Welcome to our dedicated page for Targa Resources news (Ticker: TRGP), a resource for investors and traders seeking the latest updates and insights on Targa Resources stock.
Targa Resources Corp. (symbol: TRGP) is a leading provider of midstream services in North America, known for its robust and diversified portfolio of midstream energy assets. The company primarily operates in the gathering and processing sector, with significant assets in key regions like the Permian, STACK, SCOOP, and Bakken plays.
Core Business: Targa Resources focuses on gathering and processing natural gas, natural gas liquids (NGLs), and crude oil. The company's operations include one of the largest fractionation capacities at Mont Belvieu and a strategically located liquefied petroleum gas (LPG) export terminal. An important asset in their portfolio is the Grand Prix natural gas liquids pipeline, which enhances their ability to transport and deliver energy products efficiently.
Recent Achievements: In the third quarter of 2023, Targa reported significant improvements compared to the same period in 2022, reflecting their effective operational strategies and market positioning. The company has consistently delivered strong financial performance, with notable increases in distributable cash flow and adjusted free cash flow.
Current Projects: Targa Resources is continually developing and acquiring new assets to expand its reach and capabilities. The company is involved in several ongoing projects aimed at enhancing their infrastructure and service offerings. These projects include expansions to existing pipelines and processing facilities to better serve their growing customer base.
Financial Condition: Targa's financial health remains robust, backed by strong earnings reports and strategic investments. As of the latest financial reports, the company demonstrates a solid balance sheet with steady revenue streams from its diversified operations.
Partnerships and Products: Targa Resources collaborates with various partners across the energy sector, leveraging these relationships to optimize their operations and service delivery. The company's product offerings include natural gas, NGLs, and crude oil, catering to a wide range of industrial and commercial customers.
Work Environment: Targa prides itself on creating a dynamic work environment that fosters learning, development, and growth. The company prioritizes safety and actively involves employees in continuous performance improvement initiatives. With a strong commitment to employee well-being, Targa supports its workforce in achieving their professional goals.
For more detailed information and the latest updates on Targa Resources Corp., visit their official website or check out recent news and events on platforms like StockTitan.
Targa Resources Corp. (NYSE: TRGP) has announced its participation in the BofA Securities Global Energy Conference in Houston, TX on Wednesday, November 13, 2024. Company representatives will engage in investor meetings during the conference. The presentation slides for these meetings will be accessible through the Investors section of Targa's website at targaresources.com.
Targa Resources Corp. (TRGP) reported strong Q3 2024 results with net income of $387.4 million, up from $220.0 million in Q3 2023. The company achieved record adjusted EBITDA of $1.07 billion, compared to $840.2 million in Q3 2023. Key highlights include record Permian, NGL transportation, and fractionation volumes, completion of the Daytona NGL Pipeline expansion, and $168 million in stock repurchases during Q3. The company expects full-year 2024 adjusted EBITDA to exceed $4.05 billion and plans to increase its annual common dividend by 33% to $4.00 per share in 2025.
Targa Resources Corp. (NYSE: TRGP) has released its Sustainability Report for 2023, highlighting key achievements in environmental, social, and governance areas. The report, available on the company's website, showcases Targa's commitment to sustainability and transparency.
Notable accomplishments include:
- A 19% decrease in Gathering & Boosting sector methane intensity
- Surpassing original methane intensity goals set through ONE Future participation
- Conducting aerial methane surveys across all gathering and processing assets
- Increasing methane monitoring frequency at compressor stations and gas plants
- Exporting approximately 5.6 billion gallons of LPG globally, potentially displacing higher GHG-emitting fuels
- Improving safety performance with a 25% decrease in Employee Total Recordable Incident Rate since 2021
- Receiving nine midstream safety recognition awards
- Maintaining a high level of local hiring and board independence
The report aligns with GRI Standards, IFRS, SASB Oil & Gas Midstream Standard, and TCFD guidelines, demonstrating Targa's commitment to recognized sustainability reporting frameworks.
Targa Resources Corp. (NYSE: TRGP) has announced its quarterly dividend for the third quarter of 2024. The company's board of directors has declared a quarterly cash dividend of $0.75 per common share, which equates to $3.00 per common share on an annualized basis. This dividend will be paid on November 15, 2024 to shareholders of record as of the close of business on October 31, 2024.
Additionally, Targa will report its third quarter 2024 financial results before the market opens on Tuesday, November 5, 2024. The company will host a live webcast at 11:00 a.m. Eastern Time to discuss these results. A webcast replay and quarterly earnings supplement presentation will be available on the company's website after the event.
Targa Resources Corp. (NYSE: TRGP) has announced its participation in the Barclays CEO Energy & Power Conference in New York, NY on September 4, 2024. Company representatives will engage in investor meetings during the event. To support these discussions, Targa will make presentation slides available to the public.
Interested parties can access these slides through the Investors section of Targa's official website at www.targaresources.com or directly via https://www.targaresources.com/investors/events. This move demonstrates Targa's commitment to transparency and investor relations, providing stakeholders with insights into the company's current position and future strategies in the energy sector.
Targa Resources Corp. (NYSE: TRGP) has announced its participation in the Citi One-on-One Midstream and New Energy Infrastructure Conference in Las Vegas, NV. The event is scheduled for August 13 and 14, 2024. Company representatives will engage in investor meetings during the conference.
To support these meetings, Targa will make presentation slides available to the public. These slides can be accessed through the Investors section of Targa's official website at www.targaresources.com or directly via the link https://www.targaresources.com/investors/events.
This participation highlights Targa's commitment to investor relations and transparency in its operations within the midstream and new energy infrastructure sectors.
Targa Resources Corp. (NYSE: TRGP) has announced the pricing of a $1.0 billion public offering of 5.500% Senior Notes due 2035. The notes are priced at 99.943% of their face value, with the offering expected to close on August 9, 2024. Targa plans to use the net proceeds for general corporate purposes, including:
- Repaying borrowings under its commercial paper note program
- Repaying the remaining $500.0 million of its prior $1.5 billion unsecured term loan facility due July 2025
- Potential repayment of other indebtedness
- Capital expenditures
- Additions to working capital
- Investments in subsidiaries
The offering is made pursuant to an effective shelf registration statement filed with the SEC.
Targa Resources Corp. (NYSE: TRGP) announced its second quarter 2024 results, with net income of $298.5 million, a decline from $329.3 million in Q2 2023. However, adjusted EBITDA reached a record $984.3 million, up from $789.1 million in the same quarter last year.
The company reported record volumes in the Permian, NGL transportation, and fractionation. Targa repurchased a record $355.1 million of common stock and announced a new $1.0 billion share repurchase program. The company revised its 2024 adjusted EBITDA outlook to $3.95-$4.05 billion, a 5% increase from previous estimates.
Significant capital expenditures are expected for new gas plants in the Permian Basin, totaling $2.7 billion for 2024. Targa's total consolidated debt stands at $13.57 billion with liquidity of $1.6 billion. Additionally, the company declared a quarterly dividend of $0.75 per share.
Future projects include new gas processing plants and collaboration in the Blackcomb Pipeline, which will transport 2.5 billion cubic feet of natural gas per day, expected to be operational in H2 2026.
Targa Resources Corp. (NYSE: TRGP) announced a quarterly cash dividend of $0.75 per common share for Q2 2024, translating to an annualized rate of $3.00 per share. The dividend will be paid on August 15, 2024, to shareholders on record as of July 31, 2024. Additionally, Targa will release its Q2 2024 financial results on August 1, 2024, before market open, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results. A replay of the webcast and related presentations will be available on the company's website shortly after the event.
Targa Resources Corp. (NYSE: TRGP) has announced significant organizational changes effective July 22, 2024. Jennifer R. Kneale, the current CFO, will be promoted to President - Finance and Administration, retaining her reporting line to CEO Matthew J. Meloy. William A. Byers will join Targa as the new CFO, reporting to Kneale. Byers brings over 20 years of experience in energy financing and management, having served as CFO at Manchester Energy and Navitas Midstream Partners. His background includes leadership in M&A and investment banking, with a solid academic foundation from the University of Pennsylvania. This strategic move aligns with Targa's long-term development plans and aims to leverage Kneale's and Byers's expertise to drive growth.
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