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Targa Resources Corp. (TRGP) delivers essential midstream energy services across North America’s premier basins. This page provides investors and industry professionals with direct access to the company’s latest news, including press releases, operational milestones, and strategic initiatives.
Track TRGP’s developments across earnings announcements, infrastructure expansions, and partnership agreements. Our curated collection ensures timely updates on natural gas processing, NGL logistics, and safety-driven operational practices—critical factors shaping the midstream sector.
Discover updates from TRGP’s Permian Basin operations, Grand Pipeline expansions, and Mont Belvieu fractionation facilities. All content is verified for accuracy and relevance, offering a neutral perspective aligned with financial compliance standards.
Bookmark this page for streamlined access to Targa Resources’ evolving role in energy infrastructure. Regularly updated to reflect the company’s latest advancements in connecting producers to global markets.
Targa Resources Corp. (NYSE: TRGP) announced its second quarter 2024 results, with net income of $298.5 million, a decline from $329.3 million in Q2 2023. However, adjusted EBITDA reached a record $984.3 million, up from $789.1 million in the same quarter last year.
The company reported record volumes in the Permian, NGL transportation, and fractionation. Targa repurchased a record $355.1 million of common stock and announced a new $1.0 billion share repurchase program. The company revised its 2024 adjusted EBITDA outlook to $3.95-$4.05 billion, a 5% increase from previous estimates.
Significant capital expenditures are expected for new gas plants in the Permian Basin, totaling $2.7 billion for 2024. Targa's total consolidated debt stands at $13.57 billion with liquidity of $1.6 billion. Additionally, the company declared a quarterly dividend of $0.75 per share.
Future projects include new gas processing plants and collaboration in the Blackcomb Pipeline, which will transport 2.5 billion cubic feet of natural gas per day, expected to be operational in H2 2026.
Targa Resources Corp. (NYSE: TRGP) announced a quarterly cash dividend of $0.75 per common share for Q2 2024, translating to an annualized rate of $3.00 per share. The dividend will be paid on August 15, 2024, to shareholders on record as of July 31, 2024. Additionally, Targa will release its Q2 2024 financial results on August 1, 2024, before market open, followed by a live webcast at 11:00 a.m. Eastern Time to discuss the results. A replay of the webcast and related presentations will be available on the company's website shortly after the event.
Targa Resources Corp. (NYSE: TRGP) has announced significant organizational changes effective July 22, 2024. Jennifer R. Kneale, the current CFO, will be promoted to President - Finance and Administration, retaining her reporting line to CEO Matthew J. Meloy. William A. Byers will join Targa as the new CFO, reporting to Kneale. Byers brings over 20 years of experience in energy financing and management, having served as CFO at Manchester Energy and Navitas Midstream Partners. His background includes leadership in M&A and investment banking, with a solid academic foundation from the University of Pennsylvania. This strategic move aligns with Targa's long-term development plans and aims to leverage Kneale's and Byers's expertise to drive growth.
Targa Resources Corp. (NYSE: TRGP) announced its participation in the J.P. Morgan Energy, Power and Renewables Conference in New York City on June 18, 2024. Representatives from the company will engage in investor meetings. The presentation slides will be accessible in the Investors section of Targa's website. This engagement aims to enhance investor relations and provide insights into the company's strategies and performance.
Targa Resources Corp. (NYSE: TRGP) announced its participation in the 21st Annual Energy Infrastructure CEO & Investor Conference in Aventura, FL on May 22, 2024. Representatives from the company will engage in investor meetings, and the presentation slides will be accessible on Targa's website.
Targa Resources Corp. reported first quarter 2024 results with a net income of $275.2 million, adjusted EBITDA of $966.2 million, and a 50% increase in quarterly cash dividend. The company repurchased $124 million of common stock and estimates adjusted EBITDA between $3.7 billion and $3.9 billion for the full year 2024. Targa also announced new growth projects and construction plans for future expansion.
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