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 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.
Targa Resources Corp. (NYSE: TRGP) will participate in virtual investor meetings at the UBS Midstream Virtual 1x1 Mini-Conference and the RBC Midstream and Energy Infrastructure Virtual Conference on November 17 and 18, 2020. The presentation slides will be available in the Investors section of Targa's website. As a leader in midstream services, Targa operates a vast portfolio of natural gas, NGL, and crude oil infrastructure assets across North America. For more information, visit www.targaresources.com.
Targa Resources Corp. reported a strong third quarter for 2020, revealing a net income of $69.3 million, up from a loss of $47.3 million year-over-year. Adjusted EBITDA rose 20% to $419.1 million driven by improved commodity prices and increased production recovery. The company declared a quarterly dividend of $0.10 per share. Targa anticipates full-year 2020 Adjusted EBITDA to be at the high end of its $1.5 billion to $1.625 billion guidance. Total consolidated debt stood at $7.9 billion, while liquidity was approximately $2.6 billion, indicating strong financial health amidst challenges.
Targa Resources Corp. (NYSE: TRGP) announced a quarterly dividend of $0.10 per common share and $23.75 per Series A preferred share for Q3 2020. The dividends will be paid on November 16, 2020, for common shareholders and on November 13, 2020, for preferred shareholders, with a record date of October 30, 2020. Additionally, Targa will release its Q3 2020 financial results on November 5, 2020, and host a webcast to discuss these results.
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.
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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.