Duyuru • Mar 27
Targa Resources Corp., Annual General Meeting, May 21, 2026 Targa Resources Corp., Annual General Meeting, May 21, 2026. Location: at 811 louisiana street, suite 2100, tx 77002, houston United States Reported Earnings • Feb 20
Full year 2025 earnings released: EPS: US$8.62 (vs US$5.77 in FY 2024) Full year 2025 results: EPS: US$8.62 (up from US$5.77 in FY 2024). Revenue: US$17.0b (up 3.9% from FY 2024). Net income: US$1.85b (up 46% from FY 2024). Profit margin: 11% (up from 7.7% in FY 2024). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Oil and Gas industry in South America. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 19
Targa Resources Corp. Provides Dividend Guidance for the First Quarter, Payable in May 2026 and Annual Common Dividend for the Fiscal Year 2026 Targa Resources Corp. announced that the company's Board of Directors an annual common dividend per share of $5.00 in 2026, a 25% increase to 2025 For the first quarter of 2026, the company intend to recommend to Board of Directors an increase to quarterly common dividend to $1.25 per common share or $5.00 per common share annualized. The recommended 25% increase in common dividend per share, if approved, would be effective for the first quarter of 2026 and payable in May 2026. Going forward, The company expects to be in position to continue to meaningfully increase the capital returned to shareholders through increasing common dividends per share and opportunistic repurchases of common stock. Declared Dividend • Jan 24
Third quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 1.7%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (134% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jan 24
Upcoming dividend of US$1.00 per share Eligible shareholders must have bought the stock before 30 January 2026. Payment date: 13 February 2026. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 2.1%. Lower than top quartile of Mexican dividend payers (5.8%). Lower than average of industry peers (15%). Declared Dividend • Jan 18
Third quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 1.8%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (134% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jan 07
Targa Resources Corp. (NYSE:TRGP) completed the acquisition of Stakeholder Midstream, LLC from EnCap Flatrock Midstream, L.P. Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire Stakeholder Midstream, LLC from EnCap Flatrock Midstream, L.P. for $1.3 billion on December 1, 2025. Targa Resources Corp. will acquire Stakeholder Midstream, LLC for $1.3 billion in cash. Targa expects to fund the acquisition using its strong liquidity position, including cash on hand and its existing $3.5 billion revolving credit facility.
Completion of the transaction is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the first quarter of 2026.
RBC Capital Markets, LLC acted as financial advisor for Targa Resources Corp. Ryan Maierson, James Garrett, Patrick Nevins, Joshua Marnitz, Jim Cole, Jason Cruise, Peter Todaro, David Della Rocca, Sandra Benjamin, Aaron Friberg, Robert Brown, Harrison White, James Robertson, Eric Leon and Benjamin Gelfand of Latham & Watkins LLP acted as legal advisor for Targa Resources Corp. Jefferies Financial Group Inc. acted as financial advisor for Stakeholder Midstream, LLC. Sarah McLean, Robert Jacobson, Britton Davis, Jonathan Konoff and Scott Thompson of Willkie Farr & Gallagher LLP and Clifford Chance US LLP acted as legal advisor for Stakeholder Midstream, LLC.
Targa Resources Corp. (NYSE:TRGP) completed the acquisition of Stakeholder Midstream, LLC from EnCap Flatrock Midstream, L.P. on January 6, 2026. The acquisition has an effective date of January 1, 2026. Duyuru • Dec 01
Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire Stakeholder Midstream, LLC for $1.3 billion. Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire Stakeholder Midstream, LLC for $1.3 billion on December 1, 2025. Targa expects to fund the acquisition using its strong liquidity position, including cash on hand and its existing $3.5 billion revolving credit facility.
Completion of the transaction is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the first quarter of 2026.
RBC Capital Markets, LLC acted as financial advisor for Targa Resources Corp. Latham & Watkins LLP acted as legal advisor for Targa Resources Corp. Jefferies Financial Group Inc. acted as financial advisor for Stakeholder Midstream, LLC. Willkie Farr & Gallagher LLP and Clifford Chance US LLP acted as legal advisor for Stakeholder Midstream, LLC. Declared Dividend • Oct 20
Second quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 31st October 2025 Payment date: 17th November 2025 Dividend yield will be 2.0%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (50% earnings payout ratio) but not covered by cash flows (201% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Aug 20
President of Logistics & Transportation recently sold Mex$62m worth of stock On the 15th of August, D. Pryor sold around 20k shares on-market at roughly Mex$3,091 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$845m more than they bought in the last 12 months. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: US$0.92 (vs US$1.23 in 1Q 2024) First quarter 2025 results: EPS: US$0.92 (down from US$1.23 in 1Q 2024). Revenue: US$4.56b (flat on 1Q 2024). Net income: US$200.0m (down 27% from 1Q 2024). Profit margin: 4.4% (down from 6.0% in 1Q 2024). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Oil and Gas industry in South America. Declared Dividend • Apr 21
Fourth quarter dividend of US$1.00 announced Shareholders will receive a dividend of US$1.00. Ex-date: 30th April 2025 Payment date: 15th May 2025 Dividend yield will be 1.3%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (52% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 11
Targa Resources Corp. to Report Q1, 2025 Results on May 01, 2025 Targa Resources Corp. announced that they will report Q1, 2025 results Pre-Market on May 01, 2025 New Risk • Apr 05
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 128% Dividend yield: 2.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks High level of debt (311% net debt to equity). Dividend is not well covered by cash flows (128% cash payout ratio). Significant insider selling over the past 3 months (Mex$501m sold). Duyuru • Mar 31
Targa Resources Corp., Annual General Meeting, May 20, 2025 Targa Resources Corp., Annual General Meeting, May 20, 2025. Location: 811 louisiana street, suite 2100, tx 77002, houston United States Recent Insider Transactions • Mar 07
President of Logistics & Transportation recently sold Mex$141m worth of stock On the 27th of February, D. Pryor sold around 35k shares on-market at roughly Mex$4,039 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$195m. Insiders have been net sellers, collectively disposing of Mex$923m more than they bought in the last 12 months. Duyuru • Feb 20
Targa Resources Corp. Provides Earnings Guidance for the Year 2025 Targa Resources Corp. provided earnings guidance for the year 2025. For the period, the company expects Net income attributable to Targa Resources Corp. of $1,765.0 millions. Declared Dividend • Jan 20
Third quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 1.0%, which is lower than the industry average of 6.4%. Payout Ratios Payout ratio: 49%. Cash payout ratio: 204%. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to Mex$3,970, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 6x in the Oil and Gas industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$2,467 per share. Recent Insider Transactions • Aug 15
President of Logistics & Transportation recently sold Mex$52m worth of stock On the 12th of August, D. Pryor sold around 20k shares on-market at roughly Mex$2,613 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$414m more than they bought in the last 12 months. Duyuru • Aug 01
Targa Resources Corp. (NYSE:TRGP) announces an Equity Buyback for $1,000 million worth of its shares. Targa Resources Corp. (NYSE:TRGP) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of its common stock. Declared Dividend • Jul 21
First quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 1.3%, which is lower than the industry average of 6.4%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (196% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Mex$2,399, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 5x in the Oil and Gas industry in South America. Total returns to shareholders of 184% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,929 per share. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: US$1.24 (vs US$0.028 in 1Q 2023) First quarter 2024 results: EPS: US$1.24 (up from US$0.028 in 1Q 2023). Revenue: US$4.56b (flat on 1Q 2023). Net income: US$275.2m (up US$268.9m from 1Q 2023). Profit margin: 6.0% (up from 0.1% in 1Q 2023). Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in South America are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 24
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of Mexican dividend payers (6.5%). Lower than average of industry peers (15%). Board Change • Apr 24
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. Independent Director Robert Teague was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Mar 22
Targa Resources Corp., Annual General Meeting, May 16, 2024 Targa Resources Corp., Annual General Meeting, May 16, 2024, at 08:00 Central Standard Time. Location: 811 Louisiana Street, Suite 2100 Houston Texas United States Agenda: To elect the three Class II Directors named in this proxy statement, each to serve until the 2027 annual meeting of stockholders; to ratify the selection of PricewaterhouseCoopers LLP as the Company’s independent auditors for 2024; to approve, on an advisory basis, the compensation of the Company’s named executive officers for the fiscal year ended December 31, 2023; and to transact such other business as may properly come before the Annual Meeting. Duyuru • Mar 15
Targa Resources Corp. Appoints Caron A. Lawhorn as Class III Director and Member of Audit Committee Targa Resources Corp. announced that on March 11, 2024, the Board appointed Ms. Caron A. Lawhorn to serve on the Board. Ms. Lawhorn was designated as a Class III Director, with a term expiring at the Company’s 2025 annual meeting of stockholders. Ms. Lawhorn was also appointed as a member of the Board’s Audit Committee, effective March 11, 2024. Duyuru • Feb 29
Targa Resources Corp. Announces Board Changes Robert B. Evans, age 75, a member of the Board of Directors of Targa Resources Corp. retired as a director of the Company, effective February 26, 2024. Mr. Evans has served as a director of the Company since March 1, 2016. There are no disagreements between Mr. Evans and the Company on any matter relating to the Company’s operations, policies or practices. Mr. Evans was a member of the Board’s Audit Committee and Compensation Committee. On February 26, 2024, the Board appointed Mr. Robert Keith Teague to serve on the Board to fill the vacancy resulting from the resignation of Mr. Evans. Mr. Teague was designated as a Class I Director, with a term expiring at the Company’s 2026 annual meeting of stockholders. Mr. Teague was also appointed as a member of the Board’s Audit Committee and Compensation Committee, effective February 27, 2024. Upcoming Dividend • Jul 21
Upcoming dividend of US$0.50 per share at 2.5% yield Eligible shareholders must have bought the stock before 28 July 2023. Payment date: 15 August 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Mexican dividend payers (6.6%). Lower than average of industry peers (30%). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 48% After last week's 48% share price gain to Mex$1,350, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 7x in the Oil and Gas industry in South America. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,590 per share. Recent Insider Transactions • Mar 03
Executive VP recently sold Mex$45m worth of stock On the 27th of February, Regina Gregory sold around 32k shares on-market at roughly Mex$1,386 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$205m more than they bought in the last 12 months. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: US$3.96 (vs US$0.07 loss in FY 2021) Full year 2022 results: EPS: US$3.96 (up from US$0.07 loss in FY 2021). Revenue: US$20.9b (up 24% from FY 2021). Net income: US$896.8m (up US$912.9m from FY 2021). Profit margin: 4.3% (up from net loss in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 2.6% decline forecast for the Oil and Gas industry in South America. Duyuru • Jan 10
Targa Resources Corp. (NYSE:TRGP) completed the acquisition of 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX). Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion on January 3, 2023. Under the terms of the transaction, Targa Resources will acquire Blackstone Energy Partners’ 25% in Targa’s Grand Prix NGL Pipeline for $1.05 billion in cash plus customary working capital adjustments. On January 3, 2023, Targa announced an offering, and a portion of the net proceeds from this offering will be used to fund the transaction. Post the closing of the transaction, Targa will own 100% of Grand Prix. The acquisition is subject to customary closing conditions and is expected to close in the first quarter of 2023 with an effective date of January 1, 2023. Truist Securities, Inc. is serving as Targa’s financial advisor. Benji Barron, Ryan Carney, Brian Russell and Darren Tucker of Vinson & Elkins LLP is acting as Targa’s legal counsel on the transaction.
Targa Resources Corp. (NYSE:TRGP) completed the acquisition of 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) on January 9, 2023. On January 9, 2023, Targa Resources Corp. completed the previously announced underwritten public offering (the “Offering”) of (i) $900,000,000 in aggregate principal amount of the Company’s 6.125% Senior Notes due 2033 (the “2033 Notes”) and (ii) $850,000,000 in aggregate principal amount of the Company’s 6.500% Senior Notes due 2053 (the “2053 Notes” and, together with the 2033 Notes, the “Notes”). The Company used a portion of the net proceeds from the Offering to fund the acquisition. Duyuru • Jan 05
Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion. Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion on January 3, 2023. Under the terms of the transaction, Targa Resources will acquire Blackstone Energy Partners’ 25% in Targa’s Grand Prix NGL Pipeline for $1.05 billion in cash plus customary working capital adjustments. On January 3, 2023, Targa announced an offering, and a portion of the net proceeds from this offering will be used to fund the transaction. Post the closing of the transaction, Targa will own 100% of Grand Prix. The acquisition is subject to customary closing conditions and is expected to close in the first quarter of 2023 with an effective date of January 1, 2023. Truist Securities, Inc. is serving as Targa’s financial advisor. Benji Barron, Ryan Carney, Brian Russell and Darren Tucker of Vinson & Elkins LLP is acting as Targa’s legal counsel on the transaction. Recent Insider Transactions • Nov 16
Senior VP & Chief Accounting Officer recently sold Mex$2.9m worth of stock On the 9th of November, Julie Boushka sold around 2k shares on-market at roughly Mex$1,387 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$400m more than they bought in the last 12 months. Recent Insider Transactions • Nov 12
Senior VP & Chief Accounting Officer recently sold Mex$2.9m worth of stock On the 9th of November, Julie Boushka sold around 2k shares on-market at roughly Mex$1,387 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$400m more than they bought in the last 12 months. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.85 (vs US$0.70 in 3Q 2021) Third quarter 2022 results: EPS: US$0.85 (up from US$0.70 in 3Q 2021). Revenue: US$5.36b (up 20% from 3Q 2021). Net income: US$193.1m (up 20% from 3Q 2021). Profit margin: 3.6% (in line with 3Q 2021). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.4% decline forecast for the Oil and Gas industry in South America. Upcoming Dividend • Oct 21
Upcoming dividend of US$0.35 per share Eligible shareholders must have bought the stock before 28 October 2022. Payment date: 15 November 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.1%. Lower than top quartile of Mexican dividend payers (6.6%). Lower than average of industry peers (28%). Recent Insider Transactions • Aug 12
Executive VP recently sold Mex$8.7m worth of stock On the 10th of August, Regina Gregory sold around 6k shares on-market at roughly Mex$1,346 per share. In the last 3 months, there was an even bigger sale from another insider worth Mex$29m. Insiders have been net sellers, collectively disposing of Mex$492m more than they bought in the last 12 months. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$1.63 (vs US$0.15 in 2Q 2021) Second quarter 2022 results: EPS: US$1.63 (up from US$0.15 in 2Q 2021). Revenue: US$6.06b (up 77% from 2Q 2021). Net income: US$372.7m (up US$338.3m from 2Q 2021). Profit margin: 6.2% (up from 1.0% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 32% growth forecast for the industry in Mexico. Upcoming Dividend • Jul 21
Upcoming dividend of US$0.35 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 15 August 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.2%. Lower than top quartile of Mexican dividend payers (6.0%). Lower than average of industry peers (23%). 
