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.

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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.

Targa Resources (TRGP) completes the earlier announced acquisition, which was to be closed by the second quarter of 2022.

Targa (TRGP) Completes $200 Million Southcross Energy Takeover

Targa Resources continued to defy expectations with a very strong performance during 2021, which helped see their dividends being increased by 250%. Their financial performance is expected to see another strong increase once again during 2022 with forecast double-digit earnings growth.

Targa Resources: More Dividend Growth Coming, Could Even Quadruple Next Year

HOUSTON, April 21, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has completed the previously announced acquisition of Southcross Energy Operating LLC and its subsidiaries in South Texas.

Targa Resources Corp. Completes Acquisition of Bolt-On Assets

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Why Targa Resources, Inc. (TRGP) is a Top Momentum Stock for the Long-Term

HOUSTON, April 18, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP), a Delaware corporation (the “Company”), today announced that it will deliver a notice of redemption to the holders of 9.5% Series A Preferred Stock (the “Series A Preferred Stock”) of the Company to call for redemption on May 3, 2022 (the “Redemption Date”) all of the issued and outstanding Series A Preferred Stock pursuant to and in accordance with that certain Certificate of Designations of Series A Preferred Stock of the Company, dated as of March 16, 2016. Following the redemption, there will be no Series A Preferred Stock outstanding, dividends on the Series A Preferred Stock will cease to accumulate and all rights of the holders of shares of Series A Preferred Stock will terminate, except the right of such holders to receive the Redemption Consideration (as defined below).

Targa Resources Corp. Announces Full Redemption of its 9.5% Series A Preferred Stock

HOUSTON, April 14, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares and its quarterly dividend on Series A preferred shares with respect to the first quarter of 2022.

Targa Resources Corp. Announces Quarterly Dividends and Timing of First Quarter 2022 Earnings Webcast

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Income Opportunities: Midstream Dividends Trending in the Right Direction

HOUSTON, April 06, 2022 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP) announced today that its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its 5.875% Senior Notes due 2026 (the “2026 Notes”) expired at 5:00 p.m., New York City time, on April 5, 2022, (the “Expiration Time”). As of the Expiration Time, $482,158,000 aggregate principal amount of the 2026 Notes (50.06%) were validly tendered, which excludes $2,804,000 aggregate principal amount of the 2026 Notes that remain subject to guaranteed delivery procedures. The Partnership expects to accept for payment all such 2026 Notes validly tendered and not validly withdrawn in the Tender Offer and expects to make payment for the 2026 Notes on April 6, 2022, subject to TRGP's successful completion of its previously announced underwritten public offering of (i) $750,000,000 in aggregate principal amount of TRGP's 4.200% Senior Notes due 2033 and (ii) $750,000,000 in aggregate principal amount of TRGP's 4.950% Senior Notes due 2052 (the “Financing Condition”), which is expected to close today. The settlement date for any notes tendered pursuant to a Notice of Guaranteed Delivery is expected to be on April 8, 2022. Concurrently with the launch of the Tender Offer, the Partnership exercised its right to optionally redeem, on April 22, 2022, any 2026 Notes not validly tendered and purchased in the Tender Offer at a redemption price of 102.938% of the principal amount thereof plus accrued interest, pursuant to the terms of the Indenture relating to the 2026 Notes, conditioned upon and subject to satisfaction of the Financing Condition.

Targa Resources Partners LP Announces Expiration and Final Results of Tender Offer for its 5.875% Senior Notes due 2026

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HOUSTON, March 23, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP), announced today the pricing of an underwritten public offering (the “Offering”) of $750 million aggregate principal amount of its 4.200% senior notes due 2033 and $750 million aggregate principal amount of its 4.950% senior notes due 2052 at a price to the public of 99.815% and 99.333%, respectively, of their face value. The Offering is expected to close on April 6, 2022, subject to customary closing conditions. The Company intends to use a portion of the net proceeds from the Offering to fund the previously announced purchase (the “Tender Offer”) of 5 7/8% Senior Notes due 2026 (the “2026 Notes”) of Targa Resources Partners LP or to fund the previously announced redemption of any 2026 Notes not purchased in the Tender Offer, with the remaining net proceeds to be used to repay a portion of the amounts outstanding under the Company's revolving credit facility. The Offering is not conditioned on the consummation of the Tender Offer. The Tender Offer is conditioned on, among other things, the Offering.

Targa Resources Corp. Prices $1.5 Billion Offering of Senior Notes

HOUSTON, March 23, 2022 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (“Targa Resources Partners” or the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP), announced today that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes listed in the following table upon the terms and conditions described in the Partnership's Offer to Purchase dated March 23, 2022 (the “Offer to Purchase”).

Targa Resources Partners LP Announces Tender Offer for its 5.875% Senior Notes due 2026

In a transaction worth $200 million, Targa Resources Corp. (TRGP) to take over Southcross Energy and its subsidiaries in South Texas.

Targa (TRGP) to Acquire Southcross Energy for $200 Million

HOUSTON, March 17, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has executed agreements to acquire Southcross Energy Operating LLC and its subsidiaries in South Texas for $200 million.

Targa Resources Corp. Executes Agreements to Acquire Bolt-On Assets for $200 Million

HOUSTON, March 08, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings via video conference at the Evercore ISI Elite Energy & Materials Summit on Wednesday, March 9, 2022.

Targa Resources Corp. to Participate in Evercore ISI Elite Energy & Materials Summit

Targa Resources' (TRGP) fourth-quarter earnings lag the consensus mark, while revenues beat estimates.

Targa (TRGP) Earnings Miss, Revenues Beat Estimates in Q4

Targa Resources Corp. (TRGP) CEO Matt Meloy on Q4 2021 Results - Earnings Call Transcript

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Why Targa Resources, Inc. (TRGP) is a Top Value Stock for the Long-Term

HOUSTON, Feb. 24, 2022 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRC”, the “Company” or “Targa”) today reported fourth quarter and full year 2021 results.

Targa Resources Corp. Reports Fourth Quarter and Full Year 2021 Financial Results and Provides 2022 Operational and Financial Outlook

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Targa Resources is a midsized midstream company that operates primarily in the Permian and Williston Basins.

Targa Resources: Starting To Make Sense For New Money

Targa Resources (TRGP) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy Targa Resources (TRGP) Ahead of Earnings?

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