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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 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.
Targa Resources Corp. (NYSE: TRGP) will participate in the UBS Winter Infrastructure & Energy Conference via video conference on January 13, 2021. Investors can access presentation slides in the Investors section of Targa's website. The company is a leading provider of midstream services in North America, focusing on natural gas and NGLs. Targa operates infrastructure for gathering, processing, and transporting energy resources.
Targa Resources Corp. (NYSE: TRGP) announced the retirement of Paul W. Chung from the management team, appointing him as Chairman of the Board of Directors as of January 1, 2021. Joe Bob Perkins also retired from management but remains on the Board. Chung has extensive experience in the energy sector, having served in various legal and executive roles since 2004. Targa is a prominent midstream service provider, engaging in gathering, processing, and selling natural gas, NGLs, and crude oil.
Targa Resources Corp. (NYSE: TRGP) announced participation in the Wells Fargo Virtual Midstream and Utility Symposium on December 8, 2020. The Company will conduct investor meetings via video conference. Interested parties can access presentation slides in the Investors section of Targa's website. Targa is a significant player in midstream services, focusing on diverse infrastructure assets for natural gas, NGLs, and crude oil. The company emphasizes its commitment to transparency and provides regular updates through SEC filings.
Targa Resources Partners LP announced plans to redeem its $125 million worth of 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units on December 21, 2020. This decision aligns with the company’s strategy to simplify its capital structure and enhance free cash flow. The redemption includes a price of $25.00 per share alongside any unpaid distributions. Following this event, the Series A Preferred Units will cease trading on the NYSE, and rights of the shareholders will terminate, save for the right to receive the redemption consideration.
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