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Updated Aug 25, 2026
Targa appoints Enterprise Products veteran Brent Secrest as President–Logistics; promotes Ben Branstetter to CFO.
Targa Resources executed a planned leadership transition in its finance and logistics functions on August 20, 2026. Benjamin Branstetter, who served as President–Logistics and Transportation, was promoted to Chief Financial Officer with an annual base salary of $600,000 and a 400% long-term incentive award, effective September 1, 2026. Brent B. Secrest, a 13-year veteran of Enterprise Products with extensive commercial and marketing experience, was appointed to Branstetter's former role. William A. Byers, the outgoing CFO, announced his retirement effective September 1 with a transition period through December 31, 2026, during which he retains base salary and vesting of 2024–2025 RSU/PSU awards.
Tone: neutralRevenue
$17B
TRGP 10-K · FY 2025
Revenue FY2024
$16.4B
Headquarters
Houston, TX
Profile
TRGP 10-K Item 1 · Feb 19, 2026Targa Resources Corp. is a Houston-based midstream energy company that gathers, compresses, treats, processes, transports, and sells natural gas; transports, stores, fractionates, and sells NGLs and NGL products, including LPG export services; and gathers, stores, terminals, and sells crude oil. The company operates through two segments — Gathering and Processing, and Logistics and Transportation — with assets concentrated in the Permian Basin, Williston Basin, and Gulf Coast. Targa owns and controls the general partner of Targa Resources Partners LP, which holds the operating assets.
Read filing description ↓ Collapse description ↑
Targa Resources Corp. (NYSE: TRGP) owns, operates, acquires, and develops a diversified portfolio of complementary domestic infrastructure assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. The Company operates in two primary segments: Gathering and Processing, and Logistics and Transportation (also referred to as the Downstream Business). The Gathering and Processing segment includes assets used in the gathering and/or purchase and sale of natural gas produced from oil and gas wells, removing impurities and processing this raw natural gas into merchantable natural gas by extracting NGLs; and assets used for the gathering and terminaling and/or purchase and sale of crude oil. The Logistics and Transportation segment includes the activities and assets necessary to convert mixed NGLs into NGL products and also includes other assets and value-added services such as transporting, storing, fractionating, terminaling, and marketing of NGLs and NGL products, including services to LPG exporters and certain natural gas supply and marketing activities. TRGP controls the general partner of and owns all of the outstanding common units representing limited partner interests in Targa Resources Partners LP.
Primary products
- Natural gas gathering, compressing, treating and processing
- NGL transportation, fractionation and services
- Storage, terminaling and export services
- Crude oil gathering, storing and terminaling
- LPG export services
- Natural gas supply and marketing
Business segments
End markets
Geographies
Named competitors
Revenue commentary · FY 2025
Total revenues increased from $16.38 billion in 2024 to $17.03 billion in 2025, driven by higher fees from midstream services, partially offset by fluctuations in commodity sales revenues.
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