Targa Res Corp Stock Price, News & Analysis

Targa Resources (TRGP) reported strong Q4 and full-year 2024 results, with record adjusted EBITDA of $4.1 billion for 2024, up 17% from 2023. Q4 net income was $351.0 million, with adjusted EBITDA of $1.1 billion.

The company achieved record volumes across Permian, NGL transportation, fractionation, and LPG exports. Key operational highlights include completing the 275 MMcf/d Greenwood II plant and 120 MBbl/d Train 10 fractionator, plus commencing operations of the Bull Moose plant.

Looking ahead, TRGP estimates 2025 adjusted EBITDA between $4.65-4.85 billion, a 15% increase over 2024. The company announced plans to increase its quarterly dividend to $1.00 per share ($4.00 annualized) starting Q1 2025, representing a 33% increase. Additionally, TRGP announced a $1.8 billion refinancing of Badlands preferred equity and new growth projects including Delaware Express pipeline expansion, Train 12 fractionator, and GPMT LPG Export Expansion.

Targa Resources Corp. (NYSE: TRGP) has announced its quarterly dividend for Q4 2024, declaring a cash dividend of $0.75 per common share ($3.00 annualized), payable on February 14, 2025, to shareholders of record as of January 31, 2025.

The company plans to recommend to its Board of Directors an increase in the common dividend to $1.00 per share ($4.00 annualized) for Q1 2025, effective for payment in May 2025.

Targa will release its Q4 2024 financial results before market opening on February 20, 2025, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results.

Targa Resources Corp. (NYSE: TRGP) has announced its participation in the BofA Securities Global Energy Conference in Houston, TX on Wednesday, November 13, 2024. Company representatives will engage in investor meetings during the conference. The presentation slides for these meetings will be accessible through the Investors section of Targa's website at targaresources.com.

Targa Resources Corp. (TRGP) reported strong Q3 2024 results with net income of $387.4 million, up from $220.0 million in Q3 2023. The company achieved record adjusted EBITDA of $1.07 billion, compared to $840.2 million in Q3 2023. Key highlights include record Permian, NGL transportation, and fractionation volumes, completion of the Daytona NGL Pipeline expansion, and $168 million in stock repurchases during Q3. The company expects full-year 2024 adjusted EBITDA to exceed $4.05 billion and plans to increase its annual common dividend by 33% to $4.00 per share in 2025.

Targa Resources Corp. (NYSE: TRGP) has released its Sustainability Report for 2023, highlighting key achievements in environmental, social, and governance areas. The report, available on the company's website, showcases Targa's commitment to sustainability and transparency.

Notable accomplishments include:

• A 19% decrease in Gathering & Boosting sector methane intensity
• Surpassing original methane intensity goals set through ONE Future participation
• Conducting aerial methane surveys across all gathering and processing assets
• Increasing methane monitoring frequency at compressor stations and gas plants
• Exporting approximately 5.6 billion gallons of LPG globally, potentially displacing higher GHG-emitting fuels
• Improving safety performance with a 25% decrease in Employee Total Recordable Incident Rate since 2021
• Receiving nine midstream safety recognition awards
• Maintaining a high level of local hiring and board independence

The report aligns with GRI Standards, IFRS, SASB Oil & Gas Midstream Standard, and TCFD guidelines, demonstrating Targa's commitment to recognized sustainability reporting frameworks.

Targa Resources Corp. (NYSE: TRGP) has announced its quarterly dividend for the third quarter of 2024. The company's board of directors has declared a quarterly cash dividend of $0.75 per common share, which equates to $3.00 per common share on an annualized basis. This dividend will be paid on November 15, 2024 to shareholders of record as of the close of business on October 31, 2024.

Additionally, Targa will report its third quarter 2024 financial results before the market opens on Tuesday, November 5, 2024. The company will host a live webcast at 11:00 a.m. Eastern Time to discuss these results. A webcast replay and quarterly earnings supplement presentation will be available on the company's website after the event.

Targa Resources Corp. (NYSE: TRGP) has announced its participation in the Barclays CEO Energy & Power Conference in New York, NY on September 4, 2024. Company representatives will engage in investor meetings during the event. To support these discussions, Targa will make presentation slides available to the public.

Interested parties can access these slides through the Investors section of Targa's official website at www.targaresources.com or directly via https://www.targaresources.com/investors/events. This move demonstrates Targa's commitment to transparency and investor relations, providing stakeholders with insights into the company's current position and future strategies in the energy sector.

Targa Resources Corp. (NYSE: TRGP) has announced its participation in the Citi One-on-One Midstream and New Energy Infrastructure Conference in Las Vegas, NV. The event is scheduled for August 13 and 14, 2024. Company representatives will engage in investor meetings during the conference.

To support these meetings, Targa will make presentation slides available to the public. These slides can be accessed through the Investors section of Targa's official website at www.targaresources.com or directly via the link https://www.targaresources.com/investors/events.

This participation highlights Targa's commitment to investor relations and transparency in its operations within the midstream and new energy infrastructure sectors.

Targa Resources Corp. (NYSE: TRGP) has announced the pricing of a $1.0 billion public offering of 5.500% Senior Notes due 2035. The notes are priced at 99.943% of their face value, with the offering expected to close on August 9, 2024. Targa plans to use the net proceeds for general corporate purposes, including:

• Repaying borrowings under its commercial paper note program
• Repaying the remaining $500.0 million of its prior $1.5 billion unsecured term loan facility due July 2025
• Potential repayment of other indebtedness
• Capital expenditures
• Additions to working capital
• Investments in subsidiaries

The offering is made pursuant to an effective shelf registration statement filed with the SEC.