Targa Resources Corp. declares a $0.75 quarterly dividend, plans $1.00 for Q1 2025, and will report Q4 results on February 20.
Quiver AI Summary
Targa Resources Corp. has declared a quarterly cash dividend of $0.75 per common share for the fourth quarter of 2024, equating to an annualized rate of $3.00. This dividend will be paid on February 14, 2025, to shareholders on record as of January 31, 2025. Additionally, Targa plans to recommend an increase of the common dividend to $1.00 per share for the first quarter of 2025, pending board approval, which would be effective in May 2025. The company will release its fourth quarter financial results on February 20, 2025, and will hold a webcast to discuss these results at 11:00 a.m. ET. Targa is a major provider of midstream services in North America, focused on the infrastructure for natural gas and natural gas liquids.
Potential Positives
- Targa Resources Corp. declared a quarterly cash dividend of $0.75 per common share for the fourth quarter of 2024, indicating financial stability and a commitment to returning value to shareholders.
- The company intends to recommend an increase in the common dividend to $1.00 per share for the first quarter of 2025, suggesting positive growth expectations and confidence in future financial performance.
- Targa Resources is identified as one of the largest independent midstream infrastructure companies in North America, highlighting its significant market position and operational scale in the energy sector.
Potential Negatives
- Announcement of a cash dividend increase could indicate previous financial challenges, suggesting a cautious approach to shareholder returns.
- Forward-looking statements acknowledge various uncertainties and risks that could significantly impact the company's future financial performance.
- The specific timing and success of future business development efforts remain uncertain, highlighting potential vulnerabilities in growth strategies.
FAQ
What is Targa Resources Corp.'s quarterly dividend for Q4 2024?
Targa Resources Corp. has declared a quarterly cash dividend of $0.75 per common share for Q4 2024.
When will the dividend be paid to shareholders?
The cash dividend will be paid on February 14, 2025, to holders of record by January 31, 2025.
Will Targa Resources increase its dividend in 2025?
Targa intends to recommend an increase to $1.00 per common share for the first quarter of 2025.
When will Targa report its Q4 2024 financial results?
Targa will report its Q4 2024 financial results on February 20, 2025, before the market opens.
How can investors access Targa's earnings webcast?
Investors can access the webcast for Targa's earnings presentation on their investor relations website.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TRGP Insider Trading Activity
$TRGP insiders have traded $TRGP stock on the open market 27 times in the past 6 months. Of those trades, 0 have been purchases and 27 have been sales.
Here’s a breakdown of recent trading of $TRGP stock by insiders over the last 6 months:
- JOE BOB PERKINS has made 0 purchases and 3 sales selling 189,000 shares for an estimated $28,757,649.
- D. SCOTT PRYOR (See Remarks) has made 0 purchases and 2 sales selling 50,000 shares for an estimated $8,462,942.
- JULIE H. BOUSHKA (Senior VP and CAO) has made 0 purchases and 8 sales selling 28,327 shares for an estimated $4,553,895.
- PAUL W CHUNG has made 0 purchases and 4 sales selling 24,717 shares for an estimated $4,347,378.
- ROBERT MURARO (Chief Commercial Officer) has made 0 purchases and 6 sales selling 15,000 shares for an estimated $2,271,662.
- CHARLES R CRISP has made 0 purchases and 2 sales selling 11,000 shares for an estimated $1,832,214.
- WATERS S IV DAVIS sold 3,597 shares for an estimated $512,308
- GERALD R SHRADER (See Remarks) sold 3,000 shares for an estimated $408,195
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TRGP Hedge Fund Activity
We have seen 434 institutional investors add shares of $TRGP stock to their portfolio, and 321 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKSTONE INC. removed 1,681,345 shares (-21.9%) from their portfolio in Q3 2024, for an estimated $248,855,873
- TORTOISE CAPITAL ADVISORS, L.L.C. removed 1,541,351 shares (-24.6%) from their portfolio in Q3 2024, for an estimated $228,135,361
- DEUTSCHE BANK AG\ removed 1,377,150 shares (-34.1%) from their portfolio in Q3 2024, for an estimated $203,831,971
- NUVEEN ASSET MANAGEMENT, LLC added 832,515 shares (+108.2%) to their portfolio in Q3 2024, for an estimated $123,220,545
- WELLINGTON MANAGEMENT GROUP LLP added 633,589 shares (+4.4%) to their portfolio in Q3 2024, for an estimated $93,777,507
- ALLIANZ ASSET MANAGEMENT GMBH added 572,958 shares (+905.6%) to their portfolio in Q3 2024, for an estimated $84,803,513
- KAYNE ANDERSON CAPITAL ADVISORS LP removed 558,611 shares (-22.5%) from their portfolio in Q3 2024, for an estimated $82,680,014
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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 close of business on January 31, 2025.
For the first quarter of 2025, Targa intends to recommend to its Board of Directors an increase to its common dividend to $1.00 per common share or $4.00 per common share annualized. The recommended common dividend per share increase, if approved, would be effective for the first quarter of 2025 and payable in May 2025.
The Company will report its fourth quarter 2024 financial results before the market opens for trading on Thursday, February 20, 2025, and will host a live webcast over the internet at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its 2024 fourth quarter financial results.
Event Information
Event: Targa Resources Corp. Fourth Quarter 2024 Earnings Webcast and Presentation
Date: Thursday, February 20, 2025
Time: 11:00 a.m. Eastern Time
Webcast:
https://www.targaresources.com/investors/events
or directly at
https://edge.media-server.com/mmc/p/qgzvcwi7
Replay Information
A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A quarterly earnings supplement presentation and updated investor presentation will also be available at
https://www.targaresources.com/investors/events
.
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.
Targa is a FORTUNE 500 company and is included in the S&P 500.
For more information, please visit the Company’s website at
www.targaresources.com
.
Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance and capital spending. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics or any other public health crises, commodity price volatility due to ongoing or new global conflicts, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, the timing and success of business development efforts and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Targa Investor Relations
InvestorRelations@targaresources.com
(713) 584-1133
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