Targa Resources (TRGP) Capital Expenditures (2011 - 2026)
Targa Resources (TRGP) recorded Capital Expenditures of $1.01 billion in Q2 2026, up 11.5% from $906.1 million a year earlier and up 12.3% from the prior quarter.
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Analysis
Targa Resources (TRGP) Capital Expenditures (2011 - 2026) Analysis & Trends
On a TTM basis, Targa Resources' Capital Expenditures came in at $3.54 billion as of Jun 30, 2026, up 8.9% year-over-year; for FY2025, it was $3.33 billion, up 12.4% from FY2024.
- Annual Capital Expenditures has increased for four straight years, with a five-year compound annual growth rate of 28.5% (FY2020 to FY2025).
- Across earlier years, Capital Expenditures came in at $2.97 billion in FY2024 (+24.3%), $2.39 billion in FY2023 (+78.8%), $1.33 billion in FY2022 (+164.2%) and $505.1 million in FY2021 (-46.9%).
- The Q2 2026 figure is the highest quarterly Capital Expenditures since Q4 2018.
- On a year-over-year basis, Capital Expenditures has increased for three consecutive quarters, with growth averaging 15.0% over the last eight quarters.
- Peak year-over-year performance for Capital Expenditures in the last five years was growth of 222.7% in Q3 2022, against a decline of 34.5% in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $899.5 million (Q1 2026), $963.2 million (Q4 2025) and $671.8 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 2.15 Bn |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 1.16 Bn |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 1.56 Bn |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 982.00 Mn |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | -773.53 Mn |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 1.01 Bn |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 825.00 Mn |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 613.00 Mn |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 1.18 Bn |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 3.72 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.01 Bn |
| Mar 31, 2026 | 899.50 Mn |
| Dec 31, 2025 | 963.20 Mn |
| Sep 30, 2025 | 671.80 Mn |
| Jun 30, 2025 | 906.10 Mn |
| Mar 31, 2025 | 792.20 Mn |
| Dec 31, 2024 | 726.90 Mn |
| Sep 30, 2024 | 828.80 Mn |
| Jun 30, 2024 | 740.30 Mn |
| Mar 31, 2024 | 669.80 Mn |
| Dec 31, 2023 | 720.00 Mn |
| Sep 30, 2023 | 591.70 Mn |
| Jun 30, 2023 | 598.00 Mn |
| Mar 31, 2023 | 475.70 Mn |
| Dec 31, 2022 | 518.90 Mn |
| Sep 30, 2022 | 395.90 Mn |
| Jun 30, 2022 | 215.10 Mn |
| Mar 31, 2022 | 204.40 Mn |
| Dec 31, 2021 | 183.50 Mn |
| Sep 30, 2021 | 122.70 Mn |
API Access
Targa Resources Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=TRGP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "TRGP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=TRGP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();