Targa Resources Corp. Stock News

3 No-Brainer Energy Stocks to Buy With $1,000 Right Now

The most important element of corporate stock buybacks is the reduction in the share count.

TRGP's price performance over the last several months has been incredibly strong, pushing it out past my price target for 2026. The new growth projects announced by the company will likely cause the company to increase debt levels in 2025, although still at manageable levels. Targa Resources will become a full taxpayer by 2027, negativity will impact FCF.

HOUSTON, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that representatives from the Company will participate in investor meetings at the BofA Securities Global Energy Conference in Houston, TX on Wednesday, November 13, 2024.

Target Resources cut its dividend in 2020 to repay debt faster, reflecting its aggressive growth strategy. Midstream earnings are protected by "take-or-pay" contracts, but growth often slows during cyclical downturns (of customer upstream companies). The cyclical nature of the upstream business means growth will eventually slow, affecting stock performance.

The energy sector, particularly midstream companies, is set to benefit from Trump's pro-oil and gas policies, boosting fossil fuel investments. Midstream companies like Energy Transfer are experiencing significant growth due to rising natural gas demand from power plants and data centers. Investing in CEFs holding midstream assets offers high yields, leverage benefits, and avoids K-1 tax issues...

The S&P 500 has had an extraordinary year so far, with the S&P 500 ETF NYSE: SPY boasting a 25.31% return year-to-date, well above the market's average pace. Driving this surge are shifting monetary policies, the Federal Reserve's consecutive rate cuts, rapid advancements in AI and technology, and this week's almost 5% rally following Donald Trump's presidential election victory.

Targa Resources Corp (NYSE:TRGP ) Q3 2024 Results Conference Call November 5, 2024 11:00 AM ET Company Participants Tristan Richardson - IR Matt Meloy - CEO & Director Jen Kneale - President of Finance & Administration Will Byers - Executive Vice President & CFO Scott Pryor - President of Logistics & Transportation Patrick McDonie - President of Gathering & Processing Robert Muraro - Chief Comm...