Targa Resources

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities, and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value-added services such as the storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters, and the storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005, and is headquartered in Houston, TX.

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Targa Resources excels in Q4, eyes growth amid challenges

Targa Resources delivered exceptional performance in Q4 2022, with a robust outlook for 2023 driven by growth initiatives and strategic focus on returns.
While facing challenges like inflation pressures and hedge impacts, Targa remains agile in optimizing investments and maintaining capital efficiency.
The company's strengths lie in its operational successes, strong financial discipline, and strategic positioning for future growth opportunities.

Targa Resources reports robust Q1 performance amidst growth opportunities

Targa Resources Corp. demonstrated solid financial performance in Q1 2023, driven by record volumes and strategic investments. While facing challenges such as commodity price fluctuations and operational issues, the company's strong balance sheet and growth initiatives position it well for the future.

Targa Resources posts record Q2 volumes, eyes growth opportunities

Targa Resources reports strong Q2 performance with record volumes and strategic investments in Permian operations.
Maintaining financial strength and flexibility, the company is poised for growth with a focus on shareholder value.
Challenges include managing pricing dynamics and balancing leverage for future investments and returns.

Targa Resources reports strong Q3 performance and eyes dividend growth

Targa Resources demonstrated robust performance with record volumes and increased EBITDA, underpinned by strategic expansions and operational efficiencies.
While facing challenges like shifting gas volumes, the company's focus on profitability optimization and growth avenues positions it well for the future.
Opportunities lie in dividend growth, EBITDA expansion, and market connectivity, showcasing Targa's commitment to shareholder value and sustainable growth.

Targa Resources achieves record performance in 2023, eyes Permian growth

Targa Resources reported record performance in 2023 and expects continued growth in Permian volumes for 2024.
The company is focused on capital spending for Permian projects, dividend increases, and share repurchases.
Challenges include long lead times for equipment and supply chain issues, but proactive measures are in place.
Opportunities lie in fee-based revenue growth, downstream investments, and evaluating strategic infrastructure projects.

Targa Resources reports record earnings, eyes expansion amid market challenges

Targa Resources delivered strong financial performance in Q1 2024, driven by record EBITDA and operational achievements.
Despite challenges like weather impacts and pricing dynamics, Targa's strategic initiatives and growth projects position it for future success.
The company's focus on expansion, infrastructure development, and market responsiveness underscores its commitment to long-term growth and stability.

Targa Resources Corp reports record Q2 earnings and strategic growth

Targa Resources Corp delivered a stellar second quarter performance, marked by record volumes and financial achievements, setting the stage for continued success.
Despite facing challenges in managing capital spending and growth expectations, the company's strong balance sheet and strategic focus on shareholder returns provide a solid foundation for growth.
Opportunities lie in strategic investments like the Blackcomb pipeline joint venture and continued growth in the Permian, positioning Targa for sustained success in the energy sector.

Targa Resources (TRGP) excels in Q3, plans for growth and sustainability

Targa Resources (TRGP) reported outstanding Q3 results, exceeding guidance and demonstrating operational excellence in key regions. The company's focus on capital allocation priorities, including increasing shareholder returns and sustainability initiatives, reflects a commitment to long-term value creation. While challenges may arise from expansion plans, Targa Resources is poised to leverage growth opportunities and tax incentives for continued success.

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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the Gathering and Processing and Logistics and Transportation segments. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities, and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment focuses on the activities necessary to convert mixed NGLs into NGL products and provides certain value-added services such as the storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters, and the storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded in October 2005 and is headquartered in Houston, TX.

Unlike many midstream companies, Targa Resources set several records in 2020, and EBITDA grew, the culmination of years of planning.

Targa Resources: Rewarding Shareholders

HOUSTON, March 02, 2021 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”) today announced it has completed the 2020 tax packages for the holders of Targa Resources Partners 9% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred (“Series A Preferred Units”), including Schedules K-1.

Targa Resources Partners LP Announces 2020 Schedules K-1 Available

Targa Resources Corp. (TRGP) CEO Matt Meloy on Q4 2020 Results - Earnings Call Transcript

Targa Resources' (TRGP) fourth-quarter 2020 distributable cash flow (DCF) of $293.9 million is 10.3% less than $327.8 million in the year-ago period.

Targa Resources (TRGP) Q4 Earnings Miss Estimates, Rise Y/Y

HOUSTON, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRC" or the "Company") and Targa Resources Partners LP ("Targa Resources Partners" or the "Partnership") have filed their respective Form 10-Ks with the Securities and Exchange Commission (SEC) for the year ended December 31, 2020. The reports may be accessed at www.sec.gov.

Targa Resources Corp. and Targa Resources Partners Announce Form 10-Ks Available

Shares of Targa Resources (NYSE:TRGP) remained unaffected after the company reported Q4 results. Quarterly Results Earnings per share were up 236.36% year over year to $0.15, which missed the estimate of $0.25.

Recap: Targa Resources Q4 Earnings

HOUSTON, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRC”, the “Company” or “Targa”) today reported fourth quarter and full year 2020 results.

Targa Resources Corp. Reports Fourth Quarter and Full Year 2020 Financial Results and Provides 2021 Operational and Financial Outlook

Targa Resources (TRGP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Earnings Season Could Be Great for Targa Resources (TRGP)

HOUSTON, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP) announced that it continues to expect to report its fourth quarter 2020 financial results before the market opens for trading on Thursday, February 18, 2021, but as a result of the impacts of severe winter weather, is rescheduling its live webcast to discuss fourth quarter and full year 2020 results to Tuesday, February 23, 2021 at 12:00 p.m. Eastern Time (11:00 a.m. Central Time).

Targa Resources Corp. Reschedules Timing of Fourth Quarter 2020 Earnings Webcast Due to Impacts of Severe Winter Weather

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When a broker upgrades a stock, you can rely on their judgment. Hence, we select Pilgrim's Pride (PPC), Century Communities (CCS), Synaptics (SYNA), Targa Resources (TRGP) and Artisan Partners (APAM) as these witness ratings upgrade.

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HOUSTON, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE:TRGP) announced today that its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its 5 1/8% senior notes due 2025 (the “2025 Notes”) expired at 5:00 p.m., New York City time, on February 1, 2021, (the “Expiration Time”). As of the Expiration Time, $152,123,000 aggregate principal amount of the 2025 Notes (31.63%) were validly tendered, which excludes $5,816,000 aggregate principal amount of the 2025 Notes that remain subject to guaranteed delivery procedures. Targa Resources Partners expects to accept for payment all such 2025 Notes validly tendered and not validly withdrawn in the Tender Offer and expects to make payment for the 2025 Notes on February 2, 2021, subject to Targa Resources Partners' successful completion of its previously announced debt financing transaction (the “Financing Condition”). Concurrently with the launch of the Tender Offer, Targa Resources Partners exercised its right to optionally redeem any 2025 Notes not validly tendered and purchased in the Tender Offer, pursuant to the terms of the Indenture relating to the 2025 Notes, conditioned upon and subject to satisfaction of the Financing Condition.

Targa Resources Partners LP Announces Expiration and Final Results of Tender Offer for Its 5 1/8% Senior Notes due 2025

Targa's price nearly doubled since the end of October. But that appreciation is far from done.

Targa: Quality Is Shining, Another Double Is On The Way

HOUSTON, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the U.S. Capital Advisors Midstream Conference via video conference on Tuesday, January 26, 2021.

Targa Resources Corp. to Participate in U.S. Capital Advisors Midstream Conference

HOUSTON, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP) announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the fourth quarter of 2020.

Targa Resources Corp. Announces Quarterly Dividends and Timing of Fourth Quarter 2020 Earnings Webcast

HOUSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the Partnership's subsidiary Targa Resources Partners Finance Corporation announced today the pricing of an upsized offering of $1.0 billion in aggregate principal amount of senior unsecured notes due 2032 (the “2032 Notes”). The 2032 Notes will accrue interest at a rate of 4% per annum, will mature on January 15, 2032, and were priced at par.

Targa Resources Partners LP Prices Upsized $1.0 Billion Offering of Senior Notes

HOUSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE:TRGP) announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes listed in the following table upon the terms and conditions described in the Partnership's Offer to Purchase dated January 19, 2021 (the “Offer to Purchase”).

Targa Resources Partners LP Announces Tender Offer for Its 5.125% Senior Notes due 2025

HOUSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the Partnership's subsidiary Targa Resources Partners Finance Corporation announced today that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States pursuant to Regulation S under the Securities Act, $750.0 million in aggregate principal amount of senior unsecured notes due 2032. The Partnership intends to use a portion of the net proceeds from the offering to fund the concurrent cash tender offer (the “Tender Offer”) to purchase for cash, subject to certain conditions, any and all of the Partnership's 5 1/8% Senior Notes due 2025 (the “2025 Notes”), to pay fees, expenses and premiums thereof, and to redeem any 2025 Notes that remain outstanding after consummation of the Tender Offer. The Partnership will use the remaining net proceeds from the offering to reduce borrowings under the credit facilities of the Partnership and Targa Resources Corp. The offering is not conditioned on the consummation of the Tender Offer. The Tender Offer is conditioned on, among other things, the offering.

Targa Resources Partners LP Announces $750.0 Million Offering of Senior Notes

Targa Resources massively reduced their dividends in early 2020 in order to focus on deleveraging but has since talked up share buybacks. Management is still speaking of focusing on deleveraging but this obviously pulls in the complete opposite direction.

Targa Resources: Even Higher Buybacks Possible, No Material Deleveraging In Sight

Investors need to pay close attention to Targa Resources (TRGP) stock based on the movements in the options market lately.

Are Options Traders Betting on a Big Move in Targa Resources (TRGP) Stock?

HOUSTON, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the Wells Fargo Virtual Midstream and Utility Symposium via video conference on Tuesday, December 8, 2020.

Targa Resources Corp. to Participate in Wells Fargo Virtual Midstream and Utility Symposium

Targa Resources' (TRGP) third-quarter 2020 distributable cash flow (DCF) of $294.7 million is 28.2% more than $229.9 million in the year-ago period.

Targa Resources (TRGP) Surges 48.1% Since Q3 Earnings Beat

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Midstream Hosts Another Large Gathering

HOUSTON, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP) (the “Company”), today announced that it intends to redeem all $125 million of its 5,000,000 issued and outstanding 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Series A Preferred Units”) (CUSIP: 87611X 204). Series A Preferred Units held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company. The redemption of the Series A Preferred Units is consistent with the Company's ongoing efforts to simplify its capital structure and to identify opportunities to generate additional free cash flow by enabling the Company to realize significant annual cash savings associated with both the redemption and the lower general and administrative expenses attributable to reduced administrative requirements, with 2020 being the final year tax packages, including Schedule K-1s, would need to be prepared by the Company.

Targa Resources Partners LP Announces Full Redemption of 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

HOUSTON, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”) (NYSE: NGLS PR A) announced its monthly distribution on the Partnership's 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units ("Series A Preferred Units") for November 2020. Per the original terms of the Series A Preferred Units, effective November 1, 2020, distributions on the Series A Preferred Units converted from a fixed rate to an annual floating rate equal to the one-month LIBOR plus a spread of 7.71%.

Targa Resources Partners LP Announces Monthly Distribution on Preferred Units

Targa Resources Corp (TRGP) CEO Matt Meloy on Q3 2020 Results - Earnings Call Transcript

News for Targa Resources Stock (TRGP)