Highest-materiality recent filing
Targa Resources appoints Thomas Mathiasmeier to Board of Directors
Thomas Mathiasmeier, former President of Global Gas, Power & Emerging Markets at ConocoPhillips, appointed as Class II director.
Targa extends receivables facility to July 2027, adds $200M uncommitted line
Facility termination date extended to July 30, 2027 via Seventeenth Amendment.
Targa Resources shareholders elect all four Class I directors, ratify auditor, approve say-on-pay
Paul W. Chung, Charles R. Crisp, Laura C. Fulton, and R. Keith Teague elected as Class I directors for three-year terms.
Targa reports record Q1 adjusted EBITDA of $1.4B, raises FY2026 guidance to $5.7-5.9B
Q1 net income $480M vs $271M YoY; adjusted EBITDA $1,403M (+19% YoY).
Targa Resources issues $1.5B in senior notes (4.350% 2031, 6.050% 2056)
Issued $750M 4.350% senior notes due 2031 and $750M 6.050% senior notes due 2056.
Targa Resources prices $1.5B senior notes offering in two tranches
Issued $750M 4.350% Senior Notes due 2031 and $750M 6.050% Senior Notes due 2056.
Targa posts record 2025 adjusted EBITDA of $4.96B, raises dividend 25% for 2026
Record Q4 adjusted EBITDA $1.34B vs $1.12B prior year; full year $4.96B (+20% YoY).
Targa closes $1.75B debt offering; $750M 4.350% notes due 2029, $1B 5.400% notes due 2036
Issued $750M of 4.350% Senior Notes due 2029 and $1.0B of 5.400% Senior Notes due 2036.
Targa Resources prices $1.75B senior notes offering; proceeds to redeem existing 6.875% notes
$750M of 4.350% Senior Notes due 2029 priced at 99.938% of face value.
Targa Q3 adjusted EBITDA record $1.27B, up 19% YoY; plans 25% dividend increase for 2026
Q3 net income $478.4M vs $387.4M YoY; adjusted EBITDA $1,274.8M record (+19% YoY, +10% sequential).
Targa Q2 adj. EBITDA $1.16B (+18% YoY); new $1B buyback authorized
Q2 net income $629.1M (vs $298.5M); adj. EBITDA $1,163M, +18% YoY.
Targa Resources President of Logistics & Transportation to retire; successor appointed
D. Scott Pryor to retire as President – Logistics and Transportation effective March 1, 2026; not due to any disagreement.
Targa extends receivables securitization facility to August 31, 2026
Sixteenth Amendment extends facility termination date to August 31, 2026.
Targa Resources completes $1.5B notes offering; proceeds to redeem 6.5% 2027 notes
Issued $750M aggregate principal of 4.900% Senior Notes due 2030 and $750M of 5.650% Senior Notes due 2036.
Targa Resources prices $1.5B senior notes offering; 4.900% due 2030 and 5.650% due 2036
$750M of 4.900% Senior Notes due 2030 priced at 99.870% and $750M of 5.650% Senior Notes due 2036 priced at 99.700%.
Targa Resources shareholders elect all four Class III directors at 2025 annual meeting
Ratified PricewaterhouseCoopers as independent auditor with 192.6M votes for, 5.1M against.
Targa posts record Q1 adjusted EBITDA of $1.18B, up 22% YoY; dividend increased 33%
Record Q1 adjusted EBITDA $1,178.5M vs $966.2M YoY (+22%); net income $270.5M vs $275.2M.
Targa Resources completes $2B senior notes offering; proceeds for Badlands JV buyout
Issued $1.0B of 5.550% Senior Notes due 2035 and $1.0B of 6.125% Senior Notes due 2055.
Targa Resources prices $2.0B senior notes offering to fund Badlands buyout and general purposes
$1.0B 5.550% Senior Notes due 2035 priced at 99.610% of face value.
Q4 adjusted EBITDA $1,122M vs $960M YoY (+17%); net income $351M vs $299.6M.
Targa Resources names Jennifer R. Kneale President effective March 1, 2025
Jennifer R. Kneale appointed President of Targa Resources Corp., effective March 1, 2025.
Net income $387.4M vs $220M YoY; adjusted EBITDA $1,069.7M record.
Targa extends AR securitization facility termination date to Aug 2025
Fifteenth Amendment to Receivables Purchase Agreement signed Aug 26, 2024.
Targa Resources closes $1.0B offering of 5.500% Senior Notes due 2035
Issued $1.0 billion aggregate principal of 5.500% Senior Notes due 2035 on August 9, 2024.
Targa Resources prices $1.0B of 5.500% Senior Notes due 2035
Offering of $1.0B aggregate principal of 5.500% Senior Notes due February 15, 2035.
Record Q2 adjusted EBITDA $984.3M (up 25% YoY); net income $298.5M vs $329.3M.
Targa Resources appoints new CFO; current CFO moves to President-Finance & Admin
Jennifer R. Kneale becomes President – Finance and Administration effective July 22, 2024; salary raised to $680,000.
Targa Resources CAO Julie Boushka to retire Mar 1, 2025; J. Christopher Eklof appointed successor
Julie Boushka steps down as SVP & CAO effective March 1, 2025; retirement not due to disagreement.
Targa Resources Announces 2024 Annual Meeting Stockholder Voting Results
Three Class II directors elected: Beth A. Bowman (177.5M for), Lindsey M. Cooksen (158.3M for), Joe Bob Perkins (163.7M for).
Targa Q1 adjusted EBITDA record $966.2M; dividend raised 50%; guides FY $3.7-3.9B
Net income $275.2M vs $497.0M YoY; record adj. EBITDA $966.2M (up 2.7% YoY).
Targa appoints Caron A. Lawhorn to board of directors
Ms. Lawhorn appointed as Class III director, term expiring at 2025 annual meeting.
Targa Resources director Robert B. Evans retires; Robert Keith Teague appointed to board
Robert B. Evans, 75, retired as director effective Feb 26, 2024; served since March 2016.
Targa Reports Record 2023 Adj. EBITDA $3.53B; Guides 2024 $3.7-3.9B, Dividend to $3.00
Net income Q4 $299.6M (vs $318M); full year net income record $1,345.9M (vs $1,195.5M).
Targa Resources adopts amended bylaws with proxy access and Rule 14a-19 updates
Proxy access allows stockholders owning ≥3% of shares for ≥3 years to nominate up to 20% of directors.
Targa Resources prices $2B senior notes offering at 6.150% and 6.500%
$1B of 6.150% Senior Notes due 2029 and $1B of 6.500% Senior Notes due 2034 issued.
Targa Resources prices $2.0B senior notes offering (6.150% 2029, 6.500% 2034)
Issued $1.0B of 6.150% Senior Notes due 2029 and $1.0B of 6.500% Senior Notes due 2034.
Targa Q3 adjusted EBITDA $840M; plans 50% dividend increase to $3.00 for 2024
Q3 net income $220M vs $193M YoY; adjusted EBITDA $840.2M (+6% sequentially).
Targa Resources reduces accounts receivable facility to $600M, extends to Aug 2024
Facility size decreased from $800M to $600M via Fourteenth Amendment.
Targa Q2 2023 adj EBITDA $789.1M up 18% YoY; net income $329.3M; repurchased $149M in shares
Adjusted EBITDA $789.1M vs $666.4M YoY (+18%); net income $329.3M vs $596.4M YoY (includes $435.9M gain in 2022).
Shareholders elected Paul W. Chung, Charles R. Crisp, and Laura C. Fulton as Class I directors; each received >148M for votes.
Targa Q1 adj EBITDA $941M (up 50% YoY); $1.0B buyback authorized
Net income $497M vs $88M YoY; adj EBITDA $940.6M vs $625.8M.
Targa files Lucid historical and pro forma financials for $3.5B acquisition
Unaudited Lucid financials for six months ended June 30, 2022: net income $121.7M, revenue $298.3M.
Targa Resources officers adopt 10b5-1 trading plans
Robert M. Muraro, Chief Commercial Officer, entered a 10b5-1 plan in February 2023.
Q4 2022 net income $318.0M (vs $(313.6)M in Q4 2021); adjusted EBITDA $840.4M (record, +47% YoY).
Targa closes $1.05B buyout of Blackstone's 25% Grand Prix stake, issues $1.75B notes
Acquired Blackstone Energy Partners' 25% interest in Grand Prix NGL Pipeline for $1.05B cash.
Targa Resources prices $1.75B senior notes; proceeds to fund $1.05B Grand Prix buyout
Issued $900M of 6.125% senior notes due 2033 and $850M of 6.500% notes due 2053.
Q3 net income $193.1M vs $182.2M YoY; record adjusted EBITDA $768.6M, +52% YoY, +15% sequentially.
Targa files audited financials of acquired Lucid; Lucid had $525M revenue, $74M net income in 2021
Net income of $74.2M on $524.8M revenue for year ended Dec 31, 2021; operating income $161.5M.
Targa upsizes receivables facility to $800M, extends maturity to Sept 2023
Facility size doubled from $400M to $800M via Thirteenth Amendment to Receivables Purchase Agreement.
Targa Q2 net income $596.4M, adj EBITDA $666.4M; raises 2022 outlook to $2.85-2.95B
Net income $596.4M (incl $435.9M gain on sale of GCX Pipeline) vs $56.2M in Q2 2021.
Targa Resources Corp. (the “Company”) announced today that Jennifer R. Kneale was appointed President, effective March 1, 2025.
the Board also appointed William A. Byers to serve as the Company’s Chief Financial Officer, effective as of July 22, 2024.
On May 15, 2024, Julie H. Boushka gave notice to Targa Resources Corp. (the “Company”) of her intent to retire from her position as Senior Vice President and Chief Accounting Officer of the Company, effective March 1, 2025.
On May 16, 2024, the Board of Directors of the Company appointed J. Christopher Eklof, age 55, as Senior Vice President and Chief Accounting Officer of the Company, effective March 1, 2025.
On March 11, 2024, the Board appointed Ms. Caron A. Lawhorn to serve on the Board.
Robert B. Evans, age 75, a member of the Board of Directors (the “Board”) of Targa Resources Corp. (the “Company”) retired as a director of the Company, effective February 26, 2024.
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.
James W. Whalen, age 80, a member of the Board of Directors (the “Board”) of Targa Resources Corp. (the “Company”) retired as a director of the Company, effective December 10, 2021.
Max materiality 0.90 · Median 0.60 · Most common event debt