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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 Partners LP has completed the 2020 tax packages for holders of its 9% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, including Schedules K-1. The tax packages are accessible online via the Partnership's website and are expected to be mailed out during the week of March 1, 2021. Notably, these are the final tax packages for the Series A Preferred Units, which were redeemed on December 21, 2020.
Targa Resources Corp. (NYSE: TRGP) is participating in the Morgan Stanley Energy & Power Conference on March 2, 2021, via video conference. The investor meetings will provide insights into the Company's midstream services and infrastructure operations. Interested investors can access the presentation slides on Targa's website. Targa is a major player in the midstream sector, offering services like gathering, processing, and transporting natural gas and crude oil. For further details, visit www.targaresources.com.
Targa Resources Corp. (NYSE:TRGP) has filed its Form 10-K for the year ending December 31, 2020, with the SEC, detailing its financial performance and operations. Investors can access the reports online at the SEC's website and Targa's investor relations page. Targa is a key player in the midstream services sector, operating across various segments, including natural gas and NGLs. The company focuses on gathering, processing, and transporting these resources, positioning itself as one of the largest independent midstream infrastructure entities in North America.
Targa Resources Corp. (TRGP) reported a fourth quarter 2020 net income of $33.6 million, significantly improving from a loss of $112.8 million in Q4 2019. For the full year, Targa's net loss narrowed to $1,553.9 million compared to $209.2 million in 2019, influenced by a total impairment charge of $2.4 billion. Adjusted EBITDA for Q4 2020 was $438.1 million, down from $465.2 million the previous year but reflecting a 5% increase from Q3 2020. The quarterly dividend was declared at $0.10 per share. Targa estimates a full-year 2021 Adjusted EBITDA between $1.675 billion and $1.775 billion.
Targa Resources Corp. (NYSE: TRGP) announced a rescheduling of its fourth quarter 2020 earnings webcast to February 23, 2021, due to severe winter weather. The financial results will still be reported prior to market opening on February 18, 2021. The webcast will start at 12:00 p.m. Eastern Time and will cover the Company's financial performance for the quarter and full year 2020. For further information, the webcast will be available on the Targa Resources website, and a replay will be accessible two hours post-event.
Targa Resources Corp. (NYSE: TRGP) announced participation in the U.S. Capital Advisors Midstream Conference via video on January 26, 2021. The event aims to engage investors and discuss the company's midstream services. A copy of the presentation slides will be available on the company's investor website. Targa Resources is a major player in North America's midstream infrastructure, specializing in gathering, processing, and transporting natural gas and NGLs, along with crude oil services.
Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.10 per common share and $23.75 per Series A preferred share for Q4 2020. The common share dividend, amounting to $0.40 annually, will be payable on February 16, 2021, to shareholders on record as of February 1, 2021. Meanwhile, the preferred share dividend will be paid on February 12, 2021.
The company will announce its fourth quarter financial results on February 18, 2021, with a webcast available for investors to follow.
Targa Resources Partners LP announced an upsized offering of $1.0 billion in senior unsecured notes due 2032, accruing interest at 4% per annum. The offering is set to close on February 2, 2021. Proceeds will be used for a cash tender offer for its 5 1/8% Senior Notes due 2025, plus associated fees and to reduce borrowings under existing credit facilities. The offering is not contingent on the tender offer's completion. The securities are not registered under the Securities Act and may only be offered in compliance with relevant exemptions.
Targa Resources Partners LP plans to offer $750 million in senior unsecured notes due 2032 to qualified institutional buyers under Rule 144A and Regulation S. Proceeds will fund a cash tender offer for its 5 1/8% Senior Notes due 2025 and reduce borrowings under credit facilities. The offering is not contingent on the Tender Offer, which is subject to certain conditions. The notes will be eligible for trading by qualified institutional buyers and non-U.S. persons. The offering emphasizes Targa's strategy to optimize its debt structure.
Targa Resources Partners LP announced a cash tender offer to purchase all outstanding senior notes, specifically the 5.125% Senior Notes due 2025, totaling approximately $481 million. The purchase price is set at $1,026.88 per $1,000 of notes, with accrued interest included. The offer expires on February 1, 2021, and is contingent upon the completion of a concurrent notes offering. The settlement for accepted notes is expected on February 2, 2021. Targa has engaged BofA Securities as the exclusive Dealer Manager for this transaction.
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