Targa Resources Corp.

Targa Resources Corp.

Targa Resources Corp.

Overview
Date Founded

2005

Headquarters

1000 Louisiana Street,Suite 4300,Houston, TX 77002-5005

Type of Company

Public

Employees (Worldwide)

2,372

Industries

Oil & Gas

Company Description

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment includes all the activities necessary to convert mixed NGLs into NGL products and provides certain value added services such as storing, fractionating, terminaling, transporting and marketing of NGLs and NGL products, including services to LPG exporters; storing and terminaling of refined petroleum products and crude oil and certain natural gas supply and marketing activities in support of its other businesses. The company was founded on October 27, 2005 and is headquartered in Houston, TX.

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Executives & Employees

President, Chief Executive Officer & Director

President & Chief Operating Officer

Chief Financial Officer

Executive Vice President, General Counsel & Secretary of the Company & the General Partner

Chief Commercial Officer

Chief Accounting Officer

President, Logistics & Marketing of the Company & General Partner

Executive Vice President, Engineering & Operations of the Company & General Partner

President, Gathering & Processing of the Company & General Partner

Head, Information Technology

Board of Directors

Director & General Counsel at Targa Badlands LLC

Vice President, Finance at American Bureau of Shipping, Inc.

Independent Director of Targa Resources GP LLC at Targa Resources Partners LP

President, Chief Executive Officer & Director at Targa Resources Corp.

Former Senior Vice President-Sales & Origination at Shell Energy North America (US) LP

Former President & Chief Executive Officer at Duke Energy Gas Transmission Co.

Former Chief Executive Officer at Targa Resources Corp.

Former Senior Vice President-Finance at Acadian Gas Corp.

Executive Chairman at Tri Resources, Inc.

Executive Advisor at CCMP Capital Advisors LLC

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Targa Resources Corp.
Owners & Shareholders
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Harvest Fund Advisors’ principal investment area is energy and energy infrastructure assets with a particular focus on US master limited partnerships (MLPs). The firm employs fundamental, value-oriented, bottom-up research, analysis, and industry knowledge to generate alpha returns. The funds may be organized in the US or in a foreign jurisdiction as limited liability companies, limited partnerships, trusts, or offshore corporations, partnerships, trusts, or any other legal entity. For some of their clients or funds, Harvest Fund Advisors may purchase or sell derivatives instruments or swaps.

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Tortoise Capital Advisors' primary investment strategy is fundamentals based, long-only, with an emphasis on managing risk which they define as the potential for a permanent loss of capital. However, the firm’s investment strategies may include short-term purchases and trading where appropriate, as indicated by their fundamental and technical analysis. Tortoise Capital Advisors evaluates companies operating in both the energy and global water value chains to gain a better understanding of the impact on their respective investments. They have primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. Tortoise Capital Advisors have secondary coverage on all other MLPs, as well as a majority of the energy value chain in their investment universe.

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Chickasaw Capital Management (CCM) may offer advice on the following as well as the foreign equivalents of the following investment products: equity securities; MLPs; corporate debt securities; municipal securities; US government and US agency securities; commercial paper; CDs; convertible securities, mutual funds; preferred securities; option contracts on securities; warrants; interests in partnerships investing in real estate, oil and gas and others; currencies; derivatives; private placements; and limited partnership interests. The firm uses a variety of investment strategies, including MLP, equity and core investment strategies. To implement their strategies, CCM may make long-term purchases, short-term purchases, or engage in short sales, short-term trading and margin transactions. The firm's investment philosophy is founded on building a portfolio that has the opportunity for solid total returns from the ownership of public companies with growing earnings, the revaluation of a company's earnings to higher multiple, or from both earnings growth and multiple expansion. CCM seeks long-term appreciation by investing in high-quality companies with superior management in a variety of situations, including small, medium and large public companies.

Recent Transactions
Details Hidden

Stonepeak Infrastructure Partners, Oryx Midstream Services LLC purchase Targa Resources Corp. /Permian Delaware Crude Business from Targa Resources Corp.

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Kirby Corp. purchases Targa Resources Corp. /Inland Marine Tank Barge Business from Targa Resources Corp.

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Targa Resources Corp. issued USD Common Stock

Insider Transactions
Details Hidden
Transaction Advisors
Investment Advisor

Advised onTarga Resources Corp. purchases Targa Resources Partners LP

Investment Advisor

Advised onTarga Resources Corp. purchases Atlas Energy LP

Auditor

Advised onTarga Resources Corp. issued USD Common Stock

Legal Advisor

Advised onTarga Resources Corp. purchases Targa Resources Partners LP

Co-Head, M&A Practice Group

Advised onTarga Resources Corp. issued USD Common Stock

Legal Advisor

Advised onTarga Resources Corp. purchases Targa Resources Partners LP

Advisors & Consultants
Legal Advisor

Co-Head, M&A Practice Group at Vinson & Elkins LLP

Legal Advisor

Partner at Weil, Gotshal & Manges LLP

Legal Advisor

Partner at Kirkland & Ellis LLP

Clients

Southern Company is an American gas and electric utility holding company based in the southern United States. It is headquartered in Atlanta, Georgia, with executive offices also located in Birmingham, Alabama. The company is currently the second largest utility company in the U.S. in terms of customer base. Through its subsidiaries it serves 9 million gas and electric utility customers in 6 states. Southern Company's regulated regional electric utilities serve a 120,000-square-mile (310,000 km2) territory with 27,000 miles (43,000 km) of distribution lines.

Suburban Propane Partners (NYSE: SPH) has been in the customer service business since 1928. A Master Limited Partnership since 1996, Suburban is a value-oriented company managed for long-term, consistent performance. Headquartered in Whippany, New Jersey, Suburban is a nationwide marketer and distributor of a diverse array of products to meet the energy needs of our customers, specializing in propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. With nearly 2,600 full-time employees, Suburban maintains business operations in 30 states, providing prompt, reliable service to approximately 750,000 residential, commercial, industrial and agricultural customers through more than 300 locations

EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Canada, Trinidad, the United Kingdom and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol “EOG.” At December 31, 2011, EOG’s estimated net proved crude oil, condensate and natural gas liquids reserves were 745 million barrels and estimated net proved natural gas reserves were 7,851 billion cubic feet for a total of 2,054 million barrels of oil equivalent. Approximately 84 percent of these reserves on a crude oil equivalent basis were located in the United States, 9 percent in Canada, 6 percent in Trinidad and less than 1 percent in the United Kingdom and China. At year-end 2011, EOG had approximately 2,550 employees

Key Stats and Financials As of 2020
Market Capitalization
$7.2B
Total Enterprise Value
$17.2B
Earnings Per Share
$-7.26
Net Profit
$-1.55B
EBITDA
$2.13B
EBITDAMargin
25.8%
Total Debt
$7.81B
Total Equity
$6.2B
Enterprise Value / Sales
2.07x
Enterprise Value EBITDAOperating
8.01x
TEVNet Income
-11.04x
Debt TEV
0.46x
Three Year Compounded Annual Growth Rate Of Revenue
-2.28%
Revenue
$8.27B
Non-Profit Donations & Grants
$10K - $25K
2018
$10K - $25K
2017
$10K - $15K
2015
Political Donations
$1,000
2012
$500
2012
Investments
Details Hidden

Lightfoot Capital Partners focuses on direct investments in energy-related businesses, assets and securities.

Investors
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Warburg Pincus invests in companies located in the US primarily in North America, Europe and Asia.. The firm focuses on investments in the following sectors: financial services, healthcare, energy, consumer/manufacturing/industrials and technology, media and telecommunications (TMT). They participates in venture capital investments, growth equity investments, spin-outs, LBOs and special situation opportunities. They invest primarily in North America, Europe and Asia.

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North Cove Partners specializes in buyouts and growth equity investments. The firm employs a sector-focused investment strategy that is based on the use of fundamental research to develop differentiated and timely investment themes. They invest across a variety of sectors including consumer products, energy and power, financial services, healthcare, industrials and media and communications. North Cove Partners seeks to invest in high-quality, market leading companies in partnership with their management teams.

Suppliers
Sandridge Mississippian Trust II Trusts & Funds | Houston, TX

SandRidge Mississippian Trust II is a close-ended investment fund and investment trust, which engages in acquiring and holding royalty interests for the benefit of trust unit holders. The company was founded on December 13, 2011 and is headquartered in Houston, TX.

PrimeEnergy Resources Corp. Oil & Gas | Houston, TX

PrimeEnergy Resources Corp. engages in the acquisition, developing and producing oil and natural gas. It owns producing and non-producing properties located primarily in Texas, Oklahoma and West Virginia. The company was founded in March 1973 and is headquartered in Houston, TX.

Sandridge Mississippian Trust I Oil & Gas | Austin, TX

Sandridge Mississippian Trust I is a statutory trust, which engages in acquiring and holding royalty interests in specified oil and natural gas properties in the Mississippian formation in Alfalfa, Garfield, Grant, and Woods counties in Oklahoma. The company was founded on December 30, 2010 and is headquartered in Houston, TX.

Competitors
Kinder Morgan, Inc. Oil & Gas - Houston, TX

Kinder Morgan, Inc. operates as an energy infrastructure company. The firm engages in the operation of pipelines and terminals that transport natural gas, gasoline, crude oil, carbon dioxide (CO2) and other products and stores petroleum products chemicals and handles bulk materials like ethanol, coal, petroleum coke and steel. It operates through the following segments: Natural Gas Pipelines, CO2, Terminals, Product Pipelines and Kinder Morgan Canada. The Natural Gas Pipelines segment engages in the ownership and operation of major interstate and intrastate natural gas pipeline and storage systems, natural gas and crude oil gathering systems and natural gas processing and treating facilities. The CO2 segment focuses on the production, transportation and marketing of CO2 to oil fields that use CO2 as a flooding medium for recovering crude oil from mature oil fields to increase production. The Terminals segment consists of the ownership and operation of liquids and bulk terminal facilities located throughout the U.S. and portions of Canada that trans load and store refined petroleum products, crude oil, chemicals, ethanol and bulk products, including coal, petroleum coke, fertilizer, steel and ores. The Products Pipelines segment owns and operates refined petroleum products, NGL and crude oil and condensate pipelines that primarily deliver, among other products, gasoline, diesel and jet fuel, propane, crude oil and condensate to various markets. The Kinder Morgan Canada segment operates the Trans Mountain pipeline system that transports crude oil and refined petroleum products from Edmonton, Alberta, Canada for marketing terminals and refineries in British Columbia, Canada and the state of Washington. The company was founded by Richard D. Kinder and William V. Morgan in February 1997 and is headquartered in Houston, TX.

Hess Midstream LP Oil & Gas - Houston, TX

Hess Midstream LP engages in the ownership, development and acquisition of midstream assets to provide services to third-party crude oil and natural gas producers. It operates through the following segments: Gathering, Processing and Storage, and Terminaling and Export. The Gathering segment consists of natural gas and crude oil gathering and compression. The Processing and Storage segment includes Tioga gas plant, equity investment in Little Missouri (LM4) joint venture, and mentor storage terminal. The Terminaling and Export segment comprises of ramberg terminal facility, Tioga rail terminal, crude oil rail cars, and Johnson's corner header system. The company was founded on January 17, 2014 and is headquartered in Houston, TX.

Energy Transfer LP Oil & Gas - Dallas, TX

Energy Transfer is a Texas-based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to approximately 69,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines today, the Energy Transfer family of partnerships remains dedicated to providing exceptional service to its customers and attractive returns to its investors. Through several recent transformative transactions, we have expanded our scope of services and increased our focus on the transportation of heavier hydrocarbons. While we remain committed to the prolific natural gas industry, we enhanced our diversified portfolio of assets by making a strategic entrance into the NGL business through the acquisition of Louis Dreyfus’ NGL storage, fractionation and transportation operations in 2011. In 2012, we acquired Southern Union Company, a leading diversified natural gas company, which expanded our national footprint and added more than 20,000 miles of gathering and transportation pipelines to our portfolio. More recently, we made a strong entrance into the crude oil and refined products business by acquiring Sunoco, Inc., including its interest in Sunoco Logistics Partners L.P. (SXL). These acquisitions, together with our already robust asset base, have enabled Energy Transfer to become a premier provider of services to producers and consumers of natural gas, NGLs, crude oil, and refined products. To improve operating efficiencies within the Energy Transfer family, in October 2012 we formed ETP Holdco Corporation, which is owned 60% by ETE and 40% by ETP and controlled through a majority board membership by ETP. ETP Holdco owns a 100% equity interest in Southern Union Company and Sunoco, Inc. (excluding SXL)

Awards & Honors
Rank #387
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #387
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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