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) will participate in the J.P. Morgan Midwest Utilities & Midstream 1x1 Forum on April 6, 2023, in Chicago, IL. The Company aims to showcase its midstream services and infrastructure capabilities, emphasized by its robust operations in natural gas, NGLs, and crude oil. Attendees can access presentation slides in the Investors section of Targa's website. As a leading independent midstream entity, Targa connects energy resources to domestic and international markets, playing a vital role in the delivery of cleaner fuels.
For further updates, visit www.targaresources.com.
Targa Resources Corp. (NYSE: TRGP) will participate in investor meetings at the Morgan Stanley Global Energy and Power Conference on March 1, 2023, in New York City. The company will offer access to conference slides via its investors section. Targa is recognized as a leader in midstream services and ranks among the largest independent midstream infrastructure companies in North America, facilitating the efficient delivery of energy across the U.S. and international markets. The company's operations include gathering and processing natural gas and NGLs, essential for meeting the demand for cleaner energy fuels.
On February 22, 2023, Targa Resources Corp. (NYSE: TRGP) filed its Form 10-K with the SEC for the year ending December 31, 2022. This report is accessible on the SEC's website and the Investors section of Targa's website. The company, a leading provider of midstream services in North America, plays a vital role in connecting natural gas and NGLs to domestic and international markets. Targa Resources is a FORTUNE 500 company and is part of the S&P 500, emphasizing its significance in the energy sector.
Targa Resources Corp. (TRGP) reported record financial results for Q4 and FY 2022. Q4 2022 net income was $318 million, a turnaround from a loss of $313.6 million in Q4 2021. For FY 2022, net income soared to $1.195 billion from $71.2 million in 2021. Adjusted EBITDA reached $840.4 million in Q4 2022 and $2.901 billion for the year, reflecting substantial growth. Targa declared a quarterly dividend of $0.35 per share and repurchased 395,798 shares in Q4. The company completed a $1.05 billion acquisition and a public offering totaling $1.75 billion. For 2023, Targa anticipates adjusted EBITDA between $3.5 billion and $3.7 billion, projecting a 24% growth rate.
Targa Resources Corp. (NYSE: TRGP) announced its participation in the U.S. Capital Advisors Midstream Corporate Access Day on January 24, 2023, in Houston, TX. The Company will engage in investor meetings where it will share insights regarding its midstream services.
Investors can access the presentation slides from the event on Targa's official website. As a leading midstream infrastructure company in North America, Targa plays a critical role in the transportation and processing of natural gas and natural gas liquids, contributing to a growing demand for cleaner energy sources.
Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.35 per common share for Q4 2022, amounting to $1.40 annually. This dividend will be paid on February 15, 2023, to shareholders on record as of January 31, 2023. Additionally, Targa is set to release its Q4 2022 financial results on February 22, 2023, before market opening, followed by a live webcast at 11:00 a.m. Eastern Time.
As a leading midstream services provider in North America, Targa plays a pivotal role in the delivery of energy resources, supporting cleaner fuels and efficient market connectivity.
Targa Resources Corp. has completed the acquisition of Blackstone Energy Partners’ 25% interest in the Grand Prix NGL Pipeline for $1.05 billion. The effective date of this transaction is January 1, 2023, resulting in Targa owning 100% of the pipeline. Grand Prix can transport up to one million barrels per day of natural gas liquids to the Mont Belvieu hub in Texas, enhancing Targa's connectivity in the Permian Basin and surrounding regions. This acquisition strengthens Targa's position as a leading midstream service provider in North America.
Targa Resources Corp. (NYSE: TRGP) announced a public offering of $900 million in 6.125% senior notes due 2033 and $850 million in 6.500% senior notes due 2053. The offering is priced at 99.858% and 97.843% of face value, respectively, and is expected to close on January 9, 2023. Proceeds will fund the acquisition of Blackstone Energy Partners’ 25% interest in the Grand Prix NGL Pipeline for approximately $1.05 billion and be used for general corporate purposes, including reducing borrowings. Completion of the transaction is subject to customary conditions.
Targa Resources Corp. (NYSE: TRGP) announced a definitive agreement to acquire Blackstone Energy Partners' 25% interest in the Grand Prix NGL Pipeline for $1.05 billion in cash. This acquisition allows Targa to own 100% of the pipeline, which transports up to one million barrels per day of natural gas liquids to Mont Belvieu, Texas. The deal, valued at approximately 8.75 times the estimated 2023 adjusted EBITDA, is expected to enhance Targa’s fee-based margins and cash flow stability. The acquisition is anticipated to close in Q1 2023.
Targa Resources Corp. (NYSE: TRGP) will participate in investor meetings at the Capital One Securities 17th Annual Energy Conference on December 7, 2022, in Houston, TX. The Company is a leading midstream services provider in North America, owning and operating essential infrastructure for natural gas and NGLs. The conference slides will be available in the Investors section of Targa's website. Targa is a FORTUNE 500 company and a member of the S&P 500, connecting natural gas and NGLs to growing domestic and international markets.