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.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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.

Crestwood Equity Partners

DCP Midstream

Enterprise Products Partners

Summary The Permian's abundant resources, favorable economics, established infrastructure, and relative proximity to end markets will result in continued volume growth. While some of the largest public Permian producers are only growing modestly, the integrated majors and private exploration and production companies will play a significant role in driving production growth.

Strong Permian Outlook Favorable for Midstream

HOUSTON, July 29, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that one of its wholly-owned subsidiaries has completed the previously announced acquisition of Lucid Energy Delaware, LLC (“Lucid”) for $3.55 billion. This acquisition extends and further strengthens Targa's position in the core of the Delaware Basin.

Targa Resources Corp. Completes Acquisition of Lucid Energy

The consensus price target hints at a 36.2% upside potential for Targa Resources, Inc. (TRGP). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts See a 36% Upside in Targa Resources, Inc. (TRGP): Can the Stock Really Move This High?

Good things could be on the horizon when a stock surpasses the 200-day simple moving average. How should investors react?

Targa Resources, Inc. (TRGP) Just Reclaimed the 200-Day Moving Average

Apple

Hibbett Sports

Toyota Motor

Inflation is unlikely to come down anytime soon, and the U.S. dollar is seen as a currency with the least risk among large developed countries, which is likely to result in the dollar heading higher for the foreseeable future.

These Stocks Will Benefit From A Stronger Dollar

HOUSTON, July 14, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the second quarter of 2022.

Targa Resources Corp. Announces Quarterly Dividend and Timing of Second Quarter 2022 Earnings Webcast

TRGP recently acquired Lucid Energy Delaware for $3.55 billion. The deal adds gathering and processing assets and will increase throughput in its downstream assets.

Updating Our Targa Resources Valuation After Its Lucid Energy Acquisition

HOUSTON, June 22, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP), announced today the pricing of an underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 5.200% senior notes due 2027 (the “2027 notes”) and $500 million aggregate principal amount of its 6.250% senior notes due 2052 (the “2052 notes” and, together with the 2027 notes, the “notes”) at a price to the public of 99.849% and 99.773% of their face value, respectively. The Offering is expected to close on July 7, 2022, subject to customary closing conditions.

Targa Resources Corp. Prices $1.25 Billion Offering of Senior Notes

Targa Resources (TRGP) looks to expand its Permian Basin footprint with the $3.55-billion acquisition of Lucid Energy.

Targa (TRGP) to Buy Lucid Energy in a $3.55B Transaction

Over the past year, Targa Resources has improved its balance sheet and grown distributable cash flow. Strong commodity prices have goosed its returns.

Targa Resources: Back In The Buy Zone

HOUSTON and DALLAS and NEW YORK, June 16, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) and Lucid Energy Group, a leading privately held natural gas processor in the Permian Basin, announced today a definitive agreement under which a wholly-owned subsidiary of Targa will acquire Lucid Energy Delaware, LLC (“Lucid”) from Riverstone Holdings LLC (“Riverstone”) and Goldman Sachs Asset Management (“Goldman Sachs”), for $3.55 billion in cash.

Targa Resources Corp. to Acquire Lucid Energy from Riverstone Holdings and Goldman Sachs Asset Management for $3.55bn; Provides Updated 2022 Standalone Financial Outlook

HOUSTON, June 06, 2022 (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 Bank of America Energy Credit Conference on Wednesday, June 8, 2022 in New York City.

Targa Resources Corp. to Participate in Bank of America Energy Credit Conference

Targa Resources' (TRGP) share price dips after its first-quarter earnings and revenues lag the consensus mark.

Targa (TRGP) Stock Down 2% Since Q1 Earnings & Sales Miss

BOSTON , May 17, 2022 /PRNewswire/ -- ArcLight Capital Partners, LLC and affiliates (collectively, "ArcLight") announced today that it has completed the acquisition of a wholly-owned subsidiary of Targa Resources Corp. (NYSE: TRGP) ("Targa") that owns a 25% equity interest in Gulf Coast Express Pipeline ("GCX") for $857 million. GCX is a premier, natural gas pipeline with 2.02 Bcf/d of capacity that is underpinned by a diverse array of shippers under long-term, committed contracts.

ArcLight Completes Acquisition of a 25% Interest in the Gulf Coast Express Pipeline

Targa Resources reported strong first-quarter results on the financial and operational fronts. In recent months, management has proven superb at allocating capital for shareholders.

Targa Resources' Capital Allocation Prowess Is Creating Value For Shareholders

Targa Resources Corp (NYSE:TRGP ) Q1 2022 Earnings Conference Call May 5, 2022 11:00 AM ET Company Participants Sanjay Lad - VP, Finance & IR Matthew Meloy - CEO & Director Jennifer Kneale - CFO Patrick McDonie - President, Gathering & Processing Scott Pryor - President of Logistics & Transportation Robert Muraro - Chief Commercial Officer Conference Call Participants Theresa Chen - Barclays Bank Jeremy Tonet - JPMorgan Chase & Co. Colton Bean - Tudor, Pickering, Holt & Co. Harry Mateer - Barclays Bank Spiro Dounis - Crédit Suisse John Mackay - Goldman Sachs Group Sunil Sibal - Seaport Research Partners Robert Mosca - Mizuho Securities Michael Blum - Wells Fargo Securities Brian Reynolds - UBS Investment Bank Indraneel Mitra - Bank of America Merrill Lynch Keith Stanley - Wolfe Research Operator Ladies and gentlemen, thank you for standing by, and welcome to Targa Resources Corp. First Quarter 2022 Earnings Webcast and Presentation. [Operator Instructions].

Targa Resources Corp (TRGP) CEO Matthew Meloy on Q1 2022 Results - Earnings Call Transcript

HOUSTON, May 05, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported first quarter 2022 results.

Targa Resources Corp. Reports First Quarter 2022 Financial Results

Targa Resources, Inc. (TRGP) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

Here's Why Targa Resources, Inc. (TRGP) Could be Great Choice for a Bottom Fisher

Targa Resources (TRGP) completes the earlier announced acquisition, which was to be closed by the second quarter of 2022.

Targa (TRGP) Completes $200 Million Southcross Energy Takeover

Targa Resources continued to defy expectations with a very strong performance during 2021, which helped see their dividends being increased by 250%. Their financial performance is expected to see another strong increase once again during 2022 with forecast double-digit earnings growth.

Targa Resources: More Dividend Growth Coming, Could Even Quadruple Next Year

HOUSTON, April 21, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has completed the previously announced acquisition of Southcross Energy Operating LLC and its subsidiaries in South Texas.

Targa Resources Corp. Completes Acquisition of Bolt-On Assets

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Why Targa Resources, Inc. (TRGP) is a Top Momentum Stock for the Long-Term

HOUSTON, April 18, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP), a Delaware corporation (the “Company”), today announced that it will deliver a notice of redemption to the holders of 9.5% Series A Preferred Stock (the “Series A Preferred Stock”) of the Company to call for redemption on May 3, 2022 (the “Redemption Date”) all of the issued and outstanding Series A Preferred Stock pursuant to and in accordance with that certain Certificate of Designations of Series A Preferred Stock of the Company, dated as of March 16, 2016. Following the redemption, there will be no Series A Preferred Stock outstanding, dividends on the Series A Preferred Stock will cease to accumulate and all rights of the holders of shares of Series A Preferred Stock will terminate, except the right of such holders to receive the Redemption Consideration (as defined below).

Targa Resources Corp. Announces Full Redemption of its 9.5% Series A Preferred Stock

HOUSTON, April 14, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the first quarter of 2022.

Targa Resources Corp. Announces Quarterly Dividends and Timing of First Quarter 2022 Earnings Webcast

Delek Logistics Partners

MPLX

Sunoco

SUN, DCP, DKL, MPLX and TRGP are among the best inflation-protected investments in today's markets.

News for Targa Resources Stock (TRGP)