Targa Res Corp Stock Price, News & Analysis

Targa Resources Corp. (NYSE: TRGP) has released its 2024 Sustainability Report, providing a comprehensive review of the company's environmental, social, and governance (ESG) performance. The report aligns with major reporting frameworks including GRI Standards, IFRS, SASB Oil & Gas Midstream Standard, and TCFD.

Notably, Targa has enhanced its reporting credibility by engaging an external third party to review specific greenhouse gas emissions and employee safety data metrics for the year ended December 31, 2024. The report is now accessible on the company's website.

Targa Resources Corp. (NYSE:TRGP) has launched a non-binding open season for its proposed Forza Pipeline Project in the Delaware Basin. The project features 36 miles of 36-inch diameter pipe with a capacity of 750 dekatherms per day of primary firm transportation service.

The pipeline will connect receipt points in Lea County, New Mexico to multiple delivery points near the Waha Hub in Texas, linking gas processing facilities to in-basin demand and other markets. The open season runs from September 2 to October 2, 2025, with project completion targeted for mid-2028, subject to shipper interest and regulatory approvals.

Targa Resources (NYSE:TRGP) reported strong Q2 2025 financial results, with net income of $629.1 million, up 111% from $298.5 million in Q2 2024. The company achieved adjusted EBITDA of $1.16 billion, an 18% year-over-year increase.

Key operational highlights include record Permian and NGL transportation volumes, early completion of several major projects including Pembrook II plant and Bull Moose II plant, and a new 43-mile Bull Run pipeline extension. The company maintains its 2025 adjusted EBITDA guidance of $4.65-4.85 billion and increased its growth capital expenditure estimate to $3.0 billion.

Targa also announced a new $1.0 billion share repurchase program, repurchased $324 million of common shares in Q2, and declared a quarterly dividend of $1.00 per share.

Targa Resources Corp. (NYSE:TRGP) has declared a quarterly cash dividend of $1.00 per common share, equivalent to $4.00 per share annually. The dividend will be paid on August 15, 2025, to shareholders of record as of July 31, 2025.

Additionally, the company will release its second quarter 2025 financial results on August 7, 2025, before market opening, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results. A webcast replay and supplementary materials will be available on the company's investor relations website.

Targa Resources Corp. (NYSE: TRGP) has announced the pricing of a $1.5 billion senior notes offering, split between $750 million of 4.900% notes due 2030 and $750 million of 5.650% notes due 2036. The notes are priced at 99.870% and 99.700% of face value respectively. The offering is expected to close on June 18, 2025. The company plans to use the proceeds to redeem its 6.500% Senior Notes due 2027 and for general corporate purposes, including repaying commercial paper borrowings, other debt reduction, securities repurchases, and funding capital expenditures, working capital, or subsidiary investments.

Targa Resources Corp (NYSE: TRGP) reported strong Q1 2025 financial results with record adjusted EBITDA of $1.2 billion, up 22% year-over-year. Net income was $270.5 million, slightly down from $275.2 million in Q1 2024. Key highlights include:

• Increased annual dividend by 33% to $4.00 per share
• Repurchased $214 million of common shares through April 2025
• Maintained 2025 adjusted EBITDA guidance of $4.65-4.85 billion
• Completed $2.0 billion notes offering in February 2025

The company continues construction on multiple growth projects including new processing plants in Permian Midland and Delaware, fractionation trains, and LPG export expansion. Despite winter weather impacts in Q1, Targa expects meaningful volume growth across its systems throughout 2025 and 2026.

Targa Resources Corp (NYSE: TRGP) has announced a significant increase in its quarterly cash dividend to $1.00 per common share ($4.00 annualized) for the first quarter of 2025. This represents a 33% increase compared to the first quarter of 2024 dividend.

The dividend will be paid on May 15, 2025, to shareholders of record as of April 30, 2025. The company will release its Q1 2025 financial results before market opening on May 1, 2025, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the quarterly performance.

WhiteWater, MPLX LP, and Enbridge Inc. (ENB) have announced a final investment decision through their WPC joint venture to construct the Traverse Pipeline, partnering with Targa Resources Corp. The project features a bi-directional 36-inch pipeline spanning approximately 160 miles along the Gulf Coast between Agua Dulce and the Katy area.

The pipeline is designed to transport up to 1.75 billion cubic feet per day of natural gas and will be connected to multiple sources including the Whistler, Blackcomb, and Matterhorn Express Pipelines. The infrastructure will be owned by the Blackcomb Pipeline joint venture, with ownership split between WPC (70.0%), Targa (17.5%), and MPLX (12.5%). WhiteWater will handle construction and operations, with service expected to begin in 2027.

Targa Resources Corp. (NYSE: TRGP) has priced an underwritten public offering of $2.0 billion in senior notes, consisting of $1.0 billion of 5.550% Senior Notes due 2035 and $1.0 billion of 6.125% Senior Notes due 2055. The notes are priced at 99.610% and 99.781% of face value, respectively.

The offering is expected to close on February 27, 2025, subject to customary closing conditions. Targa plans to use approximately $1.8 billion of the proceeds to repurchase all outstanding preferred equity in Targa Badlands from its joint venture partner. This transaction, expected to close in Q1 2025 with an effective date of January 1, 2025, will give Targa full ownership of its North Dakota assets.

The remaining proceeds will be used for general corporate purposes, including repaying borrowings under its commercial paper program. If the Badlands Transaction doesn't complete, all proceeds will go toward general corporate purposes, debt repayment, capital expenditures, working capital, and subsidiary investments.