Targa Resources Corp.(TRGP)Stock Analysis
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Rank #338 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
TRGP Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Targa Resources Corp. (TRGP), a Energy sector company. 13F Pro's AI-powered ranking engine scores TRGP at 70.0/100 on a 32-signal composite quality model, placing it at rank #338 of 2,879 stocks — the top 25% of the AI-ranked universe. TRGP scores in the top quartile across revenue scale (91.6), balance sheet strength (79.7), institutional flow (78.2). Areas of concern include free cash flow (32.0), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), Targa Resources Corp. reports quarterly revenue of $4.1B, net income of $479.6M, an operating margin of 20.7%. TRGP trades on the NYSE exchange and files with the SEC under CIK 1389170. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TRGP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Targa Resources Corp. directly from SEC EDGAR. Targa Resources Corp.'s 13F Pro composite quality score has ranged between 8 and 74 since 2021, currently 70.0 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving TRGP's Business? Latest 10-Q Breakdown
AI-extracted from Targa Resources Corp.'s 10-Q filed 2026-05-07 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q1 2026 revenue of $4.1B with net income of $479.6M, up 77% YoY, driven by higher fee-based margins and strong Permian volumes despite 14% decline in commodity sales.
Biggest Revenue Drivers
Total revenue: $4,094.7M-10% YoY
Higher NGL pipeline transportation and fractionation volumes offset by lower export volumes; improved marketing margin.
Largest Expense Items
Lower NGL and natural gas prices, partially offset by higher volumes purchased.
Acquisition of Permian Basin assets and multiple plant additions increased asset base.
Higher labor, maintenance costs from increased activity, system expansions and Permian asset acquisition.
Higher borrowings partially offset by increased capitalized interest on major projects.
Margins: Adjusted operating margin improved 19% to $1,402.7M (EBITDA), driven by higher fee-based revenues from Permian expansion and strong volumes, despite lower commodity prices. Operating margin expanded 56% to $846.9M benefiting from lower product costs and improved fee-based business mix.
Watch Items from the Filing
- One Logistics and Transportation customer represented 11% of Q1 2026 consolidated revenues, versus no single customer at 10%+ in Q1 2025; customer concentration risk.
- New Mexico Environment Department issued proposed Administrative Compliance Order with $47.8M civil penalty and $140M capital improvement requirement (largely completed by year-end 2024) for Red Hills processing facility air violations; ongoing dispute with hearing filed January 3, 2025.
- Stakeholder Acquisition ($1.25B) and Dovetail Acquisition ($122.8M) closed in early 2026, significantly increasing asset base and debt; contingent consideration up to $60M on Dovetail over five years adds long-term obligation.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$4.1B
Net Income
Q1 2026
$479.6M
Free Cash Flow
Q1 2026
$-160.0M
Operating Margin
Q1 2026
20.7%
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Popular Research
Is TRGP a good stock to buy?
13F Pro's AI-powered analysis of Targa Resources Corp. (TRGP) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for TRGP are available on the TRGP stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own TRGP?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling TRGP. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Targa Resources Corp.'s investment landscape.