Welcome to our dedicated page for Targa Res news (Ticker: TRGP), a resource for investors and traders seeking the latest updates and insights on Targa Res 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 priced an underwritten public offering of $2.0 billion in senior notes, consisting of $1.0 billion of 5.550% Senior Notes due 2035 and $1.0 billion of 6.125% Senior Notes due 2055. The notes are priced at 99.610% and 99.781% of face value, respectively.
The offering is expected to close on February 27, 2025, subject to customary closing conditions. Targa plans to use approximately $1.8 billion of the proceeds to repurchase all outstanding preferred equity in Targa Badlands from its joint venture partner. This transaction, expected to close in Q1 2025 with an effective date of January 1, 2025, will give Targa full ownership of its North Dakota assets.
The remaining proceeds will be used for general corporate purposes, including repaying borrowings under its commercial paper program. If the Badlands Transaction doesn't complete, all proceeds will go toward general corporate purposes, debt repayment, capital expenditures, working capital, and subsidiary investments.
Targa Resources Corp. (NYSE: TRGP) has announced the filing of its Form 10-K with the Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2024. The annual report is accessible through multiple channels, including the SEC's website (www.sec.gov), Targa's investor relations website (www.targaresources.com), and directly through their SEC filings page.
Shareholders and interested parties can also request free hard copies of the report by contacting Targa's investor relations department via email at investorrelations@targaresources.com or by phone at (713) 584-1133.
Targa Resources (TRGP) reported strong Q4 and full-year 2024 results, with record adjusted EBITDA of $4.1 billion for 2024, up 17% from 2023. Q4 net income was $351.0 million, with adjusted EBITDA of $1.1 billion.
The company achieved record volumes across Permian, NGL transportation, fractionation, and LPG exports. Key operational highlights include completing the 275 MMcf/d Greenwood II plant and 120 MBbl/d Train 10 fractionator, plus commencing operations of the Bull Moose plant.
Looking ahead, TRGP estimates 2025 adjusted EBITDA between $4.65-4.85 billion, a 15% increase over 2024. The company announced plans to increase its quarterly dividend to $1.00 per share ($4.00 annualized) starting Q1 2025, representing a 33% increase. Additionally, TRGP announced a $1.8 billion refinancing of Badlands preferred equity and new growth projects including Delaware Express pipeline expansion, Train 12 fractionator, and GPMT LPG Export Expansion.
Targa Resources Corp. (NYSE: TRGP) has announced its quarterly dividend for Q4 2024, declaring a cash dividend of $0.75 per common share ($3.00 annualized), payable on February 14, 2025, to shareholders of record as of January 31, 2025.
The company plans to recommend to its Board of Directors an increase in the common dividend to $1.00 per share ($4.00 annualized) for Q1 2025, effective for payment in May 2025.
Targa will release its Q4 2024 financial results before market opening on February 20, 2025, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results.
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.
FAQ
What is the current stock price of Targa Res (TRGP)?
What is the market cap of Targa Res (TRGP)?
What services does Targa Resources Corp. provide?
Where are Targa Resources' main operational regions?
What are some recent achievements of Targa Resources?
What is the Grand Prix pipeline?
How does Targa Resources support its employees?
What is Targa's fractionation capacity?
How does Targa ensure continuous performance improvement?
Where can I find the latest news on Targa Resources?
What are Targa's major financial highlights for 2023?
When is Targa's next earnings webcast?
