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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 announced a cash distribution of $0.1875 per Series A Preferred Unit for August 2020, totaling $2.25 annually. This distribution, effective September 15, 2020, will apply to all outstanding Series A Preferred Units held by investors on record as of August 31, 2020. Targa operates as a major midstream infrastructure provider, engaging in the gathering and transportation of natural gas and NGLs, among other services. The firm is subject to various risks, including market conditions affecting commodity prices and the impact of pandemics like COVID-19.
Targa Resources Corp. (NYSE: TRGP) announced participation in the Citi One-on-One Midstream/Energy Infrastructure Virtual Conference on August 12-13, 2020. The company's representatives will engage in investor meetings via video conference. Conference slides will be accessible on their website. Targa is a major provider of midstream services in North America, managing diverse infrastructure assets to process and transport natural gas and crude oil. For more details, visit www.targaresources.com.
Targa Resources Partners LP announced the pricing of an upsized offering of $1.0 billion in senior unsecured notes due 2031, with a 4.875% interest rate. The offering is set to close on August 18, 2020, and proceeds will fund a cash tender offer for existing 6.750% Senior Notes due 2024 and reduce borrowings under a credit facility. The notes have not been registered under the Securities Act and are available for trading by qualified institutional buyers.
Targa Resources Partners LP (NYSE: TRGP) announced plans to offer $750 million in senior unsecured notes due 2031, targeting qualified institutional buyers. The funds will be used for a cash tender offer to repurchase its 6 3/4% Senior Notes due 2024 and to reduce borrowings under its revolving credit facility. The offering aims to optimize financial structure and liquidity. The securities will not be registered under the Securities Act and are subject to market conditions.
Targa Resources Partners LP has initiated a cash tender offer to buy back all outstanding senior notes, specifically the 6.750% Senior Notes due 2024.
The total principal amount for these notes is $580,120,000, with a purchase price of $1,020.70 per $1,000 of notes. The tender offer will expire on August 17, 2020, and settlement is anticipated for August 18, 2020.
The offer is contingent on the completion of a contemporaneous notes offering. Accrued interest will also be paid to note holders.
Targa Resources Corp. (TRGP) reported a net income of $81 million for Q2 2020, a significant turnaround from a net loss of $10.2 million in Q2 2019. Adjusted EBITDA increased to $351.2 million, up from $306.5 million year-over-year. The company declared a $0.10 quarterly dividend, with total cash dividends of approximately $23.3 million expected. However, lower commodity prices and reduced production activity impacted financial performance. Targa increased its 2020 Adjusted EBITDA guidance to a range of $1.5 billion to $1.625 billion, driven by recovery in production volumes.
Targa Resources Corp. (NYSE: TRGP) has declared a quarterly cash dividend of $0.10 per common share and $23.75 per Series A preferred share for Q2 2020. The common dividend will be payable on August 17, 2020, to shareholders on record as of July 31, 2020. The preferred dividend will be paid on August 14, 2020. Additionally, Targa will report its Q2 2020 financial results on August 6, 2020, followed by a webcast at 11:00 a.m. ET. The company, a leading midstream service provider in North America, focuses on natural gas and crude oil operations.
Targa Resources Partners LP announced a monthly cash distribution of $0.1875 per Series A Preferred Unit for July 2020, amounting to an annualized rate of $2.25. The distribution will be paid on August 17, 2020 to holders of record as of July 31, 2020. Targa is recognized as a significant player in the midstream energy sector, engaging in natural gas and NGL services. The partnership's forward-looking statements note potential risks such as market conditions and pandemics impacting operations.
Targa Resources Corp. will participate in the J.P. Morgan Virtual Energy, Power & Renewables Conference on June 16-17, 2020. The investor meetings will be conducted via video conference, and the presentation slides will be accessible in the Investors section of Targa's website. Targa is a leading independent midstream energy company, engaged in various activities, including transporting and selling natural gas and crude oil. For more details, visit www.targaresources.com.
Targa Resources Corp. (NYSE: TRGP) announced the election of Ms. Lindsey M. Cooksen to its Board of Directors, increasing the board size to twelve members effective June 1, 2020. Cooksen, founder of Cooksen Wealth, brings extensive experience from Morgan Stanley and Citigroup, with expertise in wealth management and risk mitigation. CEO Matthew J. Meloy expressed confidence in her ability to contribute meaningful insights. This move is part of Targa's succession planning, aiming to enhance the board's financial acumen and investor perspectives.
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