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 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.
Targa Resources Partners LP (NYSE: TRGP) announced plans to offer $750 million in senior unsecured notes due 2031, targeting qualified institutional buyers. The funds will be used for a cash tender offer to repurchase its 6 3/4% Senior Notes due 2024 and to reduce borrowings under its revolving credit facility. The offering aims to optimize financial structure and liquidity. The securities will not be registered under the Securities Act and are subject to market conditions.
Targa Resources Partners LP has initiated a cash tender offer to buy back all outstanding senior notes, specifically the 6.750% Senior Notes due 2024.
The total principal amount for these notes is $580,120,000, with a purchase price of $1,020.70 per $1,000 of notes. The tender offer will expire on August 17, 2020, and settlement is anticipated for August 18, 2020.
The offer is contingent on the completion of a contemporaneous notes offering. Accrued interest will also be paid to note holders.
Targa Resources Corp. (TRGP) reported a net income of $81 million for Q2 2020, a significant turnaround from a net loss of $10.2 million in Q2 2019. Adjusted EBITDA increased to $351.2 million, up from $306.5 million year-over-year. The company declared a $0.10 quarterly dividend, with total cash dividends of approximately $23.3 million expected. However, lower commodity prices and reduced production activity impacted financial performance. Targa increased its 2020 Adjusted EBITDA guidance to a range of $1.5 billion to $1.625 billion, driven by recovery in production volumes.
Targa Resources Corp. (NYSE: TRGP) has declared a quarterly cash dividend of $0.10 per common share and $23.75 per Series A preferred share for Q2 2020. The common dividend will be payable on August 17, 2020, to shareholders on record as of July 31, 2020. The preferred dividend will be paid on August 14, 2020. Additionally, Targa will report its Q2 2020 financial results on August 6, 2020, followed by a webcast at 11:00 a.m. ET. The company, a leading midstream service provider in North America, focuses on natural gas and crude oil operations.
Targa Resources Partners LP announced a monthly cash distribution of $0.1875 per Series A Preferred Unit for July 2020, amounting to an annualized rate of $2.25. The distribution will be paid on August 17, 2020 to holders of record as of July 31, 2020. Targa is recognized as a significant player in the midstream energy sector, engaging in natural gas and NGL services. The partnership's forward-looking statements note potential risks such as market conditions and pandemics impacting operations.
Targa Resources Corp. will participate in the J.P. Morgan Virtual Energy, Power & Renewables Conference on June 16-17, 2020. The investor meetings will be conducted via video conference, and the presentation slides will be accessible in the Investors section of Targa's website. Targa is a leading independent midstream energy company, engaged in various activities, including transporting and selling natural gas and crude oil. For more details, visit www.targaresources.com.
Targa Resources Corp. (NYSE: TRGP) announced the election of Ms. Lindsey M. Cooksen to its Board of Directors, increasing the board size to twelve members effective June 1, 2020. Cooksen, founder of Cooksen Wealth, brings extensive experience from Morgan Stanley and Citigroup, with expertise in wealth management and risk mitigation. CEO Matthew J. Meloy expressed confidence in her ability to contribute meaningful insights. This move is part of Targa's succession planning, aiming to enhance the board's financial acumen and investor perspectives.
Targa Resources Corp. (NYSE: TRGP) will participate in investor meetings at the UBS Virtual Global Oil and Gas Conference via video on May 20, 2020. The presentation slides will be accessible on the Company's website, enhancing transparency for stakeholders. Targa is a prominent provider of midstream services, focusing on the gathering, processing, and selling of natural gas and related products. The company emphasizes its extensive portfolio and pivotal role in the North American energy sector. For more details, visit www.targaresources.com.
FAQ
What is the current stock price of Targa Res (TRGP)?
What is the market cap of Targa Res (TRGP)?
