Welcome to our dedicated page for Targa Res news (Ticker: TRGP), a resource for investors and traders seeking the latest updates and insights on Targa Res stock.
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) has announced agreements to repurchase interests in its development company joint ventures from Stonepeak Partners for approximately $925 million. The acquisition, scheduled to close on January 14, 2022, will enhance Targa's ownership interests to 75% in the Grand Prix NGL Pipeline, 100% in the Train 6 fractionator, and 25% in the Gulf Coast Express Pipeline. This strategic move is projected to yield full-year Adjusted EBITDA and cash flows in 2022, boosting Targa's operational efficiency and financial performance.
Targa Resources Corp. (NYSE: TRGP) will participate in investor meetings via video conference at the UBS Winter Infrastructure & Energy Virtual Conference on January 11, 2022. Conference slides will be available on the Company’s website. Targa is a prominent midstream services provider in North America, owning diverse infrastructure assets critical for energy delivery. The Company is a FORTUNE 500 member and part of the S&P 400, emphasizing natural gas and NGLs connections to domestic and international markets.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video conference at the Wells Fargo Midstream Utilities & Renewables Symposium on December 8, 2021. A copy of the presentation slides will be available on the Company's website. Targa is a leading provider of midstream services in North America, operating a diversified portfolio of assets critical for energy delivery. The Company is a FORTUNE 500 entity and is included in the S&P 400, connecting natural gas and NGLs to various markets.
Targa Resources Corp. (NYSE: TRGP) has launched an open season from November 18 to December 17, 2021, to assess shipper interest in committed interstate transportation services for natural gas liquids (NGLs). The project will connect upstream pipeline facilities in Oklahoma to Mont Belvieu, Texas. Shippers are encouraged to submit a Non-Disclosure Agreement by November 23 to evaluate the open season documents. The final capacity will be determined based on the response to this open season, affecting both committed and uncommitted service options.
Targa Resources Corp. (NYSE: TRGP) announced participation in key investor conferences on November 16 and 17, 2021. The company will present at the RBC Capital Markets Midstream and Energy Infrastructure Conference and the Bank of America Virtual Global Energy Conference. Attendees can access presentation slides on Targa's investors' webpage. Targa is a leader in midstream services, owning a diverse portfolio essential for energy delivery in the U.S. and globally, and is included in the FORTUNE 500 and S&P 400.
Targa Resources Corp. (TRGP) reported strong Q3 2021 results with net income of $182.2 million, significantly up from $69.3 million year-over-year. Adjusted EBITDA reached $505.9 million, a 21% increase from $419.1 million in Q3 2020. The company now estimates 2021 adjusted EBITDA will exceed $2.0 billion. A quarterly dividend of $0.10 per share was declared, with plans to increase it to $0.35 starting Q4 2021. Targa's capital allocation strategy aims to return capital to shareholders through dividend increases and share repurchases, supported by healthy liquidity exceeding $3.1 billion.
Targa Resources Corp. (NYSE: TRGP) has entered into a long-term power purchase agreement with Concho Valley Solar to source renewable electricity for its natural gas processing operations in the Permian Basin. The 160 MWac solar project, located near San Angelo, Texas, is set to begin delivering clean energy in Q4 2022. This initiative supports Targa's sustainability efforts aimed at reducing emissions intensity. The project is expected to create about 150 jobs during construction and generate additional revenue for local taxing entities.
Targa Resources Corp. (NYSE: TRGP) announced a quarterly cash dividend of $0.10 per common share, amounting to $0.40 annually, for Q3 2021. This dividend will be paid on November 15, 2021, to shareholders of record as of October 29, 2021. Additionally, a $23.75 dividend per Series A preferred share will be distributed on November 12, 2021. Targa will report its Q3 financial results on November 4, 2021, followed by a live earnings webcast.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video at the Wolfe Research Utilities, Midstream & Clean Energy Conference on September 30, 2021. A copy of the presentation slides will be accessible on the Company’s website under the Investors section. Targa is a leading provider of midstream services, owning a diversified portfolio of infrastructure related to natural gas and NGLs. The Company is included in the S&P 400 and is a FORTUNE 500 entity.
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