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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 participation in key investor conferences on November 16 and 17, 2021. The company will present at the RBC Capital Markets Midstream and Energy Infrastructure Conference and the Bank of America Virtual Global Energy Conference. Attendees can access presentation slides on Targa's investors' webpage. Targa is a leader in midstream services, owning a diverse portfolio essential for energy delivery in the U.S. and globally, and is included in the FORTUNE 500 and S&P 400.
Targa Resources Corp. (TRGP) reported strong Q3 2021 results with net income of $182.2 million, significantly up from $69.3 million year-over-year. Adjusted EBITDA reached $505.9 million, a 21% increase from $419.1 million in Q3 2020. The company now estimates 2021 adjusted EBITDA will exceed $2.0 billion. A quarterly dividend of $0.10 per share was declared, with plans to increase it to $0.35 starting Q4 2021. Targa's capital allocation strategy aims to return capital to shareholders through dividend increases and share repurchases, supported by healthy liquidity exceeding $3.1 billion.
Targa Resources Corp. (NYSE: TRGP) has entered into a long-term power purchase agreement with Concho Valley Solar to source renewable electricity for its natural gas processing operations in the Permian Basin. The 160 MWac solar project, located near San Angelo, Texas, is set to begin delivering clean energy in Q4 2022. This initiative supports Targa's sustainability efforts aimed at reducing emissions intensity. The project is expected to create about 150 jobs during construction and generate additional revenue for local taxing entities.
Targa Resources Corp. (NYSE: TRGP) announced a quarterly cash dividend of $0.10 per common share, amounting to $0.40 annually, for Q3 2021. This dividend will be paid on November 15, 2021, to shareholders of record as of October 29, 2021. Additionally, a $23.75 dividend per Series A preferred share will be distributed on November 12, 2021. Targa will report its Q3 financial results on November 4, 2021, followed by a live earnings webcast.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video at the Wolfe Research Utilities, Midstream & Clean Energy Conference on September 30, 2021. A copy of the presentation slides will be accessible on the Company’s website under the Investors section. Targa is a leading provider of midstream services, owning a diversified portfolio of infrastructure related to natural gas and NGLs. The Company is included in the S&P 400 and is a FORTUNE 500 entity.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video conference at the Barclays CEO Energy-Power Conference on September 8, 2021. The company will share slides from these meetings in the Investors section of its website. Targa is a major player in midstream services, operating a diversified portfolio of infrastructure assets, including natural gas and crude oil operations. As a Fortune 500 company, Targa is recognized for its substantial impact in North America's energy sector.
Targa Resources Corp. (NYSE: TRGP) announced its participation in two upcoming investor conferences via video conference. The conferences include the Goldman Sachs Power, Utilities, MLPs and Pipelines Conference on August 11, 2021, and the Citi One-on-One Midstream / Energy Infrastructure Conference on August 18, 2021. Conference slides will be available in the Investors section of Targa's website. Targa is a leading provider of midstream services in North America, and is included in the S&P 400.
Targa Resources Corp. (TRGP) reported a second-quarter net income of $56.2 million, down 31% year-over-year, alongside an Adjusted EBITDA of $460.0 million, a 31% increase compared to the previous year. The company declared a quarterly dividend of $0.10 per share, totaling $23.3 million, payable on August 16, 2021. Total revenues surged 124% to $3.42 billion, primarily driven by higher commodity prices and volumes. However, Adjusted EBITDA decreased 11% sequentially due to lower marketing margins. Targa anticipates a 2021 Adjusted EBITDA between $1.9 billion and $2.0 billion.
Targa Resources Corp. (NYSE: TRGP) declared a cash dividend of $0.10 per common share for Q2 2021, amounting to $0.40 annualized, payable on August 16, 2021. The quarterly cash dividend for Series A preferred shares is $23.75, payable on August 13, 2021. The company will release its second quarter financial results on August 5, 2021, followed by a live webcast discussing the results.
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