Targa Resources Corp.'s Stock Analysis

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

Targa Resources Announces $2 Billion Senior Notes Offering

Targa Resources Corp. has priced a public offering of $2.0 billion in senior notes, consisting of $1.0 billion of 5.550% notes due in 2035 and $1.0 billion of 6.125% notes due in 2055. The offering is set to close on February 27, 2025, and the company plans to use a portion of the proceeds to repurchase preferred equity from its joint venture partner for approximately $1.8 billion, related to its North Dakota assets. The remaining funds will be allocated for general corporate purposes, including the repayment of borrowings under its commercial paper program and other debts, as well as capital expenditures and investments in subsidiaries.

On the downside, the completion of the Badlands Transaction is not guaranteed, as the closing of the offering is not contingent upon it. If the transaction does not proceed, the company will still utilize the proceeds for general corporate purposes but may face uncertainties regarding its financial strategy and obligations. The announcement does not constitute an offer to sell or solicit any offers to buy the securities, adhering to regulatory requirements.

Feb 25, 2025 16:41:51

Targa Resources Reports Changes in Income and EBITDA Metrics

Targa Resources Corp. announced a net income of $351.0 million for the fourth quarter of 2024, an increase from $299.6 million in the same quarter of 2023. The company also achieved record adjusted EBITDA of $1,122.2 million for the fourth quarter, up from $959.9 million year-over-year. Additionally, Targa reported a full year 2024 net income of $1,312.0 million, slightly down from $1,345.9 million in 2023, despite an overall adjusted EBITDA increase for the year to $4,142.3 million from $3,530.0 million in 2023. The company successfully completed several expansions and repurchased a significant number of shares, totaling $755 million in 2024, indicating a focus on returning capital to shareholders.

On the negative side, Targa's full year net income showed a decline compared to the previous year, and the adjusted free cash flow for 2024 decreased to $140.1 million, down 64% from $392.7 million in 2023. The company faced challenges with lower natural gas prices impacting commodity sales, which were relatively flat year-over-year. Additionally, the increase in operating expenses was attributed to higher maintenance and labor costs due to increased activity and system expansions. The company also noted a decrease in marketing margins sequentially, which could affect future profitability.

Feb 20, 2025 06:15:09

Targa Resources Reports $387.4 Million Net Income in Q3 2024

Targa Resources Corp. announced record net income of $387.4 million for the third quarter of 2024, a significant increase from $220.0 million in the same quarter of the previous year. The company achieved a record adjusted EBITDA of $1,069.7 million, driven by higher volumes in its Gathering and Processing and Logistics and Transportation segments. Targa also completed its Daytona NGL Pipeline expansion and repurchased approximately $168 million of common stock, reflecting its commitment to returning value to shareholders. Additionally, the company expects to recommend a 33% increase in its common dividend for 2025.

On the downside, Targa experienced a decline in sales of commodities, which fell by 5% year-over-year, primarily due to lower natural gas and NGL prices. Operating expenses also rose by 8%, attributed to increased labor and maintenance costs linked to higher activity levels and system expansions. Furthermore, the company's total consolidated debt reached $14.25 billion, raising concerns about its financial leverage. Despite these challenges, Targa's liquidity position remains strong with approximately $1.9 billion available.

Nov 05, 2024 06:15:09