Industry Analysis - The oil and gas industry is described as a cyclical, boom-bust sector, requiring patience and experience to navigate effectively [2] - Long-term focus and expertise are emphasized as critical for success in this volatile industry [2] Company Analysis (Targa Resources) - Targa Resources (NYSE: TRGP) demonstrated resilience during challenging times, as evidenced by its survival strategy in 2020 [2] - The company implemented a dividend cut to $0.10 per share in 2020 to prioritize debt repayment, showcasing a focus on financial stability [2] Research Methodology - The analysis of oil and gas companies involves a comprehensive examination of balance sheets, competitive positioning, and development prospects [1] - The research service provides exclusive, in-depth analysis on select companies not available on free platforms [1] Analyst Background - The analyst has extensive experience in the oil and gas industry, with a professional background as a retired CPA and holding both an MBA and MA degree [2]

| --- | --- | --- | |-------|-------|--------------------------------------------------------------------| | | | Exhibit 99.1 | | | | | | | | 811 Louisiana, Suite 2100 Houston, TX 77002 713.584.1000 | Targa Resources Corp. Reports Record Third Quarter 2024 Results and Announces Expectations for a 33% Year-Over-Year Increase to its 2025 Common Dividend HOUSTON – November 5, 2024 - Targa Resources Corp. (NYSE: TRGP) ("TRGP," the "Company" or "Targa") today reported third quarter 2024 results. Third quarter 20 ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced its quarterly dividend on common shares with respect to the third 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 third quarter of 2024. This cash dividend will be paid November 15, 2024 on all outstanding common shares to holders of record as of the clo ...

Wall Street analysts are too bullish on third quarter earnings expectations for most S&P 500 companies. The percentage of S&P 500 companies whose Street EPS exceeds our Core EPS equals 74% through 2Q24. For the stock most likely to beat, see Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving com ...

HOUSTON, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate virtually from Houston, TX in investor meetings at the Wolfe Research Utilities, Midstream & Clean Energy Conference held in New York, NY on Monday, September 30, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to ht ...

Targa Resources Corp. (TRGP) has had a remarkable run this year, with its share price jumping 75.9% year to date, which is an impressive feat compared with the broader oil and energy sector managing only a 2.9% gain. Even within its sub-industry, which has gained 40.6%, TRGP has performed remarkably. With the S&P 500 rising 19.7%, it's clear that TRGP is booming while many others are lagging behind. This raises an important question for investors: Should they take a leap and ride this wave or hold for a bet ...

HOUSTON, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the Citi One-on-One Midstream and New Energy Infrastructure Conference in Las Vegas, NV on Tuesday, August 13 and Wednesday, August 14, 2024. A copy of the slides used for the conference meetings will be available in the Investors section of the Company's website at www.targaresources.com, or by going to https: ...

Targa Resources Corp. (TRGP) reported second-quarter 2024 earnings of $1.33 per share, which beat the Zacks Consensus Estimate of $1.21. The outperformance could be attributed to strong volumes across its systems in the reported quarter. However, the bottom line deteriorated from the year-ago quarter's level of $1.44. The year-over-year underperformance resulted from higher product costs. Revenues totaled $3.6 billion, up 4.6% year over year. The increase was driven by higher sales of commodities and fees f ...

Core Thesis - Targa Resources (NYSE:TRGP) is a midstream company focused on a vertically integrated value chain for natural gas and natural gas liquids from the Permian Basin to international markets, with significant capital deployment for growth [2][3] Company Profile - TRGP derives over 80% of its natural gas and NGL volumes from the Permian Basin, with operations encompassing gathering, processing, and fractionation, culminating in LPG exports to Asia [3] Growth Trajectory - Since the end of the pandemic, TRGP has completed several M&A transactions and built out its integrated system, increasing CAPEX from $500 million in 2021 to an estimated $2.7 billion through 2024, with 2024 expected to be the peak year for CAPEX [4][5] EBITDA Growth - TRGP projects EBITDA to reach $4.0 billion in 2024, with potential growth to $5.1 billion by 2026, implying over 25% growth and a 13% CAGR, driven by ongoing projects [6][7] Investment Strategy - The company is investing in the Blackcomb pipeline, taking a 17.5% minority stake with a $200 million investment, which supports production growth in the Permian [8] Valuation Analysis - TRGP currently trades at a higher EV to EBITDA multiple than EPD, but the expected higher EBITDA growth rate suggests that TRGP will outperform EPD in share price performance [9][10] Financial Projections - EBITDA for 2024 is projected at $4.0 billion, with a net cash burn of $1.185 billion, but 2025 is expected to show a neutral cash balance after CAPEX, dividends, and buybacks [14][13] Key Takeaways - Targa Resources is positioned for high growth with an integrated system for NGL delivery, comparable to Enterprise Products, but with a larger growth rate due to its smaller size [16] - CAPEX is expected to decrease by approximately $1 billion from 2024 levels, allowing the company to operate within free cash flow and stabilize debt levels [16] - The combination of higher growth rates and share repurchases is anticipated to drive significant share price appreciation, making TRGP ideal for investors seeking capital appreciation [16]