Headquartered in Houston, TX Fiscal year ends December NYSE: TRGP targaresources.com
Targa Resources Corp. is one of the largest independent midstream infrastructure companies in North America. The company owns, operates, acquires, and develops a diversified portfolio of domestic midstream assets that are critical to the gathering, processing, transporting, storing, fractionating, terminaling, and marketing of natural gas and natural gas liquids (NGLs). Its operations span two primary segments: Gathering and Processing (G&P), which gathers raw natural gas from oil and gas wells and processes it into merchantable natural gas by extracting NGLs, as well as gathering and terminaling crude oil; and Logistics and Transportation (L&T), which converts mixed NGLs into NGL products, provides NGL pipeline transportation connecting Permian Basin gathering positions to downstream facilities in Mont Belvieu, Texas, and operates fractionation, storage, terminaling, and LPG export services. Targa's G&P assets are located in the Permian Basin of West Texas and Southeast New Mexico, the Eagle Ford Shale in South Texas, the Barnett Shale in North Texas, the Anadarko/Ardmore/Arkoma Basins in Oklahoma and South Central Kansas, the Williston Basin in North Dakota, and the Louisiana Gulf Coast. Its downstream facilities are predominantly in Mont Belvieu and Galena Park, Texas, and Lake Charles, Louisiana. The company is a FORTUNE 500 company and is included in the S&P 500. Updated
Targa Resources closed at $302.37, its first trip above $300 and a new 52-week high that tops the August 20 record by 0.04%. The $64.8 billion midstream name has roughly doubled off last October's $153 level.
A 4.06% intraday run to $302.23 is a big single-session step for a $64.8 billion midstream name that usually trades in much tighter ranges. Worth watching whether it holds above the $290.42 open into the close.
A 4.99% slide to $283.10 takes roughly $3 billion off a $60.7 billion midstream name that rarely moves this hard in a single session. Whether it holds this level into the close is the thing to track.
A 4% midday slide to $279.27 is a rare jolt for a $59.9 billion midstream name that usually trades like an income stock. Whether it holds the $280 line into the close is the thing to watch.
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Targa Resources Corp. is one of the largest independent midstream infrastructure companies in North America.
24/7 Wall St.'s 12-month price target for TRGP is $349.09, rated Buy. The Wall Street consensus target is $329.81. TRGP price prediction →
