The price trend for Targa Resources, Inc. (TRGP) has been bearish lately and the stock has lost 7.5% over the past two weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall S ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With 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 that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Core Viewpoint - Targa Resources Corp. (TRGP) reported strong third-quarter earnings driven by robust volumes in the Permian Basin, increased NGL sales, and lower product costs, despite a slight decline in revenues due to lower natural gas prices and hedging impacts [1][2]. Financial Performance - Earnings per share for Q3 2024 were $1.75, exceeding the Zacks Consensus Estimate of $1.58 and up from $0.97 in the same quarter last year [1]. - Total revenues reached $3.9 billion, a decrease of 1.1% year-over-year, and fell short of the Zacks Consensus Estimate of $4.2 billion [2]. - Adjusted EBITDA for the quarter was $1.1 billion, an increase from $840.2 million in the prior year [2]. Dividend and Share Repurchase - Targa declared a quarterly cash dividend of $0.75 per share, amounting to an annualized $3, with total cash dividends of approximately $164 million to be distributed on November 15 [3]. - The company repurchased over 1.1 million shares for approximately $167.9 million at an average price of $146.02 per share, with $1.1 billion remaining in its share repurchase program as of September 30 [4]. Operational Highlights - Significant volumes were recorded in the Permian Basin, with the new Greenwood II plant achieving high utilization [5]. - The Gathering and Processing segment reported an operating margin of $584.3 million, up 16% year-over-year, although it missed the consensus estimate [6]. - The Logistics and Transportation segment saw an operating margin of $619.2 million, a 35% increase year-over-year, surpassing the consensus estimate [7]. Volume and Cost Metrics - Fractionation volumes increased by 20% year-over-year to 953.8 thousand barrels per day, while NGL pipeline transportation volumes rose by 26% [8]. - Product costs were $2.4 billion, down 12% from the previous year, while operating expenses increased by 8% to $301 million [9]. Balance Sheet and Debt - As of September 30, Targa had cash and cash equivalents of $127.2 million and long-term debt of $13.6 billion, resulting in a debt-to-capitalization ratio of approximately 76.2% [10]. Future Guidance - For 2024, Targa anticipates adjusted EBITDA to exceed the upper end of its guidance range of $3.95 billion to $4.05 billion, driven by increased infrastructure spending [11]. - The company plans to increase its common dividend to $1.00 per share for Q1 2025, pending approval [12]. - The East Pembrook plant is expected to be completed ahead of schedule in Q2 2026, with new gas processing plants in the Permian expected to commence operations in 2026 [13].

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 ...