targa Resources Corp. declared $3.75 per share in fiscal 2025. At the current price that is a yield of 1.30%.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $3.75 | n/a | n/a |
| 2024 | $2.75 | n/a | n/a |
| 2023 | $1.85 | n/a | n/a |
| 2021 | $1.40 | n/a | n/a |
| 2021 | $0.40 | n/a | n/a |
| 2020 | $1.21 | n/a | n/a |
Latest SEC filings
What Targa Resources Corp. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- September 17, 2026
- August 25, 2026
- August 6, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 4.2% to $4.4B versus the same quarter last year; diluted EPS $3.54 versus $2.87.
- August 6, 2026
- July 17, 2026
- July 6, 2026
- May 22, 2026
- May 15, 2026Passive stake changed SCHEDULE 13G/A
- May 7, 2026Quarterly report 10-Q · period to March 31, 2026Revenue fell 10% to $4.1B versus the same quarter last year; diluted EPS $2.21 versus $0.91.
- May 7, 2026
What is TRGP worth? A DCF from its reported cash flow
Insider trades
What the people running Targa Resources Corp. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $2.1M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 3, 2026 | Perkins Joe BobDirector | Gave as a giftindirect | 8,370 | - |
| September 1, 2026 | Chung Paul WDirector | Soldindirect | 1,000 | $295.4K |
| September 1, 2026 | Chung Paul WDirector | Soldindirect | 816 | $242.4K |
| September 1, 2026 | Secrest Brent B.See Remarks | Received as pay | 10,000 | - |
| August 25, 2026 | Crisp Charles RDirector | Gave as a gift | 1,200 | - |
| August 25, 2026 | Crisp Charles RDirector | Sold | 3,000 | $870.7K |
| August 21, 2026 | Davis Waters S IVDirector | Sold | 440 | $130.4K |
| August 21, 2026 | Davis Waters S IVDirector | Sold | 692 | $205.8K |
Who owns TRGP
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.54% | April 30, 2026 |
| Wellington Management Group LLP13G, passive with 3 related filers | 7% | May 15, 2026 |
| Vanguard Portfolio Management13G, passive | 5.54% | April 29, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 1,096 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 20,832,687 | +291,114 |
| State Street Corp | 14,226,166 | +626,885 |
| Wellington Management Group Llp | 14,176,394 | -867,067 |
| Vanguard Capital Management LLC | 14,015,559 | +65,206 |
| Vanguard Portfolio Management LLC | 11,697,574 | -153,815 |
| Harris Associates L P | 7,937,530 | -785,673 |
| Geode Capital Management, LLC | 6,083,486 | +75,162 |
| Norges Bank | 4,216,259 | new |
| Blackstone Inc. | 3,601,933 | +259,585 |
| Morgan Stanley | 3,559,424 | +341,275 |
| Tortoise Capital Advisors, L.L.C. | 3,529,491 | -17,270 |
| Invesco Ltd. | 3,395,829 | +360,923 |
| Fmr LLC | 3,344,388 | +665,282 |
| Goldman Sachs Group Inc | 3,099,107 | -27,255 |
| Deutsche Bank AG\ | 3,025,248 | +539,582 |
| Bank of America Corp | 2,740,533 | -411,460 |
| Neuberger Berman Group LLC | 2,693,151 | -16,745 |
| Northern Trust Corp | 2,341,818 | -129,310 |
| Dimensional Fund Advisors LP | 2,289,971 | +54,216 |
| D. E. Shaw & Co., Inc. | 2,279,804 | -148,221 |
Insiders
21 insiders reported holding 2,173,322 shares in total, about $624.6M at the last price.
| Holder | Shares |
|---|---|
| Meloy Matthew JChief Executive Officer, Director | 712,291 |
| McDonie Patrick J.See Remarks | 305,163 |
| Kneale Jennifer R.President | 235,260 |
| Muraro RobertChief Commercial Officer | 217,401 |
| Joyce Rene RDirector | 210,708 |
| Perkins Joe BobDirector | 124,469102,100 held indirectly |
| Chung Paul WDirector | 74,47944,000 held indirectly |
| Crisp Charles RDirector | 62,292 |
| Pryor D. ScottSee Remarks | 49,43829,604 held indirectly |
| Shrader Gerald RSee Remarks | 33,373 |
Questions about TRGP
What does Targa Resources Corp. do?
Targa Resources gathers, compresses, treats, processes, and transports natural gas and natural gas liquids. It operates pipeline systems, processing plants, and fractionation facilities primarily in the Permian Basin, Gulf Coast, and central United States, selling processed fuels and feedstocks to industrial users, utilities, and international exporters. Its shares trade on NYSE under the ticker TRGP.
What is Targa Resources Corp.'s net worth?
Targa Resources Corp. has a market value (market cap) of $61.6B at the latest share price, and shareholders' equity of $3.7B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Targa Resources Corp. profitable?
Yes. Over the twelve months to June 30, 2026 it reported net income of $2.3B on revenue of $16.7B, a net margin of 13.5%.
How much revenue does Targa Resources Corp. make?
Over the twelve months to June 30, 2026 Targa Resources Corp. reported revenue of $16.7B. That is 2.0% less than a year earlier.
When did Targa Resources Corp. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 6, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the conflict minerals disclosure from September 17, 2026.
When is Targa Resources Corp.'s next earnings report?
Targa Resources Corp.'s next report is expected around November 4, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
Does Targa Resources Corp. pay a dividend?
Yes. Targa Resources Corp. declared dividends of $3.75 per share in fiscal 2025, a yield of 1.30% at the current price.
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Follow TRGP: get an email when it filesWhere the numbers come from
Financial figures are the values Targa Resources Corp. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.