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

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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.

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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. 30, 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 Barclays CEO Energy & Power Conference in New York, NY on Wednesday, September 4, 2024.

Targa Resources Corp. to Participate in Barclays CEO Energy & Power Conference

HOUSTON, Aug. 09, 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 Citi One-on-One Midstream and New Energy Infrastructure Conference in Las Vegas, NV on Tuesday, August 13 and Wednesday, August 14, 2024.

Targa Resources Corp. to Participate in Citi One-on-One Midstream and New Energy Infrastructure Conference

Targa (TRGP) anticipates its capital expenditure for 2024 to be at $2.7 billion, with net maintenance capital expenditures amounting to $225 million.

Targa (TRGP) Q2 Earnings Beat Estimates, Revenues Rise Y/Y

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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?

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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.

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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).

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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

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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

News for Targa Resources Stock (TRGP)