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Targa Resources Corp. (TRGP)

NYSE - NYSE Delayed price. Currency in USD
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25.20+0.44 (+1.78%)
At close: 4:00PM EST

25.20 0.00 (0.00%)
After hours: 4:15PM EST

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  • G
    Gamer
    $30 by end of this year?
  • A
    Anthony
    A new slide detailing the economics of the buyout of Stonepeake. 5-6x Ebitda on strategy assets. Would rather see excess cash flow going for this than for repurchase of common stock.
  • G
    Greg
    Will TRGP eventually buy out Sanchez Midstream Partners? SNMP fighting Bankruptcy.
  • J
    Joseph
    Is this early morning bounce a late reaction to the earnings call or a reaction to the election results?
  • A
    Anthony
    Ethane extraction should translate into a big beat on earnings and Ebitda.
  • T
    Tim
    Will hit $20 by Friday
  • F
    Frank
    Good solid open. Stable on moderate volume.
  • M
    Markus
    So what means the Acquisition of Parsley Energy by Pioneer Natural Resources mean for Targa?
  • F
    Frank
    Biden win will sink this company.
  • F
    Frank
    Another stable, range bound month.
  • G
    Gamer
    Consensus estimate for profits this quarter are 3 cents/share. If we add the "accounting depreciation" we get a very nice real profit (what accountants call cash flow from operations). But due to the reduction in interest expenses (after the recent refinancing), next quarter's profits are consensus at 12 cents/share. After adding back the depreciation accounting deduction, the profits cover many many times the new reduced dividend, and could even support something close to the old dividend.
  • Y
    Yahoo Finance Insights
    Targa Resources is up 9.78% to 16.50
  • G
    Gamer
    TRGP management did a plan outlining the profitability even if 20% (!!) of oil drillers who supply us with natural gas shut down. That's the $1.4 Billion EBITA on the low end of the 1.4 to 1.6 Billion.
    However, based on spot crude around $40, not only will the drillers not shut down, but if this price holds a bit longer, I'm sure new wells will be added in the Permian as they are making money hand over fist right now. We charge them by the volume for the NG flow. Also, as I predicted, propane exports rose (almost 30% in dollar terms). Here we charge by the commodity, as we outright buy the NG and sell the NGLs that we own. And I'm confident exports of NGLs will go through the roof. Currently propane is a big export, but in the future, butane and methane, will be exported to European and Asian customers who are paying SEVERAL TIMES Mont Belvieu prices, which is what we're getting now.
  • G
    Gamer
    Two great reports from TRGP:

    1.TRGP bought $300 Million face value of their own bonds back at 20% discount, thus making an instant $60 Million profit, plus annual interest savings of $12 Million in perpetuity.

    2. Leverage ratio is now reduced to a very respectable 4.1

    Nice !!
  • j
    j
    TRGP has much valuable assets in many parts of the country. Other companies may be interested in their infrastructures which cost a lot to build new ones for other companies. TRGP has many other projects coming to fruition. The stock price is quite undervalued in my humble opinion. i am not surprised that Raymond James upgraded TRGP to strong buy at target price of 48 today and the stock price is going up.
  • b
    bruce
    Good to see that TRGP has been buying its debt back at discounts of 20-25%. While we all like getting dividend payments, we are really better off as shareholders with the discounted debt purchases, particularly given that a significant portion of the dividend is now taxable. So in effect, instead of ending up with $0.70 or $0.75, depending on tax rates, for each dollar of dividend, we have an additional $1.25 (20% debt discount) or $1.33 (25% debt discount) of equity in the business.
  • J
    Joe
    board's thoughts on targa guidance based on $52 oil and now oil below 30
    will they have to stop div and how much of a loss until oil get back to at least upper 40's?
  • B
    Brad
    Very nice 2nd quarter!!
  • C
    CK
    Do investors understand that this is a natural gas play and that natural gas is up about 50% in the last couple of weeks?