With a market cap of $56.5 billion, Targa Resources Corp. (TRGP) is one of the largest independent midstream energy infrastructure companies in the United States, focused primarily on gathering, processing, transporting, storing, and exporting natural gas and natural gas liquids (NGLs). The Houston, Texas-based company plays a critical role in the North American energy value chain by moving hydrocarbons from production basins to industrial, petrochemical, export, and end-market customers.
Shares of the company have outpaced the broader market over the past 52 weeks. TRGP stock has climbed 58.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 27.3%. However, shares of the company are up 45% on a YTD basis, outpacing SPX's 9.6% gain.
