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Targa Resources Corp TRGP Stock Quote

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Morningstar‘s Stock Analysis TRGP

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Targa Ups 2022 Guidance Again Due to Lucid Deal

Stephen Ellis Sector Strategist

Business Strategy and Outlook

| Stephen Ellis |

Targa Resources is primarily a gatherer and processor, or G&P, of natural gas with an attractive position in the Permian Basin and other key U.S. shale plays. The firm weathered a very difficult 2020 via sharply reduced capital spending, a nearly 90% dividend reduction, and expense cuts. With a more stable 2021, it reduced debt by $1 billion that year, which we think was a good move. With leverage now at reasonable levels, we think returning the dividend to $1.40 a share from $0.40 per share annually makes sense.

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Key Statistics TRGP

Company Profile TRGP

Business Description

Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has 840,000 barrels a day of gross fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline recently entered full service.

811 Louisiana Street, Suite 2100
Houston, TX, 77002
T +1 713 584-1000
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 2,430

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