Targa Resources Corporation (TRGP)

JUST IN: $TRGP Targa Resources Corp. Releases Sustainability Report

HOUSTON, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its Sustainability Report for 2019 is now available on the Company’s website at https://www.targaresources.com/sustainability . The report advances Tar...

Got this from TRGP - Targa Resources Corp. Releases Sustainability Report

News: $TRGP Targa NGL Pipeline Company Launches Open Season

HOUSTON, July 01, 2020 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that Targa NGL Pipeline Company LLC (“Targa NGL Pipeline”), a wholly owned subsidiary of the Company, has launched an open season commencing July 1, 2020 an...

In case you are interested TRGP - Targa NGL Pipeline Company Launches Open Season

Trgp $26s+$2.75+11% another great day. Pre corona scare paying
.91 per qtr dividend. It will likely do so again when crude is back in $50s. It's all good. Thanks the dems for giving us a once every 20yrs buying op.

TRGP $14.42 +$1.03+7.77% Breaking out mar 8-9 gap down 27.5-21.35. Lots of room to run been here since mar 24 $7. Great long term hold

I was wrong. Sold yesterday for a small loss.

Bought more at $12.30. No brainer here.

In at $12.85

A buying opportunity is presenting itself here.

This 5yr DCF analysis implies Targa Resources $TRGP is 30% undervalued b4 earnings Wednesday:

DCF Model Audit

Upgraded to buy.

Targa Resources Corp. (TRGP) has had a phenomenal move from 15 all the way up 45, tripling, in four waves up, and the fifth wave may yet have more to go, but I would not be shocked to see 48-52. It was up 88 cents to 43.00, or 2%, on 2.3 million shares, on Thursday. Beware of Thursday’s low as a potential stopping point somewhere under the 40-40 1/2 level.

Targa Resources (TRGP) to Acquire Remaining Targa Resources Partners (NGLS) Shares


Targa Resources (NYSE: TRGP )and Targa Resources Partners LP (NYSE: NGLS) announced that TRC will acquire all of the outstanding common units of the Partnership not already owned by TRC in an all stock-for-unit transaction at a ratio of 0.62 TRC common shares per common unit of Targa Resources Partners. The implied TRP unit price represents an 18% premium to its volume-weighted average price during the 10 trading days ending November 2, 2015.

Following this transaction, TRC expects dividend growth of 15% for 2016 and greater than 10% compound annual dividend growth through 2018, assuming consensus analyst commodity prices and related capex and other assumptions as outlined in the investor presentation described below.

Following completion of the transaction, all of the outstanding common units of TRP will be owned by TRC and will no longer be publicly traded. The incentive distribution rights of TRP will be eliminated. All of TRP’s outstanding debt and Series A preferred units will remain outstanding. No additional financing is required for the transaction.

TRC has posted an updated investor presentation in the Events and Presentations section of its website at www.targaresources.com that includes an overview of the transaction, transaction rationale, and multi-year estimates for TRC dividends per share, dividend coverage and leverage for the base case using consensus analyst commodity prices. A sensitivity case using reduced commodity prices, lower capex and other related assumptions is also included with multi-year estimates for dividends per share and dividend coverage. Under the reduced commodity price scenario, TRC estimates dividend growth of 10% in 2016 and modest growth thereafter.

Management Commentary

“The combination of TRC and TRP will provide both immediate and long-term benefits to TRC and TRP investors. By improving our coverage and credit profile, simplifying our structure, lowering our cost of capital, and increasing our retained cash flow, we will be better positioned to continue to invest in high-return growth projects that will drive dividend growth beyond 2016,” said Joe Bob Perkins, Chief Executive Officer of the Company and of the general partner of the Partnership. “This transaction is attractive for Targa’s stakeholders, with better positioning in lower commodity price environments and enhanced growth in price recovery scenarios.”

Conditions to Closing

The Board of Directors of TRC (the “TRC Board”), the Conflicts Committee (the “Conflicts Committee”) of the Board of Directors of the general partner of TRP (the “TRP Board”) and the TRP Board have approved the merger agreement. Subject to customary approvals and conditions, including the expiration or termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, the transaction is expected to close in the first quarter of 2016. The transaction is subject to the approval of the common unitholders of TRP and shareholders of TRC.

Conference Call and Investor Presentation

Targa will discuss the transaction and TRP and TRC’s third quarter 2015 financial results on Tuesday, November 3, 2015 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). The conference call can be accessed via webcast through the Events and Presentations section of the Partnership’s website at www.targaresources.com, by going directly to http://ir.targaresources.com/events.cfm?company=LP or by dialing 877-881-2598. The pass code for the dial-in is 60174409. Please dial in ten minutes prior to the scheduled start time. A replay will be available approximately two hours following completion of the webcast through the Investor’s section of the Partnership’s website. An investor presentation regarding the transaction has been posted on the Events and Presentations section of the TRP and TRC websites.

Advisors

Evercore Partners acted as advisor to the TRC Board and Barclays acted as financing advisor to the TRC Board. Citigroup acted as financial advisor to the Conflicts Committee of TRP. Richards, Layton & Finger served as legal counsel to the Conflicts Committee of TRP and Vinson & Elkins LLP served as legal counsel to TRC.

Wow. A billion dollar company can double in a year or triple in two years I have learned.

Targa Resources

nysetv1 via YouTube
Ticker: TRGP
Price Target: $54
Location: Houston, TX
Specialty: Midstream services
Comments: "Organic growth through fractionation capacity expansions and new Permian Basin gathering/processing infrastructure provide high IRR projects with low execution risk."
Source: Morgan Stanley


Read more: http://www.businessinsider.com/morgan-stanleys-natural-gas-playbook-2012-7?op=1#ixzz21OZ709iH

~ Thurs-Fri $TRGP ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $TRGP ~ Earnings expected on Thursday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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*If the earnings date is in error please ignore error. I do my best.

Targa Resources Corp. (Targa), formerly Targa Resources Investments Inc., is a sole member of Targa Resources GP LLC, the managing general partner of Targa Resources Partners LP (the Partnership). As of December 31, 2010, its interests in the Partnership consist of a 2% general partner interest, which Targa held through its 100% ownership interest in the general partner of the Partnership; all Incentive Distribution Rights (IDRs), and a 15.4% limited partnership interest. In September 2010, it completed the conveyance of all of its remaining operating assets to Targa Resources Partners LP. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting and selling natural gas liquids (NGL), and NGL products. The Partnership operates in two divisions: Natural Gas Gathering and Processing, and NGL Logistics and Marketing.

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