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. (NYSE: TRGP) is a midstream energy company focused on natural gas, NGL and crude oil infrastructure, and its news flow reflects this operational and financial profile. The company describes itself as one of the largest independent infrastructure companies in North America and a provider of midstream services that are critical to the delivery of energy across the United States and to international markets.
News about Targa commonly covers its financial results, including quarterly earnings releases where the company reports net income, adjusted EBITDA, adjusted cash flow from operations and adjusted free cash flow. These updates often highlight trends in Permian natural gas inlet volumes, NGL transportation volumes, fractionation volumes and marketing margins, along with commentary on operating expenses, capital expenditures and liquidity.
Targa’s announcements also feature major growth projects and infrastructure expansions. Recent news has described new gas processing plants in the Permian Midland and Permian Delaware areas, expansions of NGL and natural gas pipelines, fractionation capacity additions in Mont Belvieu, Texas, and projects such as the Speedway NGL Pipeline, Buffalo Run and the proposed Forza interstate natural gas pipeline. These items provide insight into how the company is expanding its gathering, processing and logistics footprint.
Investors following TRGP news will also see coverage of capital markets activity, such as senior notes offerings, the use of proceeds to redeem existing notes and repay borrowings, and updates on share repurchase programs and common dividends. Transaction announcements, including the acquisition of Stakeholder Midstream, LLC, add another layer of information about how Targa is deploying capital to grow its midstream platform.
By monitoring this news stream, readers can track Targa’s operational performance, project pipeline, financing decisions and corporate actions that shape the company’s midstream energy strategy.
Targa Resources Corp. (NYSE: TRGP) announced participation in the U.S. Capital Advisors Midstream Conference via video on January 26, 2021. The event aims to engage investors and discuss the company's midstream services. A copy of the presentation slides will be available on the company's investor website. Targa Resources is a major player in North America's midstream infrastructure, specializing in gathering, processing, and transporting natural gas and NGLs, along with crude oil services.
Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.10 per common share and $23.75 per Series A preferred share for Q4 2020. The common share dividend, amounting to $0.40 annually, will be payable on February 16, 2021, to shareholders on record as of February 1, 2021. Meanwhile, the preferred share dividend will be paid on February 12, 2021.
The company will announce its fourth quarter financial results on February 18, 2021, with a webcast available for investors to follow.
Targa Resources Partners LP announced an upsized offering of $1.0 billion in senior unsecured notes due 2032, accruing interest at 4% per annum. The offering is set to close on February 2, 2021. Proceeds will be used for a cash tender offer for its 5 1/8% Senior Notes due 2025, plus associated fees and to reduce borrowings under existing credit facilities. The offering is not contingent on the tender offer's completion. The securities are not registered under the Securities Act and may only be offered in compliance with relevant exemptions.
Targa Resources Partners LP plans to offer $750 million in senior unsecured notes due 2032 to qualified institutional buyers under Rule 144A and Regulation S. Proceeds will fund a cash tender offer for its 5 1/8% Senior Notes due 2025 and reduce borrowings under credit facilities. The offering is not contingent on the Tender Offer, which is subject to certain conditions. The notes will be eligible for trading by qualified institutional buyers and non-U.S. persons. The offering emphasizes Targa's strategy to optimize its debt structure.
Targa Resources Partners LP announced a cash tender offer to purchase all outstanding senior notes, specifically the 5.125% Senior Notes due 2025, totaling approximately $481 million. The purchase price is set at $1,026.88 per $1,000 of notes, with accrued interest included. The offer expires on February 1, 2021, and is contingent upon the completion of a concurrent notes offering. The settlement for accepted notes is expected on February 2, 2021. Targa has engaged BofA Securities as the exclusive Dealer Manager for this transaction.
Targa Resources Corp. (NYSE: TRGP) will participate in the UBS Winter Infrastructure & Energy Conference via video conference on January 13, 2021. Investors can access presentation slides in the Investors section of Targa's website. The company is a leading provider of midstream services in North America, focusing on natural gas and NGLs. Targa operates infrastructure for gathering, processing, and transporting energy resources.
Targa Resources Corp. (NYSE: TRGP) announced the retirement of Paul W. Chung from the management team, appointing him as Chairman of the Board of Directors as of January 1, 2021. Joe Bob Perkins also retired from management but remains on the Board. Chung has extensive experience in the energy sector, having served in various legal and executive roles since 2004. Targa is a prominent midstream service provider, engaging in gathering, processing, and selling natural gas, NGLs, and crude oil.
Targa Resources Corp. (NYSE: TRGP) announced participation in the Wells Fargo Virtual Midstream and Utility Symposium on December 8, 2020. The Company will conduct investor meetings via video conference. Interested parties can access presentation slides in the Investors section of Targa's website. Targa is a significant player in midstream services, focusing on diverse infrastructure assets for natural gas, NGLs, and crude oil. The company emphasizes its commitment to transparency and provides regular updates through SEC filings.
Targa Resources Partners LP announced plans to redeem its $125 million worth of 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units on December 21, 2020. This decision aligns with the company’s strategy to simplify its capital structure and enhance free cash flow. The redemption includes a price of $25.00 per share alongside any unpaid distributions. Following this event, the Series A Preferred Units will cease trading on the NYSE, and rights of the shareholders will terminate, save for the right to receive the redemption consideration.
Targa Resources Partners LP announced a monthly distribution of $0.1637 per unit on its 9.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units for November 2020. This marks a transition from a fixed rate to an annual floating rate, based on one-month LIBOR plus a 7.71% spread, effective November 1, 2020. The payment is scheduled for December 15, 2020, to holders on record by November 30, 2020. Targa Resources operates a diversified portfolio of midstream infrastructure assets and is a major player in the North American market for natural gas, NGLs, and crude oil.
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