Targa Res Corp Stock Price, News & Analysis

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.

Targa Resources Corp. (NYSE: TRGP) has announced the filing of its Form 10-K with the Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2024. The annual report is accessible through multiple channels, including the SEC's website (www.sec.gov), Targa's investor relations website (www.targaresources.com), and directly through their SEC filings page.

Shareholders and interested parties can also request free hard copies of the report by contacting Targa's investor relations department via email at investorrelations@targaresources.com or by phone at (713) 584-1133.

Targa Resources (TRGP) reported strong Q4 and full-year 2024 results, with record adjusted EBITDA of $4.1 billion for 2024, up 17% from 2023. Q4 net income was $351.0 million, with adjusted EBITDA of $1.1 billion.

The company achieved record volumes across Permian, NGL transportation, fractionation, and LPG exports. Key operational highlights include completing the 275 MMcf/d Greenwood II plant and 120 MBbl/d Train 10 fractionator, plus commencing operations of the Bull Moose plant.

Looking ahead, TRGP estimates 2025 adjusted EBITDA between $4.65-4.85 billion, a 15% increase over 2024. The company announced plans to increase its quarterly dividend to $1.00 per share ($4.00 annualized) starting Q1 2025, representing a 33% increase. Additionally, TRGP announced a $1.8 billion refinancing of Badlands preferred equity and new growth projects including Delaware Express pipeline expansion, Train 12 fractionator, and GPMT LPG Export Expansion.

Targa Resources Corp. (NYSE: TRGP) has announced its quarterly dividend for Q4 2024, declaring a cash dividend of $0.75 per common share ($3.00 annualized), payable on February 14, 2025, to shareholders of record as of January 31, 2025.

The company plans to recommend to its Board of Directors an increase in the common dividend to $1.00 per share ($4.00 annualized) for Q1 2025, effective for payment in May 2025.

Targa will release its Q4 2024 financial results before market opening on February 20, 2025, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results.

Targa Resources Corp. (NYSE: TRGP) has announced its participation in the BofA Securities Global Energy Conference in Houston, TX on Wednesday, November 13, 2024. Company representatives will engage in investor meetings during the conference. The presentation slides for these meetings will be accessible through the Investors section of Targa's website at targaresources.com.

Targa Resources Corp. (TRGP) reported strong Q3 2024 results with net income of $387.4 million, up from $220.0 million in Q3 2023. The company achieved record adjusted EBITDA of $1.07 billion, compared to $840.2 million in Q3 2023. Key highlights include record Permian, NGL transportation, and fractionation volumes, completion of the Daytona NGL Pipeline expansion, and $168 million in stock repurchases during Q3. The company expects full-year 2024 adjusted EBITDA to exceed $4.05 billion and plans to increase its annual common dividend by 33% to $4.00 per share in 2025.

Targa Resources Corp. (NYSE: TRGP) has released its Sustainability Report for 2023, highlighting key achievements in environmental, social, and governance areas. The report, available on the company's website, showcases Targa's commitment to sustainability and transparency.

Notable accomplishments include:

• A 19% decrease in Gathering & Boosting sector methane intensity
• Surpassing original methane intensity goals set through ONE Future participation
• Conducting aerial methane surveys across all gathering and processing assets
• Increasing methane monitoring frequency at compressor stations and gas plants
• Exporting approximately 5.6 billion gallons of LPG globally, potentially displacing higher GHG-emitting fuels
• Improving safety performance with a 25% decrease in Employee Total Recordable Incident Rate since 2021
• Receiving nine midstream safety recognition awards
• Maintaining a high level of local hiring and board independence

The report aligns with GRI Standards, IFRS, SASB Oil & Gas Midstream Standard, and TCFD guidelines, demonstrating Targa's commitment to recognized sustainability reporting frameworks.