Houston, Texas-based Targa Resources Corp. (TRGP) owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. With a market cap of approximately $38.8 billion, Targa Resources operates through Gathering and Processing and Logistics and Transportation segments. Companies worth $10 billion or more are generally described as “large-cap stocks.” Targa fits this bill perfectly. Given the company’s strong presence and influence in the energy sec ...

Targa Resources Corp. (NYSE:TRGP) ranks among the best energy stocks with huge upside potential. On November 18, RBC Capital lifted its price target for Targa Resources Corp. (NYSE:TRGP) to $213 from $208, while maintaining an Outperform rating following the company’s third-quarter 2025 results. The firm observed that Targa Resources Corp. (NYSE:TRGP) displayed robust quarterly performance and expects the company to meet the upper end of its 2025 adjusted EBITDA guidance range, which RBC thinks could be mo ...

Core Insights - The oil market is currently seeking new catalysts after a stagnant month, with geopolitical tensions failing to impact prices significantly [1][9] Price Forecasts - Analysts predict an average price of $62 per barrel for 2026, a decrease of $10 from earlier forecasts [3] - The IEA anticipates a significant oversupply of 4.2 million barrels per day (b/d) in 2026, while conservative estimates suggest a stock-build of 0.5 million b/d [3] Market Dynamics - US shale output is expected to decline next year, with WTI projected to average $59 per barrel, which is $3-4 below the breakeven cost for new Permian wells, potentially stabilizing prices [4] - High freight costs have limited the influx of Atlantic Basin oil into Asia, but a negative Brent-Dubai EFS spread indicates that easing freight costs may soon change this [4] Market Movements - Chevron is expanding its operations by entering two oil and gas exploration blocks in Nigeria, covering 2,000 km² [6] - Targa Resources has agreed to acquire Stakeholder Midstream for $1.25 billion, enhancing its natural gas processing capabilities [6] - BP has fully restarted its Olympic Pipeline system after a month-long halt due to a leak [7] - ExxonMobil is considering acquiring Lukoil's 75% stake in the West Qurna-2 project in Iraq [7] Recent Market Activity - November was characterized by low volatility, with ICE Brent trading within a narrow range of $62.48 to $65.16 [9] - The OPEC+ meeting met market expectations, and attention is now focused on diplomatic efforts between Moscow and Kyiv that could influence future market conditions [9]

Core Insights - Targa Resources has agreed to acquire Stakeholder Midstream for $1.25 billion in cash, enhancing its operations in the Permian Basin [1][2] - The acquisition is expected to close in the first quarter of 2026, pending regulatory approval [3] Company Overview - Stakeholder Midstream provides natural gas gathering, treating, processing services, and crude oil gathering and storage in the Permian Basin, operating approximately 480 miles (772 km) of natural gas pipelines [1][2] - The company has a daily cryogenic natural gas processing and sour treating capacity of around 180 million cubic feet per day [1] Financial Aspects - Stakeholder's assets are supported by long-term, fee-based contracts across approximately 170,000 dedicated acres, with low decline rates ensuring a stable volume profile [2] - Targa anticipates that Stakeholder will contribute around $200 million in annual free cash flow with minimal capital expenditure requirements [4] Strategic Implications - Targa's CEO highlighted that the acquisition is a strategic move to create shareholder value, supported by a stable to modestly growing volume profile and minimal capital needs [3][4] - The company plans to finance the acquisition using available liquidity, including cash on hand and its existing $3.5 billion revolving credit facility, with a limited impact on its leverage ratio [5] Advisory Roles - RBC Capital Markets is acting as the financial advisor to Targa, while Jefferies serves as the exclusive financial advisor to Stakeholder [5][6]

Natural gas pipeline operator Targa Resources reached a deal to buy smaller rival Stakeholder Midstream for $1.25 billion in cash https://t.co/rBiQJM2Eek ...

Targa Resources agreed to acquire Stakeholder Midstream, which provides natural gas gathering and processing services in the Permian Basin, for $1.25 billion in cash. ...

December 1st, 2025 – TheNewswire - Vancouver, BC, Canada – Kirkstone Metals Corp. (the “Company” or “Kirkstone”) (TSXV: KSM, FWB:VO0) is pleased to announce that it has retained the services of the Hong Kong office of the international law firm Sidley Austin LLP (“Sidley Austin”) to assist the Company in pursuing a potential secondary listing on the Hong Kong Stock Exchange (“HKEX”).Under the engagement, Sidley Austin will provide legal and regulatory advisory services necessary to support Kirkstone’s appl ...

Pipeline operator Targa Resources said on Monday it will acquire Stakeholder Midstream for $1.25 billion in cash. ...

Core Viewpoint - Targa Resources Corp. has entered into a definitive agreement to acquire Stakeholder Midstream, LLC for $1.25 billion in cash, enhancing its midstream infrastructure and cash flow generation capabilities in the Permian Basin [1][10]. Acquisition Details - The acquisition price of $1.25 billion represents approximately 6 times the estimated unlevered adjusted free cash flow for 2026 [10]. - Stakeholder operates natural gas gathering, treating, and processing services, along with crude gathering and storage services, featuring around 480 miles of natural gas pipelines and a processing capacity of approximately 180 million cubic feet per day [2][10]. - Stakeholder's assets are supported by long-term, fee-based contracts across approximately 170,000 dedicated acres, which exhibit low decline rates, ensuring a stable volume profile [2][10]. Financial Impact - Targa anticipates that Stakeholder will generate unlevered adjusted free cash flow of about $200 million annually, with minimal capital needs and low integration costs [3][10]. - The transaction is expected to have a limited impact on Targa's leverage ratio, maintaining it within the long-term target range of 3.0 to 4.0 times [7][10]. Strategic Fit - The acquisition is viewed as a strategic move to enhance Targa's existing operations, leveraging strong relationships with major producers in the region and complementing its sour gas treating and carbon capture capabilities [4][5][10]. - Targa's CEO emphasized that this transaction aligns with the company's strategy to create shareholder value through balance sheet strength and organic growth opportunities [4][5]. Transaction Timeline and Advisors - The completion of the acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the first quarter of 2026 [7]. - RBC Capital Markets is serving as Targa's financial advisor, while Jefferies is acting as the exclusive financial advisor to Stakeholder [8].

Core Viewpoint - Targa Resources (TRGP) has underperformed in the past year, with a loss of approximately 15% in value due to low dividend yield and exposure to the cyclical NGL segment of the oil and gas sector [1] Company Performance - Targa Resources has experienced a decline of about 15% in share value over the past year [1] - The company's relatively low dividend yield compared to midstream peers has been a contributing factor to its poor performance [1] - Exposure to the more cyclical NGL portion of the oil and gas sector has also posed challenges for Targa Resources [1]