Targa Resources Corp.'s Stock Analysis

Targa Resources Completes $1.75 Billion Senior Notes Offering

Targa Resources Corp. has successfully completed a public offering of $1.75 billion in senior notes, consisting of $750 million in 4.350% Senior Notes due 2029 and $1 billion in 5.400% Senior Notes due 2036. These notes are guaranteed on a senior unsecured basis by certain subsidiaries of the company, subject to specific conditions.

The company plans to use part of the proceeds from this offering to redeem existing higher-interest debt, including 6.875% Senior Notes due 2029, and for general corporate purposes. These purposes include repaying borrowings under its commercial paper program, reducing other indebtedness, repurchasing or redeeming securities, and funding capital expenditures or investments in subsidiaries.

Nov 12, 2025 16:30:53

Targa Resources Corp Announces $1.75 Billion Senior Notes Offering

Targa Resources Corp has priced an underwritten public offering of $1.75 billion in senior notes, consisting of $750 million in 4.350% Senior Notes due 2029 and $1.0 billion in 5.400% Senior Notes due 2036. The notes will be offered at prices slightly below their face value and are expected to close on November 12, 2025, pending customary conditions. The notes will be fully guaranteed by certain subsidiary guarantors of the company.

The company plans to use part of the proceeds from this offering to redeem existing 6.875% Senior Notes due 2029 and for general corporate purposes, which may include repaying borrowings under its commercial paper program and funding capital expenditures. The interest on the 2029 Notes will be payable semi-annually beginning January 15, 2026, while the 2036 Notes will start interest payments on January 30, 2026. The offering is being conducted under an effective shelf registration statement with the SEC.

Nov 07, 2025 16:07:28

Targa Resources Reports Record Q3 2025 Results and Dividend Increase

Targa Resources Corp. reported a net income of $478.4 million for the third quarter of 2025, a notable increase from $387.4 million in the same quarter of 2024. The company achieved record adjusted EBITDA of $1,274.8 million, representing a 19% year-over-year increase. Targa also announced plans to increase its common dividend by 25% to $5.00 per share for 2026, following a quarterly dividend of $1.00 per share declared for Q3 2025. The company has repurchased approximately $156 million of its common stock during the quarter and has $1.4 billion remaining under its share repurchase program.

Targa's total consolidated debt as of September 30, 2025, stood at $17.4 billion, with total liquidity of approximately $2.3 billion. The company is actively expanding its operations, including the recent commencement of its Bull Moose II plant and plans for multiple new gas processing plants and pipelines in the Permian Basin. For the full year 2025, Targa estimates adjusted EBITDA to be at the top end of the $4.65 billion to $4.85 billion range, with significant capital expenditures planned to support its growth initiatives.

Nov 05, 2025 06:15:29

Targa Resources Reports Q2 2025 Financial Results and Share Buyback

Targa Resources Corp. reported a net income of $629.1 million for the second quarter of 2025, a significant increase from $298.5 million in the same quarter of 2024. The company’s adjusted EBITDA reached $1.163 billion, reflecting an 18% year-over-year rise, driven by record transportation volumes in the Permian region. Targa repurchased $324 million of its common shares during the quarter and declared a quarterly cash dividend of $1.00 per share, totaling approximately $215 million to be paid on August 15, 2025.

The company’s total consolidated debt stood at $16.85 billion as of June 30, 2025, with approximately $3.5 billion in total consolidated liquidity. Targa's Board of Directors approved a new share repurchase program for up to $1 billion, in addition to the remaining amount from a previous program. The company continues to anticipate full-year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion, supported by ongoing expansions and increased production in the Permian Basin.

Aug 07, 2025 06:15:09

Leadership Change at Targa Resources Corp Affects Logistics Division

D. Scott Pryor has announced his retirement as President – Logistics and Transportation of Targa Resources Corp, effective March 1, 2026. His decision to retire is not due to any disagreements with the company. In his place, Benjamin J. Branstetter has been appointed to the role, also effective March 1, 2026. Branstetter currently serves as Senior Vice President – Downstream Commercial and has held various positions within the company since 2017, bringing significant experience to his new role.

The company will enter into a standard indemnification agreement with Branstetter, which will protect him against liabilities arising from his service as an executive officer. This agreement ensures that he will be indemnified to the fullest extent permitted under Delaware law and will have expenses advanced in the event of legal proceedings. The details of the indemnification agreement align with the company's standard practices for its executives.

Aug 06, 2025 16:45:43

Targa Resources Extends Accounts Receivable Facility to 2026

Targa Resources Partners LP, a subsidiary of Targa Resources Corp, has amended its Receivables Purchase Agreement to extend the termination date of its accounts receivable securitization facility to August 31, 2026. As of July 28, 2025, approximately $600 million in trade receivable purchases were outstanding under this facility.

The amendment involves various parties including PNC Bank as the administrator and issuer of letters of credit. The committed purchasers involved in the agreement have previously provided investment banking and financial services to the Company and may continue to do so in the future. Additionally, the Company has engaged in commodity swap transactions with certain committed purchasers, which are considered customary for such arrangements.

Jul 28, 2025 16:31:19

Company Files Financial Statements Under Securities Exchange Act

The company has submitted its financial statements and exhibits as required by the Securities Exchange Act of 1934. This filing has been officially signed by William A. Byers, who is authorized to act on behalf of the company.

Jun 18, 2025 16:30:34

Targa Resources Prices $1.5 Billion Senior Notes Offering

Targa Resources Corp. has announced the pricing of a public offering of $1.5 billion in senior notes, consisting of $750 million in 4.900% notes due 2030 and $750 million in 5.650% notes due 2036. The offering is set to close on June 18, 2025, pending customary closing conditions. The company plans to use part of the proceeds to redeem existing 6.500% senior notes due 2027 and for general corporate purposes, including debt repayment and capital expenditures.

As a leading provider of midstream services in North America, Targa Resources operates a diverse portfolio of infrastructure assets that connect natural gas and liquids to various markets. The company’s operations are essential for the delivery of energy across the U.S. and internationally, catering to the growing demand for cleaner fuels. The offering is being conducted under an effective shelf registration statement with the SEC.

Jun 06, 2025 06:04:50

Targa Resources Reports Record EBITDA and Increased Dividend

Targa Resources Corp. announced its financial results for the first quarter of 2025, reporting a net income of $270.5 million, slightly down from $275.2 million in the same quarter of 2024. The company achieved a record adjusted EBITDA of $1,178.5 million, representing a 22% increase year-over-year. Targa also repurchased $214 million of its common shares through April 2025 and declared an annual common dividend of $4.00 per share, marking a 33% increase from the previous year. The total cash dividends of approximately $217 million will be disbursed on May 15, 2025, to shareholders on record as of April 30, 2025.

In its report, Targa highlighted a sequential quarterly increase of 5% in adjusted EBITDA compared to the fourth quarter of 2024, driven by higher marketing margins and contributions from the Badlands transaction. However, winter weather events negatively impacted volumes across its Gathering and Processing and Logistics and Transportation systems. As of March 31, 2025, Targa had a total consolidated debt of $16.2 billion and approximately $2.7 billion in total liquidity. The company continues to expect full-year 2025 adjusted EBITDA to range between $4.65 billion and $4.85 billion, supported by growth across its Permian G&P footprint.

May 01, 2025 06:15:09

Company Files Financial Statements Under Securities Exchange Act

The company has submitted its financial statements as required by the Securities Exchange Act of 1934. This filing indicates compliance with regulatory obligations and is signed by authorized personnel, ensuring proper documentation of the company's financial position.

No specific financial metrics or changes were detailed in the press release. The focus remains on the compliance aspect of the filing rather than any financial performance highlights or concerns.

Feb 27, 2025 16:30:23