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 investor meetings via video conference at the Wolfe Research Utilities, Midstream & Clean Energy Conference on September 30, 2022. The presentation slides will be available on the Company’s website. Targa is a leading midstream service provider and one of the largest independent midstream infrastructure companies in North America. The company connects natural gas and NGLs to increasing domestic and international markets, focusing on cleaner fuels.
Targa Resources Corp. (NYSE: TRGP) is set to participate in key investor meetings at two conferences: the Citi One-on-One Midstream / Energy Infrastructure Conference on August 16-17, 2022, in Las Vegas, NV, and the Seaport Research Partners Annual Summer Investor Conference on August 24, 2022, via video conference. Attendees can access presentation slides in the Investors section of Targa's website. Targa is a leading midstream service provider, playing a crucial role in energy delivery across the U.S. and global markets.
Targa Resources Corp. (TRGP) reported impressive second-quarter 2022 results, with net income soaring to $596.4 million from $56.2 million in Q2 2021. This includes a significant $435.9 million gain from equity method investment sales. Adjusted EBITDA rose 45% to $666.4 million, driven by higher commodity prices and record natural gas volumes averaging 3.1 Bcf/d. Targa declared a quarterly dividend of $0.35 per share. Additionally, the company increased its 2022 adjusted EBITDA guidance to between $2.85 billion and $2.95 billion, reflecting its recent acquisitions and growth projects.
Targa Resources Corp. (NYSE: TRGP) has successfully acquired Lucid Energy Delaware, LLC for $3.55 billion, enhancing its presence in the Delaware Basin. The acquisition, funded through loans and a public note offering, adds over 1,050 miles of natural gas pipelines and significant cryogenic processing capacity. Lucid's assets are secured by long-term contracts from diverse clients on over 600,000 dedicated acres, tapping into lucrative crude oil and natural gas production areas.
Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.35 per common share for Q2 2022, amounting to $1.40 annually. This dividend will be paid on August 15, 2022, to shareholders on record by July 29, 2022. The company's financial results for the second quarter will be available on August 4, 2022, followed by a live webcast at 11:00 a.m. ET. Targa, a leading provider of midstream services and a FORTUNE 500 company, operates critical infrastructure for energy delivery across the U.S.
Targa Resources Corp. (NYSE: TRGP) has announced a public offering of $750 million in 5.200% senior notes due 2027 and $500 million in 6.250% senior notes due 2052. The offering is scheduled to close on July 7, 2022. Proceeds will partially fund Targa's acquisition of Lucid Energy Delaware for approximately $3.55 billion, expected to close in Q3 2022. If the acquisition does not proceed, the funds will be used for general corporate purposes, including debt repayment and capital expenditures.
Targa Resources Corp. announced a $3.55 billion acquisition of Lucid Energy Delaware, enhancing its presence in the Delaware Basin. This strategic acquisition is anticipated to elevate Targa's fee-based margin through long-term fixed-fee contracts, with estimated 2023 adjusted EBITDA at 7.5 times the acquisition price. Targa's standalone 2022 EBITDA is projected between $2.675 billion and $2.775 billion, with a year-end leverage ratio expected at 3.5 times post-transaction. The deal is set to close in Q3 2022, subject to regulatory approvals.
Targa Resources Corp. (NYSE: TRGP) announced participation in the Bank of America Energy Credit Conference on June 8, 2022, in New York City. The company's investor presentations will be accessible on their website. As a leading midstream service provider, Targa operates a diversified portfolio of assets vital for energy delivery across the U.S. The company is a FORTUNE 500 entity and listed in the S&P 400. For further information, visit www.targaresources.com.
ArcLight Capital Partners has successfully acquired a 25% equity interest in Gulf Coast Express Pipeline from Targa Resources for $857 million. The GCX pipeline, with a capacity of 2.02 Bcf/d, is essential for transporting natural gas from the Permian Basin to the Gulf Coast, fueling demand in emerging LNG markets. ArcLight's Managing Director, Lucius Taylor, expressed confidence in GCX’s role in meeting growing global gas demand responsibly as the energy sector transitions. Macquarie Capital served as the financial advisor for this transaction.
Targa Resources Corp. (NYSE: TRGP) will participate in several upcoming investor conferences, including the Citi Global Energy, Utilities and Climate Technology Conference on May 11, 2022, in Boston, the Energy Infrastructure Council Investor Conference on May 16-17, 2022, in West Palm Beach, and the Tudor, Pickering, Holt & Co. Energy Conference on May 19, 2022, in Houston. Presentation materials will be accessible on their website. Targa is a leading midstream infrastructure provider in North America, focusing on the delivery of energy resources across various markets.
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