OakChart

Targa Resources Corp

TRGPEnergy·Oil & Gas Midstream·USA·Large·NYSE·Nov 11 • 9:54 AM ET

285.85+4.53 (1.61%)
2026-11-11 15:54 CET
Market cap
60,358.33 USD m
Revenue, TTM
18,524.70 USD m
Net income, TTM
2,434.70 USD m
Free cash flow, TTM
933.80 USD m
EPS diluted, TTM
11.32
P/E
25.26
Compare

Price

TRGP against its 20, 50 and 200-day averages
2050200beat
200.00250.00300.001.9M3.8MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26TRGPclose 285.8520-day 292.3250-day 288.62200-day 263.31285.85

9.7% under 316.60 on 30 Oct 2026. Last 15 sessions, 21.2% high to low

Profile

TRGP
52-week range, 80% of the way up
166.18316.6

Targa Resources Corp. engages in the business of gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas. It operates through the following segments: Gathering and Processing, and Logistics and Transportation, and Other. The Gathering and Processing segment includes assets used in the gathering, and purchase and sale of natural gas produced from oil and gas wells. The Logistics and Transportation segment refers to the activities and assets necessary to convert mixed natural gas liquids (NGLs) into NGL products. The Other contains the results of commodity derivative activity mark-to-market gains and losses related to derivative contracts. The company was founded on October 27, 2005 and is headquartered in Houston, TX.

IndexS&P 500, RUI
Employees3570
IPODec 07, 2010
Beta0.76
ATR, 14d10.34
Rel volume0.41
Short float3.11%
Insider own1.57%
Inst own98.41%

Snapshot

6 groups

Valuation

IndexS&P 500, RUI
Market Cap61.33B
Enterprise Value81.12B
Income2.43B
Sales18.52B
Book/sh17.79
Cash/sh0.95
Dividend Est.4.99 (1.74%)
Dividend TTM4.75 (1.66%)
Dividend Ex-DateOct 30, 2026
Dividend Gr. 3/5Y38.88% 25.39%
Payout44.17%
Employees3570
IPODec 07, 2010

Ratios

P/E25.26
Forward P/E22.75
PEG1.09
P/S3.31
P/B16.07
P/C301.23
P/FCF65.68
EV/EBITDA13.15
EV/Sales4.38
Quick Ratio0.66
Current Ratio0.74
Debt/Eq5.20
LT Debt/Eq5.05
Option/ShortYes / Yes

Earnings

EPS (ttm)11.32
EPS next Y12.57
EPS next Q2.91
EPS this Y35.98%
EPS next Y8.19%
EPS next 5Y20.95%
EPS past 3/5Y29.82% -
Sales past 3/5Y-7.45% 15.75%
EPS Y/Y TTM52.09%
Sales Y/Y TTM5.22%
EPS Q/Q38.26%
Sales Q/Q32.82%
EarningsNov 05 BMO
EPS/Sales Surpr.0.96% 17.43%

Ownership

Insider Own1.57%
Insider Trans-0.53%
Inst Own98.41%
Inst Trans0.68%
ROA9.06%
ROE74.66%
ROIC10.54%
Gross Margin25.99%
Oper. Margin23.98%
Profit Margin13.14%
SMA20-2.22%
SMA50-0.96%
SMA2008.56%
Trades-

Technical

Shs Outstand214.48M
Shs Float211.19M
Short Float3.11%
Short Ratio5.30
Short Interest6.58M
52W High316.60 -9.71%
52W Low166.18 72.01%
Volatility5.33% 3.49%
ATR (14)10.34
RSI (14)48.30
Beta0.76
Rel Volume0.41
Avg Volume1.24M
Volume54,736

Performance

Perf Week0.30%
Perf Month-2.45%
Perf Quarter7.11%
Perf Half Y8.57%
Perf YTD54.93%
Perf Year65.01%
Perf 3Y238.04%
Perf 5Y417.37%
Perf 10Y493.91%
Recom1.40
Target Price331.00
Prev Close281.32
Price285.85
Change %1.61%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Sep 18, 2026UpgradeTTD CowenHold → Buy$350+22.4%
Sep 10, 2026ResumedSStifelBuy$340+18.9%
Aug 07, 2026ReiteratedTTD CowenHold$270 → $275-3.8%
Jun 25, 2026InitiatedEErste GroupBuy
Jun 18, 2026InitiatedJJefferiesBuy$314+9.8%
May 11, 2026ReiteratedTTD CowenHold$236 → $245-14.3%
May 04, 2026DowngradeSSeaport Research PartnersBuy → Neutral
Mar 24, 2026InitiatedTTruistBuy$279-2.4%
Feb 23, 2026ReiteratedTTD CowenHold$192 → $220-23.0%
Sep 19, 2025InitiatedBBMO Capital MarketsOutperform$185-35.3%

Peers

Mkt cap
TickerCompanyMkt cap
OKEOneok Inc55.38B
EPDEnterprise Products Partners L P80.20B
ETEnergy Transfer LP66.88B
MPLXMPLX LP57.34B
WESWestern Midstream Partners LP17.09B
WMBWilliams Cos Inc85.28B
KMIKinder Morgan Inc69.77B
KNTKKinetik Holdings Inc8.74B
PAAPlains All American Pipeline LP16.82B
ENBEnbridge Inc106.31B

Insider trading

latest 14 of 26
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Chung Paul WDirectorSep 01 '26Sale296.111,816537,73344,000Sep 03 04:30 PM
CRISP CHARLES RDirectorAug 25 '26Sale290.233,000870,69062,292Aug 26 04:30 PM
Chung Paul WDirectorAug 26 '26Proposed Sale286.915,8161,668,669Aug 26 09:44 AM
Davis Waters S IVDirectorAug 21 '26Sale299.672,400719,2091,529Aug 25 04:30 PM
CHARLES CRISPDirectorAug 25 '26Proposed Sale290.233,000870,690Aug 25 04:30 PM
Davis Waters S IVDirectorAug 20 '26Proposed Sale302.252,400725,400Aug 20 04:31 PM
CRISP CHARLES RDirectorMay 12 '26Sale255.9610,6022,713,73866,492May 13 04:30 PM
CHARLES CRISPOfficerMay 12 '26Proposed Sale255.9610,6022,713,738May 12 04:17 PM
Muraro RobertChief Commercial OfficerMar 05 '26Sale241.3424,5895,934,378197,401Mar 06 04:30 PM
Muraro RobertOfficerMar 05 '26Proposed Sale241.3424,5895,934,379Mar 05 01:40 PM
McDonie Patrick J.See RemarksMar 02 '26Sale239.3631,5377,548,842305,163Mar 04 04:30 PM
Branstetter Benjamin JamesSee RemarksMar 02 '26Sale238.833,258778,12429,285Mar 03 05:00 PM
Branstetter Benjamin JamesOfficerMar 02 '26Proposed Sale238.843,258778,124Mar 02 04:18 PM
McDonie Patrick J.OfficerMar 02 '26Proposed Sale239.3631,5377,548,837Mar 02 03:52 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VOOVanguard S&P 500 ETFAUM: 1054.75B
XLEState Street Energy Select Sector SPDR ETFAUM: 40.93B
VOVanguard Morningstar Mid-Cap ETFAUM: 107.07B
IVViShares Core S&P 500 ETFAUM: 871.38B
SPYSPDR S&P 500 ETF TrustAUM: 793.23B
VUGVanguard Morningstar Growth ETFAUM: 217.67B
VOTVanguard Morningstar Mid-Cap Growth ETFAUM: 18.66B
IWPiShares Russell Mid-Cap Growth ETFAUM: 18.09B
VDEVanguard Energy ETFAUM: 10.46B

News

latest 14 of 206
  • Targa Beats As Record Permian Volumes Drive Fourth 2026 Outlook Upgrade, But Fading Marketing Gains And Higher Capex Temper The Quarter (Earnings Whispers)
  • Targa Resources Corp. Reports Third Quarter 2026 Financial Results and Announces Expectation for a 20% Increase to its 2027 Common Dividend (GlobeNewswire)
  • Targa Must Show Permian Volumes Can Offset Fading Marketing Gains As Shares Near Highs (Earnings Whispers)
  • Targa Resources Corp. Announces Quarterly Common Dividend and Timing of Third Quarter 2026 Earnings Webcast (GlobeNewswire)
  • PROPWR Signs New Power Contracts to Commit Approximately 230 Megawatts to Targa Resources Corp. (Business Wire)
  • Loading…
  • Targa Resources Corp. Releases Sustainability Report (GlobeNewswire)
  • Bill Nygren's Bold Q2 2026 Move: Trimming Phillips 66 for a -1.81% Portfolio Impact (GuruFocus.com)
  • Targa grants new CFO hefty long-term incentive (CFO Dive)
  • Targa Resources Corp. Announces Addition of Experienced Industry Executive and Leadership Changes to Support Continued Long-Term Growth (GlobeNewswire)
  • Targa Resources Corp. stock outperforms competitors on strong trading day (MarketWatch) +7.13%
  • Targa Resources Corp. Announces 20-Year Agreements with ExxonMobil and Announces Three New Natural Gas Processing Plants in the Permian Delaware (GlobeNewswire)
  • Targa Resources Corp. Reports Record Second Quarter 2026 Financial Results (GlobeNewswire)
  • Targa Resources Corp's Dividend Analysis (GuruFocus.com)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-052.7652.7393.0445,5994,76817
2026Q22026-08-063.5522.8313.5344,4404,89817
2026Q12026-05-072.2272.4832.2144,0954,67617
2025Q42026-02-192.5372.3002.5254,0564,72915
2025Q32025-11-052.2132.1132.2014,1514,56216
2025Q22025-08-072.8971.8632.8774,2604,88915
2025Q12025-05-010.9961.9790.9094,5624,89914
2024Q42025-02-201.4811.9231.4514,4054,47513
2024Q32024-11-051.7621.5621.7483,8524,06013
2024Q22024-08-011.3491.2831.3353,5624,47414
2024Q12024-05-021.2281.3121.2204,5624,30014
2023Q42024-02-151.3011.4621.2484,2403,85014
2023Q32023-11-020.9781.1940.9683,8974,54414
2023Q22023-08-031.4541.2331.4363,4044,36313
2023Q12023-05-040.0291.4030.0284,5215,30013
2022Q42023-02-221.4261.3761.4064,5555,96613

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2019FY-1.463-0.878-1.4378,6718,572
2020FY-7.263-7.031-7.2568,2608,009
2021FY-0.0701.945-0.07016,95015,794
2022FY3.9123.8153.88120,93021,763
2023FY3.7154.8643.66516,06015,610
2024FY5.8206.1335.73716,38216,211
2025FY8.6258.5318.62517,02816,982
2026FY-11.615--18,686
2027FY-12.565--23,346
2028FY-15.113--26,625
2029FY-17.267--32,214
2030FY-19.445--35,481

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-095415,1864,2246,479
2026Q4S2026-11-055415,1624,2246,479
2026Q4S2026-10-195415,1464,0876,479
2026Q4S2026-10-145415,1284,0876,479
2026Q4S2026-10-125325,1124,0876,479
2026Q4S2026-10-055325,0794,0876,479
2026Q4S2026-09-175235,0614,0876,391
2026Q4S2026-09-034225,3044,1456,391
2026Q4S2026-08-165325,1104,1456,391
2026Q4S2026-08-146325,0524,1456,391
2026Q4S2026-08-116415,1044,1456,773
2026Q4S2026-08-066405,1744,3316,773
2026Q4S2026-07-316405,1494,3316,773
2026Q4S2026-07-236305,1394,2696,773

Estimate history

EPS, annual-0.31-0.532-1.437-7.256-0.073.8813.6655.7378.4911.3169
Period201720182019202020212022202320242025TTM
EPS, quarterly1.7481.4510.9092.8772.2012.5252.2143.5343.044
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual8864.610554.98677.68272.517440.421684.515619.216626.917188.618524.7
Period201720182019202020212022202320242025TTM
Sales, quarterly3885.94524.94852.84026.24201.74107.94338.44497.95580.5
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual217.567231.791232.844228.062228.221226.042222.611217.764214.662214.48
Period201720182019202020212022202320242025MRQ
Shares, quarterly218.329217.764217.461215.509214.843214.662214.73214.422214.48
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue18,524.7017,188.6016,626.9015,619.2021,684.5017,440.408,272.508,677.6010,554.90
Cost of Goods Sold Incl. D&A13,709.6013,321.4013,301.6013,083.9018,890.9015,347.106,750.007,883.009,776.10
Gross Profit4,815.103,867.203,325.302,535.302,793.602,093.301,522.50794.60778.80
Selling, General and Administrative Excl. Other431.60406.00384.90348.70309.70273.20254.60280.70256.90
Other Operating Expense-58.00-45.40-3.50-0.100.000.102.600.203.60
Operating Income4,441.503,506.602,943.902,186.702,483.901,820.001,265.30513.70518.30
Interest Expense913.00852.80767.20687.80446.10387.90391.30337.80257.90
Unusual Expense401.70272.40320.20-278.70441.10542.302,190.80117.70163.60
Net Income Before Taxes3,159.202,486.401,938.001,942.501,663.20436.90-1,573.10-46.7065.90
Income Taxes664.90529.70384.50363.20131.8014.80-248.10-87.905.50
Consolidated Net Income2,481.601,945.601,543.901,571.701,531.40422.10-1,325.0041.2060.40
Net Income From Continuing Operations2,434.701,841.401,269.50828.201,142.3071.20-1,553.90-209.201.60
Net Income2,434.701,841.401,269.50828.20896.80-16.10-1,684.80-334.00-119.30
EPS (Recurring)12.629.376.752.805.221.59-0.65-1.08-0.02
EPS (Basic, Before Extraordinaries)11.348.525.773.693.95-0.07-7.26-1.44-0.53
EPS (Diluted)11.328.495.743.663.88-0.07-7.26-1.44-0.53
EBITDA6,170.705,028.104,377.503,522.203,584.702,694.602,134.001,490.001,337.90
Non-Operating Income (Expense)27.50105.0081.50164.9066.50-452.90-256.30-104.90-30.90
Other After Tax Adjustments-12.70-11.10-9.60-7.600.000.000.000.000.00
Stock Option Compensation Expense59.9654.9149.9349.3045.4243.2248.3345.1146.61
Price To Earnings Ratio24.8624.8632.1622.6471.10----
Price To Sales Ratio3.142.332.381.260.780.680.741.090.77
Gross Margin25.9922.5020.0016.2312.8812.0018.409.167.38
Operating Margin23.9820.4017.7114.0011.4510.4415.305.924.91
Net Margin13.1410.717.645.304.14-0.09-20.37-3.85-1.13
Shares Outstanding214.48214.66217.76222.61226.04228.22228.06232.84231.79
Market Capitalization60,358.3360,358.3338,924.2519,369.9316,638.5611,961.506,041.369,504.658,258.77

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue5,580.504,497.904,338.404,107.904,201.704,026.204,852.804,524.90
Cost of Goods Sold Incl. D&A4,410.503,109.203,154.203,035.703,223.403,133.303,929.003,606.90
Gross Profit1,170.001,388.701,184.201,072.20978.30892.90923.80918.00
Selling, General and Administrative Excl. Other112.90108.1098.90111.70104.8095.0094.5097.50
Other Operating Expense-19.60-11.60-17.50-9.30-11.20-10.70-6.800.20
Operating Income1,076.701,292.201,102.80969.80884.70808.60836.10820.30
Interest Expense232.80236.60227.60216.00221.30218.40197.10177.70
Unusual Expense-29.7069.30257.40104.7074.60-196.60287.20130.40
Net Income Before Taxes850.801,004.90611.30692.20620.90821.30352.00524.50
Income Taxes174.70227.20123.90139.10134.30184.1072.20110.50
Consolidated Net Income672.90773.70484.90550.10483.70633.20278.60411.80
Net Income From Continuing Operations655.00760.60477.10542.00475.50625.10198.80315.90
Net Income655.00760.60477.10542.00475.50625.10198.80315.90
EPS (Recurring)2.953.763.052.872.442.241.831.87
EPS (Basic, Before Extraordinaries)3.053.542.222.522.212.890.911.45
EPS (Diluted)3.043.532.212.522.202.880.911.45
EBITDA1,536.301,745.301,528.801,360.301,268.201,182.301,203.701,205.20
Non-Operating Income (Expense)-22.8018.60-6.5038.2032.1034.500.2012.30
Other After Tax Adjustments-3.20-4.00-2.50-3.00-2.90-4.00-1.20-2.20
Stock Option Compensation Expense13.7514.2218.3313.6713.8213.5113.9012.48
Price To Earnings Ratio24.8627.3129.4624.8123.9931.9934.8432.16
Price To Sales Ratio3.143.373.242.302.062.192.602.34
Gross Margin20.9730.8727.3026.1023.2822.1819.0420.29
Operating Margin19.2928.7325.4223.6121.0620.0817.2318.13
Net Margin11.7416.9111.0013.1911.3215.534.106.98
Shares Outstanding214.48214.42214.73214.66214.84215.51217.46217.76
Market Capitalization60,358.3357,554.6453,894.9239,604.5936,053.2737,763.5243,723.9138,924.25

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments320.80219.10253.60398.90201.60328.30434.40347.40175.10
Short Term Receivables1,474.601,618.301,471.001,408.401,331.90862.80855.00865.50827.60
Inventories429.30334.30371.50393.80153.40181.50161.50164.70204.50
Other Current Assets138.00124.6098.50155.5082.9087.70207.4041.3062.70
Total Current Assets2,362.702,296.302,194.602,356.601,769.801,460.301,658.301,418.901,269.90
Net Property, Plant & Equipment20,534.8018,062.7015,806.4014,214.6011,667.7012,173.6014,590.5012,928.4010,430.00
Total Investments and Advances342.10218.60179.60155.80594.20763.30774.20524.60244.80
Long-Term Note Receivable--------3.00
Intangible Assets1,763.702,022.602,395.802,779.801,140.001,382.401,780.202,029.802,422.40
Deferred Tax Assets1,075.301,214.501,355.101,541.901,200.701,377.001,235.60680.70278.10
Other Assets215.10133.9095.4053.2036.5096.1011.9036.5018.50
Total Assets26,293.7023,948.6022,026.9021,101.9016,408.9017,252.7020,050.7017,618.9014,666.70
Short Term Debt Incl. Current Port. of LT Debt770.10387.70620.70834.30162.80380.60390.001,027.90350.00
Accounts Payable1,873.002,012.501,574.901,448.801,402.30833.80997.101,200.501,001.20
Income Tax Payable------62.4047.7027.10
Other Current Liabilities903.70772.40565.30783.60733.40565.00423.10522.70238.30
Total Current Liabilities3,546.803,172.602,760.903,066.702,298.501,779.401,872.602,798.801,616.60
Long Term Debt16,751.9013,877.3012,389.7010,730.706,468.907,433.307,487.405,632.404,703.00
Provision for Risks Charges185.40177.70103.0097.9072.1068.3066.3055.5050.80
Deferred Tax Liabilities2,468.802,086.601,890.901,869.601,336.701,529.101,669.801,205.90757.10
Other Liabilities162.80216.20272.40354.80304.30238.00232.90209.80566.70
Total Liabilities23,115.7019,530.4017,416.9016,119.7010,480.5011,048.1011,329.009,902.407,694.20
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.00749.70301.40278.80245.70216.50
Common Equity3,067.902,592.402,739.702,665.702,011.802,653.904,920.806,079.406,160.30
Total Shareholders Equity3,067.902,592.402,739.702,665.702,761.502,955.305,199.606,325.106,376.80
Accumulated Minority Interest130.301,825.801,870.302,316.503,166.903,249.303,522.101,391.40595.70
Total Equity3,198.204,418.204,610.004,982.205,928.406,204.608,721.707,716.506,972.50
Total Liabilities & Stockholders Equity26,313.9023,948.6022,026.9021,101.9016,408.9017,252.7020,050.7017,618.9014,666.70
Book Value Per Share14.2911.9012.3111.798.8211.6421.1326.2328.31
Tangible Book Value Per Share6.082.621.54-0.503.825.5813.4917.4717.18
Full-Time Employees3,5703,3703,1822,8502,4302,3722,6802,4602,130
Price to Book Ratio15.8115.147.736.975.932.271.931.371.74
Return on Assets7.335.523.846.090.42-8.33-1.110.010.39
Return on Equity65.0647.6230.6442.102.49-38.11-3.630.030.91
Return on Invested Capital9.297.715.478.530.77-14.96-1.650.010.49
Quick Ratio0.550.620.660.640.700.720.800.450.66
Current Ratio0.670.720.790.770.770.820.890.510.79

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income2,494.301,956.701,553.501,579.301,531.40422.10-1,325.0041.2060.40
Depreciation1,729.201,515.301,433.601,335.501,100.80874.60868.70976.30819.60
Other Funds (Non Cash)90.20122.40256.90-192.00-12.50788.302,374.20449.10221.40
Funds from Operations4,969.504,111.003,611.003,072.402,744.802,097.101,685.201,378.701,106.90
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital81.90-193.6038.70139.20-364.00205.8059.3011.1037.10
Cash from Operating Activities5,051.403,917.403,649.703,211.602,380.802,302.901,744.501,389.801,144.00
Capital Expenditures-4,117.60-3,333.30-2,965.80-2,385.40-1,334.30-505.10-951.60-2,877.80-3,114.80
Net Assets From Acquisitions-1,479.40-2,013.50-112.90-1,118.90-4,635.400.000.000.00-0.10
Sale of Fixed Assets and Businesses0.000.0015.3014.4049.1028.00240.20570.101,074.80
Purchase or Sale of Investments-9.10-122.70-57.40-19.10872.3019.6010.50-193.00-276.50
Purchase of Investments-14.20-130.50-62.90-24.60-1.50-0.60-2.70-266.80-282.00
Sale Or Maturity of Investments5.107.805.505.50873.8020.2013.2073.805.50
Other Uses0.000.00-1.40-1.00-1.600.000.00-15.90-12.50
Other Sources17.7027.100.000.000.000.104.300.000.00
Cash from Investing Activities-5,588.40-5,442.40-3,122.20-3,510.00-5,049.90-457.40-696.60-2,516.60-2,329.10
Cash Dividends Paid-974.00-818.30-615.50-427.30-379.70-187.50-395.90-964.80-919.60
Change in Capital Stock-224.10-641.80-754.70-429.50-1,225.80-53.20-268.20-13.90685.00
Repurchase of Common Pref Stock-224.10-641.80-754.70-429.50-1,225.80-53.20-268.20-13.90-4.00
Sale of Common Pref Stock0.000.000.000.000.000.000.000.00689.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.00689.00
Issuance or Reduction of Debt, Net1,845.003,101.101,149.901,300.004,651.50-1,189.10-32.901,093.601,585.30
Change in Long Term Debt1,994.003,431.101,394.901,525.004,001.50-989.10-12.901,003.601,655.30
Issuance of Long Term Debt113,006.00114,737.9086,420.0062,694.4040,545.001,610.403,185.105,564.503,210.30
Reduction of Long Term Debt-111,012.00-111,306.80-85,025.10-61,169.40-36,543.50-2,599.50-3,198.00-4,560.90-1,555.00
Net Financing Active Other Cash Flow-91.40-107.20-291.60-222.10-316.40-500.00-439.201,110.90-70.70
Other Financing Activities Uses-91.40-107.20-291.60-222.10-316.40-500.00-439.20-508.80-70.70
Cash from Financing Activities555.501,533.80-511.90221.102,729.60-1,929.80-1,136.201,225.801,280.00
Net Change in Cash18.508.8015.60-77.3060.50-84.30-88.3099.0094.90
Free Cash Flow933.80584.10683.90826.201,046.501,797.80792.90-1,488.00-1,970.80
Preferred Dividends (Cash Flow)-0.000.000.00-----
Price to Free Cash Flow--577.5249.2225.477.4215.43--
Deferred Taxes & Investment Tax Credit-516.60367.00349.60125.1012.10-232.70-87.905.50

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments203.60207.80200.70320.80223.90191.40
Short Term Receivables2,179.601,952.101,691.701,474.601,407.701,408.60
Inventories341.80311.70334.40429.30490.70443.50
Other Current Assets182.60157.50211.40138.00157.30163.70
Total Current Assets2,907.602,629.102,438.202,362.702,279.602,207.20
Net Property, Plant & Equipment23,964.6023,062.6021,770.9020,534.8019,610.1019,020.30
Total Investments and Advances360.90379.10353.50342.10349.10294.80
Intangible Assets2,002.702,105.202,201.201,763.701,732.901,814.40
Deferred Tax Assets---1,075.30--
Other Assets360.00339.10343.50215.10203.10176.10
Total Assets29,595.8028,515.1027,107.3026,293.7024,174.8023,512.80
Short Term Debt Incl. Current Port. of LT Debt562.50558.00696.90770.10689.30768.20
Accounts Payable2,576.602,108.401,987.901,873.001,584.401,726.70
Other Current Liabilities776.80744.70711.10903.70673.50681.80
Total Current Liabilities3,915.903,411.103,395.903,546.802,947.203,176.70
Long Term Debt19,282.0019,020.0018,434.9016,751.9016,742.0016,082.30
Provision for Risks Charges0.000.000.00185.400.000.00
Deferred Tax Liabilities1,856.701,732.101,479.202,468.801,226.001,079.40
Other Liabilities580.60556.20528.30162.80425.80463.00
Total Liabilities25,635.2024,719.4023,838.3023,115.7021,341.0020,801.40
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity3,815.703,656.503,136.503,067.902,706.802,588.10
Total Shareholders Equity3,815.703,656.503,136.503,067.902,706.802,588.10
Accumulated Minority Interest144.90139.20132.50130.30127.00123.30
Total Equity3,960.603,795.703,269.003,198.202,833.802,711.40
Total Liabilities & Stockholders Equity29,595.8028,515.1027,107.3026,313.9024,174.8023,512.80
Book Value Per Share17.7917.0514.6114.2912.6012.01
Tangible Book Value Per Share8.457.234.366.084.533.59
Full-Time Employees---3,570--
Price to Book Ratio15.8118.3617.5414.6413.9515.44
Return on Assets9.068.678.497.337.016.81
Return on Equity74.6672.2375.8765.0661.1860.30
Return on Invested Capital2.843.352.212.732.443.35
Quick Ratio0.660.680.620.550.610.56
Current Ratio0.740.770.720.670.770.69

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income676.10777.70487.40553.10486.60637.20
Depreciation459.60453.10426.00390.50383.50373.70
Other Funds (Non Cash)-24.10-75.40147.3042.4058.30-249.40
Funds from Operations1,286.001,381.801,184.601,117.101,087.20931.30
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital79.1059.50-445.10388.40-488.00-73.00
Cash from Operating Activities1,365.101,441.30739.501,505.50599.20858.30
Capital Expenditures-1,244.80-1,010.10-899.50-963.20-671.80-906.10
Net Assets From Acquisitions0.00-5.00-1,261.30-213.100.00-0.40
Sale of Fixed Assets and Businesses0.000.000.000.000.000.00
Purchase or Sale of Investments0.40-4.00-1.00-4.50-46.10-50.80
Purchase of Investments-2.10-1.90-4.00-6.20-48.50-52.00
Sale Or Maturity of Investments2.50-2.103.001.702.401.20
Other Uses0.000.000.000.000.000.00
Other Sources11.205.600.900.0026.800.10
Cash from Investing Activities-1,233.20-1,013.50-2,160.90-1,180.80-691.10-957.20
Cash Dividends Paid-269.60-269.70-218.90-215.80-216.90-218.40
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock-52.00-80.10-55.00-37.00-155.60-324.30
Repurchase of Common Pref Stock-52.00-80.10-55.00-37.00-155.60-324.30
Sale of Common Pref Stock0.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.00
Issuance or Reduction of Debt, Net232.30-34.001,668.50-21.80497.20616.20
Change in Long Term Debt232.30115.001,068.50578.20-102.801,216.20
Issuance of Long Term Debt33,576.4021,912.3033,307.4024,209.9040,422.4022,709.00
Reduction of Long Term Debt-33,344.10-21,797.30-32,238.90-23,631.70-40,525.20-21,492.80
Net Financing Active Other Cash Flow-32.30-11.80-39.20-8.10-21.80-12.90
Other Financing Activities Uses-32.30-11.80-39.20-8.10-21.80-12.90
Cash from Financing Activities-121.60-395.601,355.40-282.70102.9060.60
Net Change in Cash10.3032.20-66.0042.0011.00-38.30
Free Cash Flow120.30431.20-160.00542.30-72.60-47.80

Revenue breakdown

Product2024: 13.89B 2025: 14.40B
Service2024: 2.49B 2025: 2.62B
United States2024: 16.38B 2025: 17.03B
Corporate Non Segment And Inter Segment Elimination2024: -4.29B 2025: -4.95B
Gathering And Processing2024: 6.81B 2025: 7.42B
Logistics And Transportation2024: 14.03B 2025: 14.56B
Other Operating2024: -164.60M 2025: -5.30M

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-303.11%6.6M211.2M1.18M
2026-10-152.65%5.6M211.1M1.18M
2026-09-302.51%5.3M211.1M1.19M
2026-09-152.68%5.7M211.1M1.23M
2026-08-312.54%5.4M211.1M1.24M
2026-08-142.35%5.0M211.1M1.20M
2026-07-312.18%4.6M211.1M1.22M
2026-07-151.97%4.2M211.3M1.24M
2026-06-302.20%4.6M211.3M1.27M
2026-06-152.26%4.8M211.2M1.28M
2026-05-292.16%4.6M211.3M1.39M
2026-05-152.10%4.4M211.3M1.46M
2026-04-302.56%5.4M211.2M1.48M
2026-04-152.20%4.7M211.4M1.50M
2026-03-312.17%4.6M211.4M1.49M
2026-03-132.17%4.6M211.4M1.44M
2026-02-272.14%4.5M211.4M1.42M
2026-02-132.53%5.4M211.4M1.39M
2026-01-303.12%6.6M211.1M1.50M
2026-01-152.49%5.3M211.1M1.49M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call130153156.70.002.7020.000.000.981-0.3020.021
call135147.9151.70.002.5830.000.000.980-0.3010.021
call140143.1146.70.002.4690.000.000.979-0.3000.022
call145138.1141.70.002.3580.000.000.978-0.2980.023
call150133.1136.70.002.2520.000.000.977-0.2970.024
call155128.1131.70.002.1490.000.000.976-0.2950.025
call160123.5126.70.002.0490.000.000.975-0.2930.026
call165118.5121.70.001.9520.000.000.974-0.2910.027
call170112.9116.70.001.8580.000.000.973-0.2890.028
call175107.8111.70.001.7990.000.000.971-0.2870.029
call180103.5106.70.001.7080.000.000.970-0.2840.030
call18598.50101.70.001.6200.000.000.968-0.2820.032
call19093.3096.700.001.5340.000.000.967-0.2790.033
call19588.3091.700.001.4500.000.000.965-0.2760.034
call20083.4086.700.001.3680.000.000.963-0.2730.036
call21073.5076.8076.391.2080.000.000.959-0.2670.040
call22063.3066.8073.481.0540.000.000.953-0.2590.044
call23053.6056.8056.700.9050.000.000.946-0.2500.049
call24043.7046.800.000.7770.000.000.938-0.2390.055
call25034.0037.0031.070.7011.000.000.926-0.2250.063
call26024.4027.2021.300.59819.000.000.899-0.2270.080
call27014.9018.5012.940.47542.000.000.796-0.3310.128
call2807.8011.504.010.46457.000.000.630-0.4220.170
call2903.006.403.450.4511220.000.438-0.4430.178
call3000.602.651.850.4211821.000.257-0.3590.145
call3100.051.850.450.5001,8490.000.166-0.3170.112
call3200.000.750.150.4907450.000.078-0.1780.066
call3300.000.750.400.5883760.000.067-0.1900.058
call3400.000.750.280.6771440.000.059-0.2000.053
call3500.000.750.420.76428.000.000.054-0.2080.049
call3600.000.750.800.8476.000.000.049-0.2150.046
call3700.000.950.650.9292.000.000.046-0.2220.043
call3800.000.751.001.0013.000.000.043-0.2280.041
call3900.000.750.351.0732.000.000.041-0.2330.039
call4000.000.750.301.1421.000.000.039-0.2380.038
call4100.000.750.301.2091.000.000.037-0.2420.036
call4200.000.750.301.2731.000.000.035-0.2460.035
call4300.000.750.001.3360.000.000.034-0.2500.034
put1300.001.350.002.6700.000.00-0.019-0.3020.021
put1350.001.450.002.5550.000.00-0.019-0.3000.021
put1400.001.350.002.4410.000.00-0.020-0.2980.022
put1450.001.350.002.3340.000.00-0.021-0.2960.023
put1500.001.450.002.1230.000.00-0.019-0.2440.021
put1550.001.450.002.0260.000.00-0.020-0.2420.022
put1600.001.350.002.0330.000.00-0.024-0.2890.026
put1650.001.450.001.8410.000.00-0.022-0.2380.024
put1700.001.450.001.7520.000.00-0.023-0.2360.025
put1750.001.450.001.6650.000.00-0.024-0.2330.026
put1800.001.450.001.6700.000.00-0.030-0.2780.030
put1850.001.450.001.5880.000.00-0.031-0.2750.032
put1900.001.450.001.4180.000.00-0.028-0.2260.029
put1950.001.150.001.4200.000.00-0.035-0.2680.034
put2000.001.450.591.3441.000.00-0.036-0.2650.036
put2100.001.450.001.1890.000.00-0.041-0.2570.039
put2200.001.000.851.0362.000.00-0.046-0.2480.044
put2300.001.551.000.8942.000.00-0.053-0.2380.049
put2400.000.951.040.75221.000.00-0.062-0.2260.055
put2500.000.951.860.6123340.00-0.074-0.2110.063
put2600.101.055.580.48594.000.00-0.101-0.2120.080
put2700.102.352.150.4491990.00-0.203-0.3150.128
put2802.855.006.400.4254210.00-0.370-0.4050.170
put2907.6010.6012.130.4611620.00-0.564-0.4370.178
put30015.0018.2018.530.51559.000.00-0.743-0.3400.145
put31024.3027.5012.000.62315.000.00-0.833-0.2970.112
put32033.6037.000.000.7180.000.00-0.922-0.1560.066
put33043.5047.200.000.8580.000.00-0.933-0.1670.058
put34053.5057.000.000.9530.000.00-0.940-0.1760.053
put35063.5067.200.001.0810.000.00-0.946-0.1830.049
put36073.5077.000.001.1610.000.00-0.950-0.1890.046
put37083.5086.700.001.2210.000.00-0.954-0.1950.043
put38093.5096.800.001.3240.000.00-0.957-0.1990.041
put390103.5107.30.001.4710.000.00-0.959-0.2030.039
put400113.51170.001.5190.000.00-0.961-0.2070.038
put410123.51270.001.6000.000.00-0.963-0.2100.036
put420133.5136.60.001.6220.000.00-0.964-0.2130.035
put430143.5146.70.001.7110.000.00-0.966-0.2160.034

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-0510-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-11-058-KCurrent report2026-11-05SEC
2026-09-17SDSpecialized Disclosure ReportSEC
2026-09-084Statement of changes in beneficial ownership of securities2026-09-03SEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-01SEC
2026-09-033Initial statement of beneficial ownership of securities2026-09-01SEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-01SEC
2026-08-26144Filing for proposed sale of securities under Rule 144.SEC
2026-08-264Statement of changes in beneficial ownership of securities2026-08-25SEC
2026-08-25144Filing for proposed sale of securities under Rule 144.SEC
2026-08-254Statement of changes in beneficial ownership of securities2026-08-21SEC
2026-08-258-KCurrent report2026-08-19SEC
2026-08-244Statement of changes in beneficial ownership of securities2026-08-20SEC
2026-08-20144Filing for proposed sale of securities under Rule 144.SEC
2026-08-204Statement of changes in beneficial ownership of securities2026-08-18SEC
2026-08-0610-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-08-068-KCurrent report2026-08-06SEC
2026-08-044Statement of changes in beneficial ownership of securities2026-08-01SEC
2026-08-044Statement of changes in beneficial ownership of securities2026-08-01SEC
2026-08-044Statement of changes in beneficial ownership of securities2026-08-01SEC
2026-07-234Statement of changes in beneficial ownership of securities2026-07-21SEC
2026-07-233Initial statement of beneficial ownership of securities2026-07-16SEC
2026-07-178-KCurrent report2026-07-16SEC
2026-07-068-KCurrent report2026-07-01SEC
2026-05-228-KCurrent report2026-05-21SEC
2026-05-154Statement of changes in beneficial ownership of securities2026-05-14SEC
2026-05-15SCHEDULE 13G/ASEC
2026-05-134Statement of changes in beneficial ownership of securities2026-05-12SEC
2026-05-134Statement of changes in beneficial ownership of securities2026-05-12SEC
2026-05-12144Filing for proposed sale of securities under Rule 144.SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-0900537.73K1
2026-08001.59M2
2026-070000
2026-060000
2026-05002.71M1
2026-040000
2026-030014.26M3
2026-020011.21M4
2026-010000
2025-1200498.33K1
2025-11003.44M1

Institutional holders

Manager% owned
BlackRock, Inc.9.71%
STATE STREET CORP6.63%
WELLINGTON MANAGEMENT GROUP LLP6.60%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
VANGUARD PORTFOLIO MANAGEMENT LLC5.45%
HARRIS ASSOCIATES L P3.70%
GEODE CAPITAL MANAGEMENT, LLC2.97%
NORGES BANK1.96%
DEUTSCHE BANK AG\1.80%
FMR LLC1.70%

Funds

Fund% owned
Loomis Sayles Investment Grade Bond Fund20.29%
Victory Pioneer Multi-Asset Ultrashort Income Fund18.05%
Putnam Ultra Short Duration Income Fund16.88%
VANGUARD INSTITUTIONAL INTERMEDIATE-TERM BOND FUND14.59%
VANGUARD SHORT-TERM INVESTMENT-GRADE FUND11.04%
Baird Short-Term Bond Fund10.81%
MFS Income Fund10.57%
Baird Aggregate Bond Fund10.34%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND10.24%
MFS Corporate Bond Fund9.68%

OakChart. TRGP. Cached 15 minutes.