Targa Resources

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities, and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value-added services such as the storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters, and the storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005, and is headquartered in Houston, TX.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Targa Resources excels in Q4, eyes growth amid challenges

Targa Resources delivered exceptional performance in Q4 2022, with a robust outlook for 2023 driven by growth initiatives and strategic focus on returns.
While facing challenges like inflation pressures and hedge impacts, Targa remains agile in optimizing investments and maintaining capital efficiency.
The company's strengths lie in its operational successes, strong financial discipline, and strategic positioning for future growth opportunities.

Targa Resources reports robust Q1 performance amidst growth opportunities

Targa Resources Corp. demonstrated solid financial performance in Q1 2023, driven by record volumes and strategic investments. While facing challenges such as commodity price fluctuations and operational issues, the company's strong balance sheet and growth initiatives position it well for the future.

Targa Resources posts record Q2 volumes, eyes growth opportunities

Targa Resources reports strong Q2 performance with record volumes and strategic investments in Permian operations.
Maintaining financial strength and flexibility, the company is poised for growth with a focus on shareholder value.
Challenges include managing pricing dynamics and balancing leverage for future investments and returns.

Targa Resources reports strong Q3 performance and eyes dividend growth

Targa Resources demonstrated robust performance with record volumes and increased EBITDA, underpinned by strategic expansions and operational efficiencies.
While facing challenges like shifting gas volumes, the company's focus on profitability optimization and growth avenues positions it well for the future.
Opportunities lie in dividend growth, EBITDA expansion, and market connectivity, showcasing Targa's commitment to shareholder value and sustainable growth.

Targa Resources achieves record performance in 2023, eyes Permian growth

Targa Resources reported record performance in 2023 and expects continued growth in Permian volumes for 2024.
The company is focused on capital spending for Permian projects, dividend increases, and share repurchases.
Challenges include long lead times for equipment and supply chain issues, but proactive measures are in place.
Opportunities lie in fee-based revenue growth, downstream investments, and evaluating strategic infrastructure projects.

Targa Resources reports record earnings, eyes expansion amid market challenges

Targa Resources delivered strong financial performance in Q1 2024, driven by record EBITDA and operational achievements.
Despite challenges like weather impacts and pricing dynamics, Targa's strategic initiatives and growth projects position it for future success.
The company's focus on expansion, infrastructure development, and market responsiveness underscores its commitment to long-term growth and stability.

Targa Resources Corp reports record Q2 earnings and strategic growth

Targa Resources Corp delivered a stellar second quarter performance, marked by record volumes and financial achievements, setting the stage for continued success.
Despite facing challenges in managing capital spending and growth expectations, the company's strong balance sheet and strategic focus on shareholder returns provide a solid foundation for growth.
Opportunities lie in strategic investments like the Blackcomb pipeline joint venture and continued growth in the Permian, positioning Targa for sustained success in the energy sector.

Targa Resources (TRGP) excels in Q3, plans for growth and sustainability

Targa Resources (TRGP) reported outstanding Q3 results, exceeding guidance and demonstrating operational excellence in key regions. The company's focus on capital allocation priorities, including increasing shareholder returns and sustainability initiatives, reflects a commitment to long-term value creation. While challenges may arise from expansion plans, Targa Resources is poised to leverage growth opportunities and tax incentives for continued success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil, and storing, terminaling, and selling refined petroleum products. It operates through the Gathering and Processing and Logistics and Transportation segments. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities, and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment focuses on the activities necessary to convert mixed NGLs into NGL products and provides certain value-added services such as the storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters, and the storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded in October 2005 and is headquartered in Houston, TX.

HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP), announced today the pricing of an underwritten public offering (the “Offering”) of $1.0 billion aggregate principal amount of its 5.500% Senior Notes due 2035 at a price to the public of 99.943% of their face value. The Offering is expected to close on August 9, 2024, subject to the satisfaction of customary closing conditions.

Targa Resources Corp. Prices $1.0 Billion Offering of Senior Notes

Targa Resources is a high-growth midstream play whose assets provide an integrated system to deliver NGLs from the wellhead to export terminals. The company is very comparable to Enterprise Products in many ways. However, due to its smaller size, TRGP will realize a larger growth rate. With an estimated 13% CAGR, I rate TRGP as a buy with an initial price target of $180/share.

Targa Resources: Large Growth Potential With High Capex Spending

Targa Resources Corp. (NYSE:TRGP ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Sanjay Lad - Vice President, Finance and Investor Relations Matt Meloy - Chief Executive Officer Jen Kneale - President, Finance & Administration Pat McDonie - President, Gathering & Processing Scott Pryor - President, Logistics & Transportation Bobby Muraro - Chief Commercial Officer Conference Call Participants Jeremy Tonet - JPMorgan Spiro Dounis - Citi Theresa Chen - Barclays Michael Blum - Wells Fargo John Mackay - Goldman Sachs Manav Gupta - UBS Keith Stanley - Wolfe Research Sunil Sibal - Seaport Global Tristan Richardson - Scotiabank Operator Good day, and welcome to the Targa Resources Corporation Second Quarter 2024 Earnings Webcast and Presentation. At this time, all participants are in a listen-only mode.

Targa Resources Corp. (TRGP) Q2 2024 Earnings Call Transcript

HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported second quarter 2024 results.

Targa Resources Corp. Reports Record Second Quarter 2024 Results and Increases Full Year 2024 Outlook

Does Targa Resources, Inc. (TRGP) have what it takes to be a top stock pick for momentum investors? Let's find out.

Targa Resources, Inc. (TRGP) is a Great Momentum Stock: Should You Buy?

Baker Hughes Co

ConocoPhillips

Diamondback Energy

Halliburton

Schlumberger

Higher demand and lower inventories should help the top-rated oil stocks outperform.

How to Find the Best Oil Stocks to Buy

NextEra Energy

Exxon Mobil

NextEra Energy is all about the dividend growth, which looks set to keep going at 10% a year. Targa Resources delivered a high-octane return and should have more fuel to continue rising.

3 Dividend Stocks That Were Home Runs in the First Half (Will the Second Half Be as Good?)

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Targa Resources, Inc. (TRGP) have what it takes?

Why Targa Resources, Inc. (TRGP) is a Great Dividend Stock Right Now

HOUSTON, July 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the second quarter of 2024.

Targa Resources Corp. Announces Quarterly Common Dividend and Timing of Second Quarter 2024 Earnings Webcast

Targa Resources has delivered much higher total returns than Enterprise Products Partners this year. The midstream company is growing its earnings and dividends faster than its rival.

Like Enterprise Products Partners But Want More Growth? You Should Check Out This Higher-Octane Rival.

APA Corporation

Coterra Energy

Chevron

Devon Energy

EOG Resources

Hess

Kinder Morgan

Marathon Petroleum

Marathon Oil

ONEOK

Occidental Petroleum

Phillips 66

Valero Energy

Williams

Energy Select Sector SPDR Fund

The energy sector underperformed the S&P500 in Q2 2024, continuing a trend that started earlier, and this is likely to continue heading into H2 2024. There are a number of factors that seem to be weighing on the energy sector, although some stocks are affected more than others. Crude oil is hemmed in between two opposing forces, which are both trying to impose their influence on prices.

Energy Stocks: Winners And Losers At The Beginning Of H2 2024

Considering the unpredictability and volatility of the energy space, we advise focusing on broker-favored stocks like Halliburton (HAL), Valero Energy (VLO) and Targa Resources (TRGP).

3 Broker-Recommended Stocks That Energy Investors Must Track

Ameriprise Financial

Cenovus Energy

Garmin

Infosys

JPMorgan Chase & Co

KLA-Tencor

Eli Lilly

NVIDIA

Taiwan Semiconductor Manufacturing

Vistra Energy

The Top Dividend Growth stock model aims to deliver optimal total return with reliable growth factors and high dividends for higher profitability long-term. Only one stock of the 15 largest Mega Cap stocks with +61.5% YTD returns offers a dividend yield above 2%, impacting total return and growth factors. Since 2020 inception, the Growth & Dividend portfolio model has delivered +15.28% average returns and compounded returns of +103.66%, well above the S&P 500.

Top Growth And Dividend Long-Term Stocks For Mid-Year 2024

Super Micro Computer

Applied Materials

Arista Networks

Broadcom

Constellation Energy Corp

CrowdStrike

Deckers Outdoor

First Solar

Howmet Aerospace

Micron Technology

NRG Energy

NetApp

Western Digital

This has been a very good year for the stock market as a whole, although the performance of broad U.S. indexes also underscores how important the weighting of an index can be.

Super Micro and Nvidia lead the S&P 500 this year. These stocks follow.

Why Targa Resources, Inc. (TRGP) is a Top Dividend Stock for Your Portfolio

HOUSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today the following organizational changes, with the changes approved by Targa's Board of Directors effective July 22, 2024. As part of Targa's long-term development plans, Jennifer R. Kneale, current Chief Financial Officer (“CFO”), will become President - Finance and Administration. Jen will continue to report to Matthew J. Meloy, Targa's Chief Executive Officer. William A. Byers will join Targa as Chief Financial Officer, reporting to Jen. Will previously served as CFO at Manchester Energy, LLC (“Manchester”) and Executive Vice President and CFO at Navitas Midstream Partners, LLC (“Navitas”).

Targa Resources Corp. Announces Organizational Changes

Shell PLC

Oil and natural gas production in the U.S. is booming. Growth is particularly strong in the Permian Basin that straddles Texas and New Mexico.

Wall Street Favorites: 3 Energy Stocks With Strong Buy Ratings for June 2024

NGL Energy Partners

Sunoco

3 Refining & Marketing MLP Stocks That Are Worth a Look

Targa Resources, Inc. (TRGP) is a Top Dividend Stock Right Now: Should You Buy?

Brokers Love These Energy Stocks, It's Time You Take a Look

HOUSTON, May 20, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the 21st Annual Energy Infrastructure CEO & Investor Conference in Aventura, FL on Wednesday, May 22, 2024.

Targa Resources Corp. to Participate in 21st Annual Energy Infrastructure CEO & Investor Conference

Murphy USA

Amid concerns over cyclical fluctuations in the energy sector, dividends are flourishing. We delve into the recent payout increases from MUSA, TRGP, CVE and PSX.

4 Energy Companies That Recently Pumped Up Their Dividends

Targa (TRGP) expects 2024 growth capital expenditures between $2.3 billion and $2.5 billion, with net maintenance capital spending of $225 million.

Targa Resources (TRGP) Q1 Earnings Miss Estimates, Rise Y/Y

Targa Resources Corp. has been a top performer in the Oil and Gas Storage and Transportation industry, with a 1-Year Total Return of 55%. The company`s multiples are historically higher compared to peers which may be for a good reason. A one-off recognition of cumulative interest on a 2024 legal ruling affected the net income, but adjusted EBITDA is at its record levels.

Targa Resources: Improving Ebitda And Possible Upside Potential

Targa Resources Corp. (NYSE:TRGP ) Q1 2024 Earnings Conference Call May 2, 2024 11:00 AM ET Company Participants Sanjay Lad - VP, Finance & IR Matt Meloy - CEO Jen Kneale - CFO Scott Pryor - President, Logistics and Transportation Pat McDonie - President, Gathering and Processing Bobby Muraro - Chief Commercial Officer Conference Call Participants Michael Blum - Wells Fargo Theresa Chen - Barclays Jeremy Tonet - JPMorgan Securities John Mackay - Goldman Sachs Spiro Dounis - Citi Jacob Nivasch - Truist Securities Neel Mitra - Bank of America Keith Stanley - Wolfe Research Tristan Richardson - Scotiabank Sunil Sibal - Seaport Global Zack Van Everen - TPH & Company Operator Thank you for standing by. Welcome to the Targa Resources First Quarter 2024 Earnings Webcast and Presentation.

Targa Resources Corp. (TRGP) Q1 2024 Earnings Call Transcript

News for Targa Resources Stock (TRGP)