Targa Resources (TRGP) reported Q1 net income Thursday of $200 million, down from $275.2 million a year earlier.
Analysts polled by FactSet expected $434.2 million.
Revenue for the quarter ended March 31 was $4.56 billion, unchanged from a year earlier.
Four analysts surveyed by FactSet expected $4.9 billion.
The company's shares were down 2.6% in recent premarket activity.
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