Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, purchasing, storing, terminaling, and selling crude oil. It is also involved in the purchase and resale of NGL products; and wholesale of propane, as well as provision of related logistics services to multi-state retailers, independent retailers, and other end-users. In addition, the company offers NGL balancing services; and transportation services to refineries and petrochemical companies in the Gulf Coast area, as well as purchases, markets, and resells natural gas. It operates approximately 28,700 miles of natural gas pipelines, including 42 owned and operated processing plants; and owns or operates a total of 34 storage wells with a gross storage capacity of approximately 75 million barrels. As of December 31, 2020, the company leased and managed approximately 694 railcars; 124 transport tractors; and 2 company-owned pressurized NGL barges. Targa Resources Corp. was incorporated in 2005 and is headquartered in Houston, Texas.
IPO Year: 2010
Exchange: NYSE
Website: targaresources.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/10/2025 | $218.00 | Sector Outperform | Scotiabank |
| 10/17/2024 | $182.00 | Buy | BofA Securities |
| 10/6/2023 | $101.00 | Buy | Goldman |
| 3/2/2023 | $115.00 | Sector Outperform | Scotiabank |
| 12/9/2022 | $95.00 | Buy | Citigroup |
| 9/8/2022 | $93.00 | Buy | Goldman |
| 5/2/2022 | $78.00 | Buy | Truist |
| 3/18/2022 | $58.00 → $85.00 | Neutral → Buy | Mizuho |
| 2/25/2022 | $70.00 → $80.00 | Strong Buy | Raymond James |
| 2/7/2022 | $62.00 | In-line → Outperform | Evercore ISI |
HOUSTON, April 17, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that Joel Thomas has been appointed Senior Vice President - Finance and Treasurer of the Company effective April 13, 2023. Joel joined Targa in 2012 where he served as Associate of Corporate Development and after increasing responsibilities through his time at Targa, was most recently Vice President of Corporate and Commercial Development. Prior to joining Targa, he was with Wells Fargo Securities, in their energy investment banking group. He holds a Bachelor of Business Administration in Business Honors and Finance from The University of Texas at Austin. About Targa R
HOUSTON, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that Paul W. Chung retired from the management team and was appointed Chairman of the Board of Directors effective January 1, 2021. Joe Bob Perkins, previously Executive Chairman of the Board of Directors, retired from the management team and will continue to serve on the Board of Directors. The changes announced today continue the succession contemplated and approved by the Nominating and Governance Committee of Targa’s Board of Directors. From May 2004 to March 2020, Mr. Chung served as Executive Vice President, General Counsel and Secretary of the Company and its pre
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HOUSTON, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the fourth quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the fourth quarter of 2024. This cash dividend will be paid February 14, 2025, on all outstanding common shares to holders of record as of the close of business on January 31, 2025. For the first quarter of 2025, Targa intends to recommend to its Board of Directors an increase to its common dividend to $1.00 per common sha
HOUSTON, Nov. 11, 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 BofA Securities Global Energy Conference in Houston, TX on Wednesday, November 13, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The C
HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported third quarter 2024 results. Third quarter 2024 net income attributable to Targa Resources Corp. was $387.4 million compared to $220.0 million for the third quarter of 2023. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $1,069.7 million for the third quarter of 2024 compared to $840.2 million for the third quarter of 2023. Highlights Record adjusted EBITDA for the third quarter of $1.07 billionRecord Permian, NGL transportation, and fraction
HOUSTON, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2023 is now available on the Company's website at https://www.targaresources.com/sustainability. The report advances Targa's sustainability disclosures and provides a review of Targa's performance for calendar year 2023 against various environmental, social, and governance topics that we believe are important to our industry and our business. Highlights of Targa's Sustainability Report for the 2023 calendar year include the following: Decreased Gathering & Boosting (G&B) sector methane intensity by 19%;Exceeded the original methane int
HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the third quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the third quarter of 2024. This cash dividend will be paid November 15, 2024 on all outstanding common shares to holders of record as of the close of business on October 31, 2024. The Company will report its third quarter 2024 financial results before the market opens for trading on Tuesday, November 5, 2024 and will host a liv
HOUSTON, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate virtually from Houston, TX in investor meetings at the Wolfe Research Utilities, Midstream & Clean Energy Conference held in New York, NY on Monday, September 30, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midst
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. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Co
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. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https://www.targaresources.com/investors/events. About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream
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. The Company expects to use the net proceeds from the Offering for general corporate purposes, including to repay borrowings under its commercial paper note program, a portion of which were incurred to repay the remaining $500.0 million outstanding under its prio
HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported second quarter 2024 results. Second quarter 2024 net income attributable to Targa Resources Corp. was $298.5 million compared to $329.3 million for the second quarter of 2023. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $984.3 million for the second quarter of 2024 compared to $789.1 million for the second quarter of 2023. Highlights Record adjusted EBITDA for the second quarter of $984.3 millionRecord Permian, NGL transportation, and fractionation v
Scotiabank resumed coverage of Targa Resources with a rating of Sector Outperform and set a new price target of $218.00
BofA Securities resumed coverage of Targa Resources with a rating of Buy and set a new price target of $182.00
Goldman resumed coverage of Targa Resources with a rating of Buy and set a new price target of $101.00
Scotiabank initiated coverage of Targa Resources with a rating of Sector Outperform and set a new price target of $115.00
Citigroup initiated coverage of Targa Resources with a rating of Buy and set a new price target of $95.00
Goldman resumed coverage of Targa Resources with a rating of Buy and set a new price target of $93.00
Truist resumed coverage of Targa Resources with a rating of Buy and set a new price target of $78.00
Mizuho upgraded Targa Resources from Neutral to Buy and set a new price target of $85.00 from $58.00 previously
Raymond James reiterated coverage of Targa Resources with a rating of Strong Buy and set a new price target of $80.00 from $70.00 previously
Evercore ISI upgraded Targa Resources from In-line to Outperform and set a new price target of $62.00
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HOUSTON, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the fourth quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the fourth quarter of 2024. This cash dividend will be paid February 14, 2025, on all outstanding common shares to holders of record as of the close of business on January 31, 2025. For the first quarter of 2025, Targa intends to recommend to its Board of Directors an increase to its common dividend to $1.00 per common sha
HOUSTON, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2023 is now available on the Company's website at https://www.targaresources.com/sustainability. The report advances Targa's sustainability disclosures and provides a review of Targa's performance for calendar year 2023 against various environmental, social, and governance topics that we believe are important to our industry and our business. Highlights of Targa's Sustainability Report for the 2023 calendar year include the following: Decreased Gathering & Boosting (G&B) sector methane intensity by 19%;Exceeded the original methane int
HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the third quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the third quarter of 2024. This cash dividend will be paid November 15, 2024 on all outstanding common shares to holders of record as of the close of business on October 31, 2024. The Company will report its third quarter 2024 financial results before the market opens for trading on Tuesday, November 5, 2024 and will host a liv
HOUSTON, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported second quarter 2024 results. Second quarter 2024 net income attributable to Targa Resources Corp. was $298.5 million compared to $329.3 million for the second quarter of 2023. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $984.3 million for the second quarter of 2024 compared to $789.1 million for the second quarter of 2023. Highlights Record adjusted EBITDA for the second quarter of $984.3 millionRecord Permian, NGL transportation, and fractionation v
AUSTIN, Texas, July 31, 2024 /PRNewswire/ -- WhiteWater today announced that WhiteWater, MPLX LP (NYSE:MPLX), and Enbridge Inc. (NYSE:ENB), through the WPC Joint Venture, the joint venture that owns the Whistler Pipeline, have partnered with an affiliate of Targa Resources Corp. (NYSE:TRGP) to reach final investment decision to move forward with the construction of the Blackcomb Pipeline after having secured sufficient firm transportation agreements with predominantly investment grade shippers, including, but not limited to, Devon Energy, Corp. (NYSE:DVN), Diamondback Energy, Inc. (NYSE:FANG), Marathon Petroleum Corp. (NYSE:MPC), and Targa Resources Corp. I Squared owns WhiteWater's stake in
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 announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the second quarter of 2024. This cash dividend will be paid August 15, 2024 on all outstanding common shares to holders of record as of the close of business on July 31, 2024. The Company will report its second quarter 2024 financial results before the market opens for trading on Thursday, August 1, 2024 and will host
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
HOUSTON, May 02, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP," the "Company" or "Targa") today reported first quarter 2024 results. First quarter 2024 net income attributable to Targa Resources Corp. was $275.2 million compared to $497.0 million for the first quarter of 2023. The Company reported record adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items ("adjusted EBITDA")(1) of $966.2 million for the first quarter of 2024 compared to $940.6 million for the first quarter of 2023. Highlights Record adjusted EBITDA for the first quarter of $966.2 millionRecord Permian and liquefied petroleum gas ("LPG") expo
HOUSTON, April 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced today that its board of directors has declared an increase to its quarterly cash dividend to $0.75 per common share, or $3.00 per common share on an annualized basis, for the first quarter of 2024, consistent with previously disclosed expectations. This dividend represents a 50 percent increase over the common dividend declared with respect to the first quarter of 2023. This cash dividend will be paid May 15, 2024 on all outstanding common shares to holders of record as of the close of business on April 30, 2024. The Company will report its first quarter 2024 financial result
HOUSTON, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("TRGP" or the "Company" or "Targa") has filed its Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2023. The report may be accessed at www.sec.gov. The report is also available in the Investors section of the Company's website at www.targaresources.com, or by going directly to https://www.targaresources.com/investors/financial-information/sec-filings. Hard copies of the report may be ordered free of charge by contacting the Company's investor relations department by email at [email protected], or by phone at (713) 584-1133. About Targa Resources Corp