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Targa Resources Corp. operates midstream energy infrastructure focused on natural gas gathering and processing and logistics and transportation for natural gas liquids. Company news commonly covers earnings results, adjusted EBITDA, adjusted cash flow metrics, Permian inlet volumes, NGL fractionation activity, marketing margins, and operations across assets such as the Grand Prix NGL pipeline and LPG export facilities.
Recurring updates also include common-stock dividends, capital projects for new processing plants in the Permian Midland and Permian Delaware, acquisition-related volume growth, weather or commodity-price effects on producer activity, and annual or quarterly reporting matters tied to its NYSE-listed common stock.
Targa Resources Corp. (NYSE: TRGP) announced its participation in two upcoming investor conferences. The U.S. Capital Advisors Midstream Corporate Access Day is scheduled for March 30, 2022, followed by the Bank of America Energy Summit on March 31, 2022. Attendees can access presentation slides on the Company’s website. Targa is a major midstream service provider in North America, connecting natural gas and NGLs to various markets, playing a crucial role in energy delivery. It is also ranked as a FORTUNE 500 company, underscoring its market significance.
Targa Resources Corp. (NYSE: TRGP) announced a public offering of $750 million in senior notes due 2033 and $750 million due 2052. The notes are priced at 99.815% and 99.333% of their face value, respectively, with expected closing on April 6, 2022. Proceeds will fund the purchase of 5 7/8% Senior Notes due 2026 and repay part of the company's revolving credit facility. The offering is contingent on a tender offer for the 2026 Notes, which underscores the company’s efforts to manage its debt and leverage its financial position.
Targa Resources Partners LP, a subsidiary of Targa Resources Corp. (NYSE: TRGP), has initiated a cash tender offer for all outstanding 5.875% Senior Notes due 2026, totaling approximately $963.2 million. The purchase price is set at $1,030.88 for each $1,000 of notes. Holders will also receive accrued interest. The tender offer expires on April 5, 2022, with settlement expected on April 6, 2022. This offer is contingent on a senior notes financing of at least $1.25 billion by TRGP. If not tendered, notes may be redeemed at 102.938% of their principal amount on April 22, 2022.
Targa Resources Corp. (NYSE: TRGP) has announced the acquisition of Southcross Energy Operating LLC and its subsidiaries for $200 million. This transaction, valued at around 4 times adjusted EBITDA, highlights significant synergy potential and the ability to operate an idle plant with a capacity of 200 million cubic feet per day. The acquisition, which includes fee-based contracts primarily for low pressure wellhead gathering, is expected to close in Q2 2022, pending customary conditions.
Targa Resources Corp. (NYSE: TRGP) will engage in investor meetings via video conference at the Evercore ISI Elite Energy & Materials Summit on March 9, 2022. Interested parties can access the presentation slides in the Investors section of the Targa website. Targa is recognized as one of the largest independent midstream infrastructure firms in North America, facilitating the gathering, processing, and transport of natural gas, NGLs, and crude oil. The company is a FORTUNE 500 entity and is included in the S&P 400.
Targa Resources Corp. (NYSE: TRGP) will participate in two key investor conferences: the Morgan Stanley Energy & Power Conference on March 1, 2022, and the Barclays Investment Grade Energy & Pipeline Corporate Day on March 2, 2022. Conference slides will be available on Targa's website in the Investors section. Targa is a leading provider of midstream services in North America, focusing on the transportation and processing of natural gas and NGLs, and is included in the S&P 400 and FORTUNE 500 lists.
Targa Resources Corp. (NYSE: TRGP) has filed its Form 10-K for the year ending December 31, 2021, with the SEC. The report highlights the company's midstream services, emphasizing its role as a key player in the independent midstream infrastructure sector in North America. Targa manages a diversified portfolio that facilitates the delivery of natural gas and natural gas liquids. The Form 10-K is accessible on the SEC's website and Targa’s investor relations page. Shareholders can request hard copies from the investor relations department.
Targa Resources Corp. reported a Q4 2021 net loss of $(313.6) million, primarily due to a $452.3 million non-cash impairment, contrasting with a profit of $33.6 million in Q4 2020. Full-year net income stood at $71.2 million, a recovery from a $1.6 billion loss in 2020. Adjusted EBITDA for Q4 2021 was $570.6 million, up 13% quarter-over-quarter, driven by higher commodity prices and increased volumes. Targa declared a $0.35 dividend per share, amounting to $80 million in total payouts. The company anticipates 2022 adjusted EBITDA between $2.3 billion and $2.5 billion, reflecting a positive growth outlook.
Targa Resources Corp. (NYSE: TRGP) has executed agreements to sell its 25% equity interest in the Gulf Coast Express Pipeline for $857 million. The transaction is set to close in the second quarter of 2022, following a customary call right period for other GCX members. J.P. Morgan is the financial advisor, with Vinson & Elkins LLP providing legal counsel for the transaction. Targa remains a key player in midstream services across North America, facilitating energy delivery through its diverse portfolio of infrastructure assets.
Targa Resources Corp. (NYSE: TRGP) has declared a quarterly cash dividend of $0.35 per common share for Q4 2021, set to be paid on February 15, 2022. This marks a significant 350% increase from the previous quarter. Additionally, a dividend of $23.75 per Series A preferred share will also be distributed on February 14, 2022. The company will release its Q4 2021 financial results before the market opens on February 24, 2022, followed by a live webcast at 11:00 a.m. ET.