Targa Res Corp Stock Price, News & Analysis

Targa Resources Partners LP announced a monthly cash distribution of $0.1875 per Series A Preferred Unit for October 2020, amounting to an annualized $2.25. This distribution will be paid on November 16, 2020, to holders on record by October 30, 2020. Targa Resources Partners LP, a major player in midstream infrastructure, focuses on gathering, processing, and selling natural gas and related products. The company has significant operations in North America, and its strategic management decisions and market conditions could impact future performance.

Targa Resources Corp. (NYSE: TRGP) has authorized a $500 million share repurchase program for its common stock, effective immediately. This move aims to enhance shareholder value and reduce leverage. Despite ongoing uncertainties due to COVID-19, the company estimates a full-year 2020 Adjusted EBITDA around $1.625 billion and anticipates lower growth capital spending of approximately $700 million. CEO Matt Meloy emphasized the strength of the company's performance and its commitment to improving financial flexibility.

Targa Resources Partners LP announced a monthly cash distribution of $0.1875 per Series A Preferred Unit for September 2020, amounting to $2.25 on an annualized basis. This distribution will be paid on October 15, 2020, to holders of record as of September 30, 2020. The company operates a diversified portfolio of midstream infrastructure assets, primarily in natural gas, NGLs, and crude oil.

Targa Resources Corp. (NYSE: TRGP) will participate in two upcoming investor meetings via video conference. These events include the BMO Real Assets Virtual Conference on September 2, 2020, and the Barclays CEO Energy-Power Virtual Conference on September 9, 2020. Interested investors can access the presentation slides in the Investors section of the company's website. Targa is a leading provider of midstream services, focusing on natural gas, natural gas liquids, and crude oil.

Targa Resources Partners LP announced the expiration of its cash tender offer for its 6.750% senior notes due 2024, with $262,131,000 (45.2%) validly tendered. The offer expired on August 17, 2020. Targa Resources Partners intends to accept all validly tendered notes and make payments on August 18, 2020, contingent upon the completion of a debt financing transaction. Additionally, the firm will optionally redeem any 2024 Notes not bought in the tender offer, depending on the financing condition.

Targa Resources Partners announced a cash distribution of $0.1875 per Series A Preferred Unit for August 2020, totaling $2.25 annually. This distribution, effective September 15, 2020, will apply to all outstanding Series A Preferred Units held by investors on record as of August 31, 2020. Targa operates as a major midstream infrastructure provider, engaging in the gathering and transportation of natural gas and NGLs, among other services. The firm is subject to various risks, including market conditions affecting commodity prices and the impact of pandemics like COVID-19.

Targa Resources Corp. (NYSE: TRGP) announced participation in the Citi One-on-One Midstream/Energy Infrastructure Virtual Conference on August 12-13, 2020. The company's representatives will engage in investor meetings via video conference. Conference slides will be accessible on their website. Targa is a major provider of midstream services in North America, managing diverse infrastructure assets to process and transport natural gas and crude oil. For more details, visit www.targaresources.com.

Targa Resources Partners LP announced the pricing of an upsized offering of $1.0 billion in senior unsecured notes due 2031, with a 4.875% interest rate. The offering is set to close on August 18, 2020, and proceeds will fund a cash tender offer for existing 6.750% Senior Notes due 2024 and reduce borrowings under a credit facility. The notes have not been registered under the Securities Act and are available for trading by qualified institutional buyers.