TRGP
Market read
The latest filing evidence is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Invalidation: The isolated read changes if TRGP's group or a disclosed connection begins moving with it.
Research brief
The latest filing evidence is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
No thresholded adverse filing evidence is available yet.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
No qualifying adverse evidence was identified; that is not proof there is no downside.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“The increase was primarily due to the redemption of all of the Partnership’s 6.875% Notes due 2029 and higher trade receivables, partially offset by a higher outstanding balance on the Securitization Facility, a higher payables balance due to capital spending…”10-Q · Aug 6, 2026 ↗
“The increase in interest expense, net, was primarily due to higher borrowings, partially offset by an increase in capitalized interest.”10-Q · Aug 6, 2026 ↗
“The increase in operating expenses was primarily due to higher volumes resulting from multiple plant additions and the acquisition of certain assets in the Permian Basin during the first quarter of 2026.”10-Q · Aug 6, 2026 ↗
“The increase in natural gas inlet volumes in the Permian was attributable to the addition of the Pembrook II plant during the third quarter of 2025, the Bull Moose II plant during the fourth quarter of 2025, the Falcon II plant during the first quarter of 202…”10-Q · Aug 6, 2026 ↗
Valuation discipline
Price/sales 3.7× · EV/sales 4.7×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for TRGP. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
10-Q filed 2026-08-06 against the comparable filing from 2025-08-07.
Capital and cash conversion
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
No thresholded deterioration was identified.
“The increase was primarily due to the redemption of all of the Partnership’s 6.875% Notes due 2029 and higher trade receivables, partially offset by a higher outstanding balance on the Securitization Facility, a higher payables balance due to capital spending on growth projects, a lower NGL inventory balance, and higher product purchases and fuel payables.”
“The increase in growth capital expenditures was primarily due to higher construction activities during 2026.”
“The increase in net cash provided by operating activities was primarily due to a decrease in payments for product purchases resulting from lower natural gas and NGL prices, partially offset by lower collections from customers resulting from lower revenues in 2026 compared to 2025, and higher payments for operating costs, hedging activities, and interest on debt.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
Depended on by
“Navy, Capital Power Corp., Targa Resources Corp., Micron Technology Inc., SSE plc in the United Kingdom, Consolidated Power Projects (Pty) Ltd in South Africa, the Royal Canadian Navy in Canada, Fuji Bridex in Singapore, Copel Distribuição in Brazil and Ergon…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
TRGP is currently a Early Follower in the organic co-movement group Oil & Gas Midstream. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.