Investors' Guide to Targa Resources' (TRGP) Dividend Hike

Zacks04-15

Leading midstream provider Targa Resources Corp. TRGP recently got approval from its board of directors to increase the quarterly dividend by 25 cents (or 50%) to 75 cents per share, which translates ...

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The new payout will be made on May 15 to its common shareholders of record on Apr 30.TRGP continues to execute across strategic priorities, thanks to volume gains across its infrastructure footprint, to go with strong business fundamentals and increasing earnings stability. This positive backdrop, together with Targa Resources’ strong returns, investment grade balance sheet and improving cash flow outlook, allowed the Zacks Rank #3  midstream operator to reward investors with a dividend hike last week.Then there is HighPeak Energy ,The Fort Worth, TX-based HPK announced a quarterly dividend of 4 cents, taking the full-year payout to 16 cents, up 60% from the previous dividend. The new dividend, which offers a yield of 1%, was paid to stockholders of record ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"HPK":"Highpeak Energy Acquisition Corp","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","PSX":"Phillips 66","TRGP":"Targa Resources Corp","BK4585":"ETF&股票定投概念","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","MGY":"Magnolia Oil & Gas Corp","BK4588":"碎股","BK4213":"石油与天然气的勘探与生产","ISBC":"投资者银行","BK4211":"区域性银行","BK4138":"石油与天然气的炼制和营销","BK4144":"石油与天然气的储存和运输"},"translate_title":"Targa Resources（TRGP）股息上调投资者指南","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HPK":1,"ISBC":1,"MGY":1,"PSX":1,"TRGP":1},"content_text":"Leading midstream provider Targa Resources Corp. TRGP recently got approval from its board of directors to increase the quarterly dividend by 25 cents (or 50%) to 75 cents per share, which translates into $3 per share on an annualized basis. The new payout will be made on May 15 to its common shareholders of record on Apr 30.\nTRGP continues to execute across strategic priorities, thanks to volume gains across its infrastructure footprint, to go with strong business fundamentals and increasing earnings stability. This positive backdrop, together with Targa Resources’ strong returns, investment grade balance sheet and improving cash flow outlook, allowed the Zacks Rank #3 (Hold) midstream operator to reward investors with a dividend hike last week.\nYou can see the complete list of today’s Zacks #1 Rank stocks here.\nWhile stock buyback is another preferred tool for TRGP to distribute cash, the company’s policy dictates that it ploughs back cpital by growing common dividends meaningfully. Targa Resources’ current dividend yield of 2.6% might not be the best going around, but it is well ahead of the S&P 500’s 1.3%  and is well protected with a payout ratio of 52. As a result, the dividend not only looks quite sustainable but also leaves enough scope for future hikes.\nIn a volatile energy market context, a dividend increase serves as management’s signal of confidence in the company's prospects. By elevating the dividend, management is essentially expressing the belief that forthcoming cash flows will be sufficient to cover the increased dividend.\nTarga Resources is a leading provider of integrated midstream services in North America. The Houston, TX-based operator primarily derives its revenues from gathering, compressing, treating, processing and selling natural gas. Targa Resources also provides services associated with natural gas liquids (“NGL”), including those to liquefied petroleum gas (“LPG”) exporters, and crude oil.\nMeanwhile, TRGP is not the only energy company that recently announced a dividend increase. Here are some other firms that did the same:\nPhillips 66 (PSX) said on Apr 3 it will pay out a cash dividend of $1.15 per share of record on May 20. The company’s dividend represents a 10% increase to its quarterly dividend rate, providing an annualized dividend of $4.60 per share. At yesterday’s closing price, investors get a dividend yield of 2.8%.\nMagnolia Oil & Gas (MGY) is another energy operator that deserves mention. MGY increased the quarterly dividend by 13%, from 11.5 cents to 13 cents. This payout increase came into effect with the dividend recorded on Feb 16. At the current share price, Magnolia offers a dividend yield of 1.9%.\nThen there is HighPeak Energy (HPK), The Fort Worth, TX-based HPK announced a quarterly dividend of 4 cents, taking the full-year payout to 16 cents, up 60% from the previous dividend. The new dividend, which offers a yield of 1%, was paid to stockholders of record on Mar 1.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPhillips 66 (PSX) : Free Stock Analysis Report\nTarga Resources, Inc. (TRGP) : Free Stock Analysis Report\nMagnolia Oil & Gas Corp (MGY) : Free Stock Analysis Report\nHighPeak Energy, Inc. (HPK) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2427300212"}