targa resources is a company that works with things like natural gas and oil. they made more money this last quarter than people thought they would, so people are happy about that. they also bought back some of their own stock and are planning to build more things to help them make more money in the future. Read from source...

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### Reader Comments:
1. **Kris** (Posts: 1901) -- *08/08/2024 12:00:00 PM*
I think it's great that Targa is repurchasing shares and paying dividends to its shareholders. However, I do have concerns about the high product costs and the decline in earnings compared to the previous year. Hopefully, the company can maintain strong operational performance and continue to deliver value to its shareholders.
2. **John** (Posts: 201) -- *08/08/2024 1:00:00 PM*
I agree with Kris. The repurchases and dividends are a positive sign for shareholders. However, it's important for the company to address the high product costs and focus on cost optimization. It will be interesting to see how the company performs in the second half of the year, especially with the new projects and increased volumes.

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Source:
Zacks Investment Research

Fair Use Source:
Targa Resources, Inc. Quote

### MARTIN:
Targa Resources Corp. (TRGP) recently reported its second-quarter 2024 earnings, beating the Zacks Consensus Estimate of $1.21 per share with $1.33 reported. However, the bottom line underperformed from the year-ago quarter's $1.44, as a result of higher product costs. Targa' s revenues for the quarter totaled $3.6 billion, which marked a 4.6% YoY increase, driven by higher sales of commodities and fees from midstream services. TRGP' s adjusted EBITDA for Q2 2024 totaled $984.3 million, up from $789.1 million in the prior-year period.

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### MARTIN:
Targa Resources Corp. (TRGP) reported second-quarter 2024 earnings of $1.33 per share, which beat the Zacks Consensus Estimate of $1.21. The outperformance could be attributed to strong volumes across its systems in the reported quarter. However, the bottom line deteriorated from the year-ago quarter's level of $1.44 due to higher product costs. Revenues totaled $3.6 billion, up 4.6% year over year, primarily driven by higher sales of commodities and fees from midstream services year over year. TRGP's adjusted EBITDA for the second quarter totaled $984.3 million, up from $789.1 million in the prior- year period. Targa repurchased more than 2.9 million shares of its common stock in the second quarter, spending approximately $355 million at an average price of $118.91 per share. TRGP declared a quarterly cash dividend of 75 cents per common share or $3 on an annualized basis for the second quarter of 2024. The company also announced plans to build two new gas processing plants in the Permian Basin, each capable of processing 275 million cubic feet of gas per day.