Targa Resources Q4 earnings below estimates, but revenues rise with new projects

From Zacks Investment Research: 2025-02-27 07:32:13

Targa Resources Corp. (TRGP) reported Q4 2024 adjusted earnings of $1.44 per share, missing estimates as Permian Basin volumes fell short. Revenues increased to $4.4 billion, beating estimates, with adjusted EBITDA totaling $1.1 billion. TRGP declared a quarterly dividend of 75 cents per share and repurchased shares worth $108 million. The company reported record Permian and NGL volumes, completed new plants, and announced new projects. For 2025, TRGP projects adjusted EBITDA between $4.65 billion and $4.85 billion and plans to increase its quarterly dividend. TRGP holds a Zacks Rank #2. MPLX LP and Cheniere Energy also reported their earnings, beating estimates. TC Energy reported adjusted earnings of 75 cents per share, surpassing estimates.



Read more at Zacks Investment Research: Targa Resources Q4 Earnings Miss Estimates, Revenues Increase Y/Y – February 27, 2025