TRGP
Targa Resources Corp.176.41
-5.90-3.24%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A boosts 2027+ growth confidence
Q&A amplified Targa's Permian momentum, revealing upward revisions in multiple producers' bottoms-up forecasts—especially Delaware—fueling stronger confidence in 2027+ growth versus prior views. Management unpacked the elevated $2.5B post-Speedway capex as three plants yearly (up from two), plus field compression and longer lead times to match commercial wins. Waha volatility promises unbooked marketing upside through 2026, while new pipes fill gradually. Commercial durability rests on dedicated acreage; no need for more wins to fill plants. Growth outpaces peers. Investors eye Delaware volume ramps and marketing capture.
Key Stats
Market Cap
37.96BP/E (TTM)
23.74Basic EPS (TTM)
7.43Dividend Yield
0.02%Recent Filings
8-K
Targa closes $1.5B notes
Targa Resources closed a $1.5 billion public notes offering on March 2, 2026: $750 million 4.350% senior notes due 2031 and $750 million 6.050% senior notes due 2056, guaranteed by subsidiaries. Proceeds target repaying commercial paper, debt, or funding capex and investments. Flexible capital bolsters liquidity.
8-K
Prices $1.5B notes offering
Targa Resources priced a $1.5 billion senior notes offering on February 25, 2026—$750 million 4.350% due 2031 and $750 million 6.050% due 2056—expected to close March 2. Notes are guaranteed by subsidiaries and redeemable at the company's option. Proceeds target repaying commercial paper, debt, or funding capex. Underwriters overlap with lenders.
10-K
FY2025 results
No financial statements, quarterly breakdowns, or results disclosed in the 10-K filing. Aggregate market value of non-affiliate common stock stood at $37,012.7 million on June 30, 2025. Shares outstanding totaled 214,951,798 as of February 13, 2026. Q4 metrics not provided. Liquidity and capital allocation trends omitted. No annual guidance disclosed. Commodity price volatility poses a key risk to operations.
8-K
Record 2025 EBITDA, 2026 outlook
Targa Resources crushed 2025 with record adjusted EBITDA of $4.96B, up 20% from 2024, fueled by Permian volume surges and Bull Moose II plant startup. They closed Stakeholder acquisition for $1.25B cash in January 2026 while announcing Yeti II plant and Train 13 fractionator. Guides 2026 adjusted EBITDA to $5.4B-$5.6B; plans 25% dividend hike. Debt hit $17.4B.
8-K
Targa closes $1.75B notes
Targa Resources Corp. completed a $1.75 billion senior notes offering on November 12, 2025—$750 million 4.350% due 2029 and $1 billion 5.400% due 2036—guaranteed by subsidiaries. It will redeem higher-rate 6.875% notes due 2029 and deploy rest to repay debt, cut commercial paper, or fund capex. Lower coupons trim interest costs. No use-of-proceeds quantification disclosed.
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