Core Viewpoint - Targa Resources Corp. reported strong financial results for the fourth quarter and full year of 2024, with record adjusted EBITDA and significant growth in volumes across its Gathering and Processing and Logistics and Transportation segments, despite a slight decline in annual net income compared to 2023 [2][7][14]. Financial Performance - Fourth quarter 2024 net income attributable to Targa was $351.0 million, a 17% increase from $299.6 million in Q4 2023 [2][22]. - Full year 2024 net income was $1,312.0 million, down from $1,345.9 million in 2023 [2][22]. - Adjusted EBITDA for Q4 2024 was $1,122.2 million, a 17% increase from $959.9 million in Q4 2023 [2][22]. - Full year adjusted EBITDA reached $4,142.3 million, a 17% increase from $3,530.0 million in 2023 [2][22]. Dividend and Share Repurchase - The company declared a quarterly cash dividend of $0.75 per common share for Q4 2024, totaling approximately $164 million paid on February 14, 2025 [4]. - Targa repurchased 610,683 shares in Q4 2024 at an average price of $176.86, totaling $108.0 million, and repurchased 5,933,050 shares for the full year at an average price of $127.20, totaling $754.7 million [5]. Operational Highlights - The company achieved record volumes in its Gathering and Processing and Logistics and Transportation segments, driven by increased natural gas inlet volumes and higher fees [6][7]. - The completion of new facilities, including the Greenwood II plant and Train 10 fractionator, supported higher transportation and fractionation volumes [7][12]. Capital Expenditures and Growth Projects - Targa estimates 2025 net growth capital expenditures between $2.6 billion and $2.8 billion, including spending for new projects like the Delaware Express and Train 12 [17][14]. - The company announced a new intra-Delaware Basin expansion of its Grand Prix NGL Pipeline and an expansion of LPG export capabilities at its Galena Park Marine Terminal [7][16]. Capitalization and Liquidity - As of December 31, 2024, Targa's total consolidated debt was $14,174.6 million, with total liquidity of approximately $2.0 billion [8][9]. - In February 2025, Targa entered a new five-year revolving facility with a capacity of $3.5 billion, enhancing its liquidity position [10]. 2025 Outlook - Targa expects full year 2025 adjusted EBITDA to be between $4.65 billion and $4.85 billion, representing a 15% increase over 2024 [14][15]. - The company anticipates continued growth in its Permian G&P footprint, driving record volumes in 2025 [14].

The upcoming report from Targa Resources, Inc. (TRGP) is expected to reveal quarterly earnings of $1.88 per share, indicating an increase of 52.9% compared to the year-ago period. Analysts forecast revenues of $4.08 billion, representing a decrease of 3.8% year over year.The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates durin ...

Targa Resources Corp. (TRGP) is set to report fourth-quarter earnings on Feb. 20. The Zacks Consensus Estimate for earnings is pegged at $1.88 per share and the same for revenues is pinned at $4.08 billion.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Let us delve into the factors that might have influenced TRGP’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter. Highlights of TRGP’s Q3 Earn ...

Analysts on Wall Street project that Targa Resources, Inc. (TRGP) will announce quarterly earnings of $1.88 per share in its forthcoming report, representing an increase of 52.9% year over year. Revenues are projected to reach $4.08 billion, declining 3.8% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during ...

Wall Street analysts forecast that Targa Resources, Inc. (TRGP) will report quarterly earnings of $1.88 per share in its upcoming release, pointing to a year-over-year increase of 52.9%. It is anticipated that revenues will amount to $4.08 billion, exhibiting a decline of 3.8% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their init ...

HOUSTON, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE:TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the fourth quarter of 2024. Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the fourth quarter of 2024. This cash dividend will be paid February 14, 2025, on all outstanding common shares to holders of record as of the c ...

Core Viewpoint - Targa Resources Corp. has declared a quarterly cash dividend of $0.75 per common share for the fourth quarter of 2024, with plans to recommend an increase to $1.00 per share for the first quarter of 2025 [2][3]. Dividend Announcement - The quarterly cash dividend of $0.75 per common share translates to an annualized dividend of $3.00 per share, payable on February 14, 2025, to shareholders of record as of January 31, 2025 [2]. - The company intends to recommend an increase in the common dividend to $1.00 per share, or $4.00 annualized, effective for the first quarter of 2025, pending board approval [3]. Financial Reporting - Targa Resources Corp. will report its fourth quarter 2024 financial results before the market opens on February 20, 2025, and will host a live webcast at 11:00 a.m. Eastern Time to discuss these results [4][5]. Company Overview - Targa Resources Corp. is a leading provider of midstream services and one of the largest independent midstream infrastructure companies in North America, focusing on the efficient delivery of energy [6]. - The company operates a diversified portfolio of midstream infrastructure assets, connecting natural gas and NGLs to domestic and international markets [6]. - Targa's operations include gathering, compressing, treating, processing, transporting, and selling natural gas, as well as handling NGLs and crude oil [6].

Targa Resources Corp. (TRGP) has solidified its position as the second-best performing Oil/Energy stock on the S&P 500 in 2024, delivering a remarkable return of more than 100%. Only Texas Pacific Land Corporation (TPL) has surpassed it, surging 123%. TRGP’s meteoric growth far outshines leading energy stocks like ExxonMobil (XOM) , up a modest 10.1%, and Chevron (CVX) , which edged up 0.7%.TRGP, TPL, XOM, CVX Year-to-Date Stock PerformanceImage Source: Zacks Investment ResearchThis extraordinary rally rais ...

Shares of Targa Resources (TRGP -0.30%) were blistering hot in 2024. The midstream company was up more than 105% heading into the final trading days of the year. Add in its dividend, and the total return was even higher. That absolutely crushed the S&P 500, which had a very strong year by delivering a total return of almost 30%. Here's a look at what fueled the energy stock's rally this year, and whether it has the power to continue producing market-crushing returns in 2025.A record-breaking yearTarga Resou ...

Core Viewpoint - Targa Resources, Inc. (TRGP) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimate Revisions - Analysts have been consistently raising their earnings estimates for Targa Resources, with the Zacks Consensus Estimate increasing by 6.5% over the past three months [7]. - For the fiscal year ending December 2024, Targa Resources is expected to earn $6.26 per share, reflecting a 71% increase from the previous year's reported number [11]. Impact on Stock Price - The upgrade in Zacks Rank indicates a positive outlook on Targa Resources' earnings, which is likely to have a favorable impact on its stock price [3][5]. - The correlation between earnings estimate revisions and near-term stock movements suggests that tracking these revisions can be beneficial for investment decisions [6][4]. Zacks Rating System - The Zacks rating system maintains a balanced approach, with an equal proportion of 'buy' and 'sell' ratings across its universe of over 4,000 stocks, ensuring that only the top 20% receive a Zacks Rank 2 or better [8][14]. - The Zacks Rank stock-rating system has a strong track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [10].