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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) will engage in investor meetings via video conference at the Evercore ISI Elite Energy & Materials Summit on March 9, 2022. Interested parties can access the presentation slides in the Investors section of the Targa website. Targa is recognized as one of the largest independent midstream infrastructure firms in North America, facilitating the gathering, processing, and transport of natural gas, NGLs, and crude oil. The company is a FORTUNE 500 entity and is included in the S&P 400.
Targa Resources Corp. (NYSE: TRGP) will participate in two key investor conferences: the Morgan Stanley Energy & Power Conference on March 1, 2022, and the Barclays Investment Grade Energy & Pipeline Corporate Day on March 2, 2022. Conference slides will be available on Targa's website in the Investors section. Targa is a leading provider of midstream services in North America, focusing on the transportation and processing of natural gas and NGLs, and is included in the S&P 400 and FORTUNE 500 lists.
Targa Resources Corp. (NYSE: TRGP) has filed its Form 10-K for the year ending December 31, 2021, with the SEC. The report highlights the company's midstream services, emphasizing its role as a key player in the independent midstream infrastructure sector in North America. Targa manages a diversified portfolio that facilitates the delivery of natural gas and natural gas liquids. The Form 10-K is accessible on the SEC's website and Targa’s investor relations page. Shareholders can request hard copies from the investor relations department.
Targa Resources Corp. reported a Q4 2021 net loss of $(313.6) million, primarily due to a $452.3 million non-cash impairment, contrasting with a profit of $33.6 million in Q4 2020. Full-year net income stood at $71.2 million, a recovery from a $1.6 billion loss in 2020. Adjusted EBITDA for Q4 2021 was $570.6 million, up 13% quarter-over-quarter, driven by higher commodity prices and increased volumes. Targa declared a $0.35 dividend per share, amounting to $80 million in total payouts. The company anticipates 2022 adjusted EBITDA between $2.3 billion and $2.5 billion, reflecting a positive growth outlook.
Targa Resources Corp. (NYSE: TRGP) has executed agreements to sell its 25% equity interest in the Gulf Coast Express Pipeline for $857 million. The transaction is set to close in the second quarter of 2022, following a customary call right period for other GCX members. J.P. Morgan is the financial advisor, with Vinson & Elkins LLP providing legal counsel for the transaction. Targa remains a key player in midstream services across North America, facilitating energy delivery through its diverse portfolio of infrastructure assets.
Targa Resources Corp. (NYSE: TRGP) has declared a quarterly cash dividend of $0.35 per common share for Q4 2021, set to be paid on February 15, 2022. This marks a significant 350% increase from the previous quarter. Additionally, a dividend of $23.75 per Series A preferred share will also be distributed on February 14, 2022. The company will release its Q4 2021 financial results before the market opens on February 24, 2022, followed by a live webcast at 11:00 a.m. ET.
Targa Resources Corp. (NYSE: TRGP) has announced agreements to repurchase interests in its development company joint ventures from Stonepeak Partners for approximately $925 million. The acquisition, scheduled to close on January 14, 2022, will enhance Targa's ownership interests to 75% in the Grand Prix NGL Pipeline, 100% in the Train 6 fractionator, and 25% in the Gulf Coast Express Pipeline. This strategic move is projected to yield full-year Adjusted EBITDA and cash flows in 2022, boosting Targa's operational efficiency and financial performance.
Targa Resources Corp. (NYSE: TRGP) will participate in investor meetings via video conference at the UBS Winter Infrastructure & Energy Virtual Conference on January 11, 2022. Conference slides will be available on the Company’s website. Targa is a prominent midstream services provider in North America, owning diverse infrastructure assets critical for energy delivery. The Company is a FORTUNE 500 member and part of the S&P 400, emphasizing natural gas and NGLs connections to domestic and international markets.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video conference at the Wells Fargo Midstream Utilities & Renewables Symposium on December 8, 2021. A copy of the presentation slides will be available on the Company's website. Targa is a leading provider of midstream services in North America, operating a diversified portfolio of assets critical for energy delivery. The Company is a FORTUNE 500 entity and is included in the S&P 400, connecting natural gas and NGLs to various markets.
Targa Resources Corp. (NYSE: TRGP) has launched an open season from November 18 to December 17, 2021, to assess shipper interest in committed interstate transportation services for natural gas liquids (NGLs). The project will connect upstream pipeline facilities in Oklahoma to Mont Belvieu, Texas. Shippers are encouraged to submit a Non-Disclosure Agreement by November 23 to evaluate the open season documents. The final capacity will be determined based on the response to this open season, affecting both committed and uncommitted service options.
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