Based in Houston, Texas, Targa Resources Corp. (TRGP) is an energy infrastructure company that owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets. Valued at a market cap of $43.4 billion, the company also offers NGL balancing services, and transportation services to refineries and petrochemical companies.
Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and TRGP fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the oil & gas midstream industry. The company’s strengths lie in its large-scale infrastructure, strategic location in high-production areas, and strong cash flow generation from fee-based contracts. Targa has also benefited from increasing NGL exports, capitalizing on global demand growth.
