Targa Resources Corp.'s Stock Analysis

Targa Resources Announces $1.5 Billion Senior Notes Offering

Targa Resources Corp. has priced an underwritten public offering of $1.5 billion in senior notes, which includes $750 million of 4.350% Senior Notes due 2031 and $750 million of 6.050% Senior Notes due 2056. The notes are set to close on March 2, 2026, and are guaranteed by certain subsidiary guarantors. The company plans to use the net proceeds for general corporate purposes, including repaying borrowings under its commercial paper program and funding capital expenditures.

The offering is being made under an effective shelf registration statement with the U.S. Securities and Exchange Commission. The interest on the 2031 Notes will be paid semi-annually starting October 15, 2026, while the 2056 Notes will begin interest payments on November 15, 2026. In the event of a default, the obligations under the notes may be accelerated, requiring immediate payment of the principal amount.

Feb 26, 2026 16:06:12

Targa Resources Reports Record Financial Results for 2025

Targa Resources Corp. announced its financial results for the fourth quarter and full year of 2025, reporting a net income of $545 million for Q4 2025, up from $351 million in Q4 2024. For the full year, net income reached $1.923 billion, compared to $1.312 billion in 2024. The company also achieved record adjusted EBITDA of $1.341 billion for Q4 2025 and $4.957 billion for the entire year, marking a 20% increase from 2024. Targa's operational growth was driven by increased volumes in its Permian operations and significant capital expenditures, including the completion of new processing plants and ongoing projects in the pipeline segment.

Looking ahead, Targa expects adjusted EBITDA for 2026 to be between $5.4 billion and $5.6 billion, reflecting an 11% increase over 2025. The company plans to recommend a common dividend of $5.00 per share for 2026, a 25% increase from the previous year. Targa also reported significant share repurchases totaling $642 million for 2025 and has $1.374 billion remaining under its share repurchase programs. The company continues to focus on expanding its infrastructure and enhancing shareholder returns through dividends and stock repurchases.

Feb 19, 2026 06:15:25

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