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Targa Resources Corp. (TRGP)
:TRGP
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.92Last Year’s EPS
1.24Same Quarter Last Year
Strong Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2018
|% Change Since: 27.49%
|Next Earnings Date:Aug 09, 2018
Earnings Call Sentiment|Positive
The earnings call highlighted Targa Resources' strong financial performance with record volumes and adjusted EBITDA. The company has a robust growth outlook, supported by strategic investments and a strong balance sheet. While there were some operational challenges impacting LPG exports, the overall sentiment is positive due to significant growth in the Permian and increased shareholder returns.Company Guidance
During the Targa Resources Corp. Q3 2024 earnings call, the company provided robust guidance, highlighting record volumes and adjusted EBITDA, with expectations to surpass the high end of their previously provided adjusted EBITDA range, projecting over $500 million year-over-year growth. Targa announced the acceleration of new Permian plants due to increased anticipated growth, with plans for new facilities such as the East Driver and Falcon 2, which are expected to begin operations in 2026. The company reported record natural gas inlet volumes in the Permian, averaging 6 billion cubic feet per day, and record NGL transportation and fractionation volumes of 829,000 and 954,000 barrels per day, respectively. Additionally, Targa increased its share repurchase activity, buying back nearly $650 million worth of shares year-to-date, and signaled a 33% increase in the 2025 annual common dividend to $4 per share, reflecting their strong financial position and commitment to returning capital to shareholders.Record Volumes and Adjusted EBITDA
Targa Resources reported record volumes and record adjusted EBITDA of $1.07 billion, a 9% increase over the second quarter, driven by strong performance in the Permian Basin.
Significant Volume Growth in the Permian
The Permian natural gas inlet volumes averaged a record 6 billion cubic feet per day during the third quarter, a 5% increase from the second quarter and 18% year-over-year growth.
Strong Balance Sheet and Investment-Grade Credit Ratings
Targa has significantly strengthened its balance sheet, achieving mid BBB ratings across all three credit agencies with a stable outlook.
Increased Return of Capital to Shareholders
Targa repurchased nearly $650 million of common shares year-to-date and plans to recommend a 33% increase in the 2025 annual common dividend to $4 per share.
Expansion Plans in the Permian
Targa announced plans to move forward with two new Permian plants, East Driver and Falcon 2, to accommodate anticipated growth.
Robust NGL Transportation and Fractionation Volumes
NGL pipeline transportation volumes averaged a record 829,000 barrels per day, with fractionation volumes also setting a record at 954,000 barrels per day.
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TRGP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TRGP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $169.20 | $177.40 | +4.85% |
| Aug 01, 2024 | $134.67 | $135.49 | +0.61% |
| May 02, 2024 | $111.28 | $111.85 | +0.51% |
| Feb 15, 2024 | $86.89 | $91.74 | +5.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Targa Resources Corp. (TRGP) report earnings?
Targa Resources Corp. (TRGP) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Targa Resources Corp. (TRGP) earnings time?
Targa Resources Corp. (TRGP) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TRGP EPS forecast?
TRGP EPS forecast for the fiscal quarter 2024 (Q4) is 1.92.
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