Core Viewpoint - A severe winter storm has impacted the entire United States, leading to significant reductions in oil and gas production, with a peak daily decrease of 2 million barrels, representing a 15% drop in national output [2][11]. Oil Production Impact - The Energy Aspects consultancy reported that the peak reduction in U.S. oil production occurred on Saturday, with an average daily decrease of 2 million barrels, primarily from the Permian Basin, which accounted for approximately 1.5 million barrels of the reduction [2][11]. - By Monday, the reduction eased, with the Permian Basin's shutdown scale dropping to an average of 700,000 barrels per day, and full recovery is expected by January 30 [2][11]. - ConocoPhillips reported a reduction of 175,000 barrels per day in the Permian Basin due to the severe weather [2][11]. Operational Challenges - Chevron reported issues at its Midland, Texas facility due to frozen equipment, and the Texas Oil and Gas Association noted significant challenges in third-party transportation, particularly in water transport and technician scheduling [3][11]. - Over twenty companies, including Western Oil and Targa Resources, reported operational failures at their natural gas processing plants and compressor stations in Texas, although the number of failures was significantly lower than during the severe winter storm in 2021 [3][11]. Natural Gas Production - North Dakota's oil production is expected to decrease by 80,000 to 110,000 barrels per day, with associated natural gas production dropping by 240 to 330 million cubic feet [4][12]. - The average daily natural gas production in the U.S. has fallen to 10.69 billion cubic feet, down from a historical high of 10.97 billion cubic feet in December [5][13]. Refinery Operations - Several refineries along the Gulf Coast faced operational issues due to the freezing weather, including ExxonMobil, which closed parts of its facility in Baytown, Texas [5][13]. - The IIR reported that the Suncor refinery in Lima, Ohio, with a capacity of 172,000 barrels per day, experienced mechanical failures, delaying full restart until later in the week [6][14]. Electricity Supply and Demand - The winter storm has caused power outages for over 1 million households and businesses, with approximately 810,000 customers still without power as of Monday [7][16]. - The PJM Interconnection expects a generation interruption of 22.4 gigawatts, about 16% of its total committed capacity, primarily affecting the Mid-Atlantic region [8][17]. - Electricity prices surged, with wholesale prices reaching around $200 per megawatt-hour, having previously exceeded $3,000 [8][17]. Prices in New England spiked by approximately 82% to $313 per megawatt-hour, while prices in Pennsylvania and Maryland surged by about 360% to around $413 per megawatt-hour, the highest since January 2014 [8][17].

Founded in 2005, Houston, Texas-based Targa Resources Corp. (TRGP) owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. The company has a market capitalization of $39.8 billion and is expected to release its Q4 2025 earnings on Thursday, Feb. 19, before the market opens. Ahead of the event, analysts expect the company to generate a profit of $2.35 per share on a diluted basis, up 63.2% from $1.44 per share in the year-ago quarter. The compan ...

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HOUSTON, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) today announced its quarterly dividend on common shares with respect to the fourth quarter of 2025. Targa announced today that its board of directors has declared a quarterly cash dividend of $1.00 per common share, or $4.00 per common share on an annualized basis, for the fourth quarter of 2025. This cash dividend will be paid February 13, 2026, on all outstanding common shares to holders of record as o ...

Oakmark Funds, advised by Harris Associates, released its “Oakmark Select Fund” fourth-quarter 2025 investor letter. Oakmark Select Fund is a non-diversified fund that aims to deliver capital appreciation by investing in mid and large-cap US companies. A copy of the letter can be downloaded here. In the quarter, the fund (investor class) outperformed the S&P 500 Index, returning 8.42% vs. 2.66% for the index. Communication services and financials were the top contributors at the sector level, while industr ...

HOUSTON, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today that it has closed the previously announced acquisition of Stakeholder Midstream, LLC for $1.25 billion in cash. The acquisition has an effective date of January 1, 2026.   About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and de ...

Now you can get access to the latest and highest-quality analysis of recent Wall Street buying and selling ideas with just one subscription to Beyond the Wall Investing ! There is a free trial and a special discount of 10% for you. Join us today!What's been happening since the beginning of 2026 seems to be fundamentally shifting the global energy map, making all bullish calls on ( XLE ) closer to reality (this particular ETF is upDaniel Sereda is chief investment analyst at a family office whose investments ...

Core Viewpoint - ExxonMobil's updated 2030 corporate plan significantly benefits the midstream sector, particularly Targa Resources Corp, due to increased production targets in the Permian Basin [1][3]. Group 1: ExxonMobil's Production Targets - Exxon raised its 2030 Permian production guidance by 200,000 barrels of oil equivalent per day (boepd), now targeting a total of 2.5 million boepd [3]. - This increase in production is particularly advantageous for Targa, which has a strong presence on Pioneer Natural Resources acreage, recently acquired by Exxon [3]. Group 2: Targa Resources' Strategic Position - Targa Resources has a 5.7% weighting in the Alerian Energy Infrastructure ETF, making it a top-ten holding as of December 17 [2]. - The anticipated volume increase aligns with Targa's expansion efforts, including the $1.6 billion Speedway NGL Pipeline, which will transport 500,000 barrels per day from the Permian to Mont Belvieu [4]. Group 3: Market Response - Following Exxon's announcement, Targa's stock gained 2.6% on December 9, outperforming the Alerian Midstream Energy Select Index, which was down 0.5% on the same day [4].

Core Viewpoint - ExxonMobil's updated 2030 corporate plan significantly benefits the midstream sector, particularly Targa Resources Corp, due to increased production targets in the Permian Basin [1][3]. Group 1: ExxonMobil's Production Targets - Exxon raised its 2030 Permian production guidance by 200,000 barrels of oil equivalent per day (boepd), now targeting a total of 2.5 million boepd [3]. - This increase in production is particularly advantageous for Targa, which has a strong position on Pioneer Natural Resources acreage, recently acquired by Exxon [3]. Group 2: Targa Resources' Strategic Position - Targa Resources has a 5.7% weighting in the Alerian Energy Infrastructure ETF, making it a top-ten holding as of December 17 [2]. - The anticipated volume increase aligns with Targa's expansion efforts, including the $1.6 billion Speedway NGL Pipeline, which will transport 500,000 barrels per day from the Permian to Mont Belvieu [4]. Group 3: Market Response - Following Exxon's announcement, Targa's stock gained 2.6% on December 9, outperforming the Alerian Midstream Energy Select Index, which was down 0.5% on the same day [4].

Core Insights - Targa Resources Corp. is a significant player in the North American midstream energy sector, with a market capitalization of approximately $38.8 billion [1][2] - The company's stock has shown volatility, reaching an all-time high of $218.51 on January 22, and is currently trading 18% below that peak, while experiencing an 11.6% increase over the past three months [3][4] Financial Performance - Targa Resources reported a 7.8% year-over-year increase in net revenues for Q3, totaling $4.2 billion, driven by growth in commodity sales and midstream service fees [5] - Adjusted EBITDA rose by 19.2% year-over-year to $1.3 billion, and net income surged 23.5% year-over-year to $478.4 million, indicating robust overall performance despite missing market expectations [5] Market Position - Targa has outperformed its peer Cheniere Energy, which saw a 6.6% decline year-to-date and a 9.5% drop over the past 52 weeks [6] - Among 22 analysts covering Targa's stock, the consensus rating is a "Strong Buy," with a mean price target of $206.18, suggesting a 15.1% upside potential from current levels [6]