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 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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Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video conference at the Barclays CEO Energy-Power Conference on September 8, 2021. The company will share slides from these meetings in the Investors section of its website. Targa is a major player in midstream services, operating a diversified portfolio of infrastructure assets, including natural gas and crude oil operations. As a Fortune 500 company, Targa is recognized for its substantial impact in North America's energy sector.
Targa Resources Corp. (NYSE: TRGP) announced its participation in two upcoming investor conferences via video conference. The conferences include the Goldman Sachs Power, Utilities, MLPs and Pipelines Conference on August 11, 2021, and the Citi One-on-One Midstream / Energy Infrastructure Conference on August 18, 2021. Conference slides will be available in the Investors section of Targa's website. Targa is a leading provider of midstream services in North America, and is included in the S&P 400.
Targa Resources Corp. (TRGP) reported a second-quarter net income of $56.2 million, down 31% year-over-year, alongside an Adjusted EBITDA of $460.0 million, a 31% increase compared to the previous year. The company declared a quarterly dividend of $0.10 per share, totaling $23.3 million, payable on August 16, 2021. Total revenues surged 124% to $3.42 billion, primarily driven by higher commodity prices and volumes. However, Adjusted EBITDA decreased 11% sequentially due to lower marketing margins. Targa anticipates a 2021 Adjusted EBITDA between $1.9 billion and $2.0 billion.
Targa Resources Corp. (NYSE: TRGP) declared a cash dividend of $0.10 per common share for Q2 2021, amounting to $0.40 annualized, payable on August 16, 2021. The quarterly cash dividend for Series A preferred shares is $23.75, payable on August 13, 2021. The company will release its second quarter financial results on August 5, 2021, followed by a live webcast discussing the results.