Targa Resources Corp NYSE:TRGP Price, Chart, News & Insight

Targa Resources Rises 1% as EBITDA Grows and 2027 Dividend Increase Signals Confidence

Targa Resources (NYSE: TRGP) shares rose about 1% after the company reported higher third-quarter earnings, record Permian and NGL volumes, and outlined plans for a 20% dividend increase in 2027.

Third-quarter net income rose to $658 million from $478 million a year earlier, while adjusted EBITDA increased 18% to $1.50 billion.

Operationally, Targa posted record Permian inlet, NGL transportation and fractionation volumes. The company also continued expanding its infrastructure footprint, including new processing plants in the Permian and a new NGL fractionation train in Mont Belvieu.

Targa now expects full-year 2026 adjusted EBITDA of at least $6.0 billion, while maintaining its approximately $5.0 billion growth capital spending outlook.

Management also plans to recommend a 2027 annual dividend of $6.00 per share, up 20% from the 2026 level.

The 1% share gain appears to reflect strong volume growth, continued infrastructure expansion and confidence in rising shareholder returns, despite a sequential decline in adjusted EBITDA caused by weaker marketing and LPG export margins.

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The Investor 11-05-26

Targa Resources Stock Jumps 7.3% as Morgan Stanley and Jefferies Raise Price Targets

Targa Resources (NYSE: TRGP) shares are up 7.3% after two Wall Street firms raised their price targets on the midstream energy company, adding to positive sentiment around the stock.

Morgan Stanley analyst Robert Kad raised the firm's price target on Targa Resources from $333 to $343 while maintaining an Overweight rating. Jefferies analyst Julien Dumoulin-Smith was even more bullish, increasing the target from $324 to $345 and maintaining a Buy rating.

With Targa trading around $298.21, the new targets imply upside of approximately 15% to 16%.

Why the Analyst Updates Are Positive for Targa Resources

The simultaneous target increases from two major investment banks provide a constructive signal for TRGP. Both firms already had bullish ratings and chose to raise their valuation expectations rather than simply maintaining their previous targets.

The revisions come as Targa Resources occupies a strong position in the U.S. midstream energy sector. The company owns and operates extensive natural gas and natural gas liquids infrastructure, with particularly important exposure to the Permian Basin.

That positioning is significant because rising U.S. natural gas production, LNG export demand and growing electricity requirements — including power demand associated with data centers and AI infrastructure — can increase the need for gathering, processing and transportation infrastructure.

Energy Sector Strength Adds Support

Targa's 7.3% gain also comes against a supportive backdrop for parts of the energy sector. Higher oil and natural gas prices and geopolitical uncertainty can improve investor sentiment toward energy infrastructure companies, although Targa's fee-based midstream business means its earnings exposure to commodity prices is generally less direct than that of oil and gas producers.

The two analyst revisions reinforce the bullish case. Morgan Stanley's $343 target represents about 15% upside from the $298.21 price shown in the report, while Jefferies' $345 target implies nearly 16% upside.

With both firms retaining positive ratings, today's upgrades suggest analysts continue to see room for Targa Resources to benefit from expanding U.S. energy infrastructure requirements and its strategically important position in natural gas and NGL markets.

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European Investor 08-18-26

# Targa Resources Gains 2% as Record Quarter and Permian Growth Drive Raised Outlook

Houston, May 7, 2026 — Shares in Targa Resources edged up 2% today after the midstream energy company reported record first quarter results and raised its full-year financial outlook, with a relentless expansion program in the Permian Basin providing the backbone of investor confidence.

Targa posted adjusted EBITDA of $1.403 billion for Q1 2026, up 19% year-over-year and 5% sequentially — a record for any first quarter in the company's history. Net income attributable to Targa shareholders nearly doubled to $480 million from $271 million in the same period last year. The quarter was driven by record Permian inlet volumes in the Gathering and Processing segment, fueled by the acquisition of additional Permian Basin assets and the completion of the new Falcon II processing plant in February. Record NGL fractionation volumes in the Logistics and Transportation segment added further momentum.

There were some offsetting headwinds. Severe winter weather and price-related producer curtailments weighed on Permian volumes during the quarter, and an unplanned outage at part of the company's LPG export facility reduced export volumes late in the period — though that issue was resolved early in Q2. Despite those temporary disruptions, the underlying growth trajectory remained intact.

Full-year 2026 adjusted EBITDA guidance was raised to $5.7 to $5.9 billion, implying 17% year-over-year growth at the midpoint. Management noted that Q2 Permian inlet volumes are already trending significantly higher than Q1, providing early validation of the raised outlook. Two additional processing plants — Roadrunner III and Copperhead II — were announced today in the Permian Delaware, each targeting first quarter 2028 operations.

Shareholders also received a 25% dividend increase to $5.00 annualized per share, payable May 15. The measured 2% stock gain reflects a market that views the results as solid and consistent, rather than surprising — exactly what investors in a capital-intensive infrastructure business tend to expect.

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European Investor 05-07-26

Targa Resources Corp. (NYSE: TRGP) announced a $1.25 billion cash deal to acquire Stakeholder Midstream, expanding its gathering and processing footprint in the Permian Basin. The acquisition includes 480 miles of natural gas pipelines, 180 MMcf/d of processing and sour gas treating capacity, carbon capture activities generating 45Q tax credits, and a crude gathering system.

The assets are backed by long-term, fee-based contracts tied to approximately 170,000 dedicated acres with low decline rates, supporting a stable volume profile. Targa expects the acquired system to generate around $200 million in annual unlevered adjusted free cash flow with minimal capital needs.

CEO Matt Meloy said the deal strengthens Targa’s growth profile and aligns with its strategy of value creation and balance-sheet discipline. The transaction is expected to close in the first quarter of 2026, funded through cash on hand and Targa’s existing $3.5 billion credit facility, with limited impact on leverage.

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The Investor 12-02-25

Targa Resources Launches Open Season for Delaware Basin Gas Pipeline

HOUSTON, Sept. 2, 2025 – Targa Resources Corp. (NYSE: TRGP) announced the launch of a non-binding open season for its proposed Forza Pipeline Project, a new interstate natural gas pipeline designed to support growing production in the Delaware Basin.

The project includes 36 miles of 36-inch pipe with capacity to transport 750,000 dekatherms per day from Lea County, New Mexico to delivery points near the Waha Hub in Texas. It will connect both new and existing processing facilities to in-basin and downstream demand markets.

The open season runs from September 2, 2025, to October 2, 2025, with completion of the project targeted for mid-2028, pending regulatory approvals and shipper commitments.

Diamondback will maintain a 30% equity interest in Deep Blue and remain a key customer through a renewed 15-year water dedication agreement across 12 counties in the Midland Basin.

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The Investor 09-02-25

Targa Resources Corp. completed a public offering of $1.5 billion in senior notes on June 18, 2025. The offering includes $750 million of 4.900% Senior Notes due 2030 and $750 million of 5.650% Senior Notes due 2036. Both series are fully and unconditionally guaranteed on a senior unsecured basis by certain subsidiaries.

The net proceeds will be used to redeem Targa Resources Partners LP’s 6.500% Senior Notes due 2027 and for general corporate purposes, including debt repayment, capital expenditures, working capital, or investments in subsidiaries.

The notes were issued under an existing shelf registration and are governed by the Eleventh Supplemental Indenture dated June 18, 2025, in connection with a Base Indenture from 2022. U.S. Bank Trust Company serves as trustee.

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M

ME NEWS 06-19-25

Targa Resources Reports Record Q1 2025 Results with 22% EBITDA Growth and 33% Dividend Hike

Targa Resources Corp. (NYSE: TRGP) announced first quarter 2025 results, delivering record adjusted EBITDA of $1.18 billion, a 22% increase from $966.2 million in Q1 2024. Net income for the quarter was $270.5 million, slightly down from $275.2 million a year earlier.

Key developments include:

- A 33% year-over-year dividend increase, with the quarterly payout raised to $1.00 per share ($4.00 annualized).
- $214 million in share repurchases through April 2025, including $124.9 million in Q1 and $89.0 million post-quarter.
- Full-year 2025 adjusted EBITDA guidance remains between $4.65 billion and $4.85 billion.
- Capital expenditure estimates for 2025 remain unchanged at $2.6 billion to $2.8 billion.

The $217 million Q1 dividend will be paid on May 15, 2025, to shareholders of record as of April 30.

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Global Finance News 05-01-25

Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that its board of directors has declared an increase to its quarterly cash dividend to $1.00 per common share, or $4.00 per common share on an annualized basis, for the first quarter of 2025, consistent with previously disclosed expectations. This dividend represents a 33 percent increase over the common dividend declared with respect to the first quarter of 2024. This cash dividend will be paid May 15, 2025 on all outstanding common shares to holders of record as of the close of business on April 30, 2025.

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European Investor 04-11-25

Targa Resources Corp. reported record financial results for the fourth quarter and full year 2024, reflecting strong operational performance and expansion in key business segments.

For Q4 2024, net income attributable to Targa was $351 million, up from $299.6 million in Q4 2023. Adjusted EBITDA reached $1.12 billion, a 17% increase year-over-year. For the full year 2024, net income totaled $1.31 billion, slightly lower than 2023, while adjusted EBITDA increased to a record $4.14 billion from $3.53 billion in 2023.

The company highlighted record performance in its Permian operations, NGL transportation, fractionation, and LPG exports. Key growth projects included the completion of the Greenwood II processing plant and Train 10 fractionator in Mont Belvieu, as well as the commencement of the Bull Moose plant and a new front-end treater in Permian Delaware.

Targa announced $2.6–$2.8 billion in net growth capital expenditures for 2025 and expects full-year adjusted EBITDA to increase 15% to a range of $4.65–$4.85 billion. The company also declared a quarterly dividend of $0.75 per share, with plans to raise the annual dividend to $4.00 per share in 2025.

In a major financial move, Targa announced the refinancing of $1.8 billion in preferred equity in its Badlands subsidiary, replacing higher-cost capital with lower-cost debt. The company also expanded its revolving credit facility to $3.5 billion, increasing liquidity to $2.8 billion.

Looking ahead, Targa continues to invest in infrastructure growth, including the Delaware Express NGL pipeline expansion, a new Train 12 fractionator, and an expansion of LPG export capacity at its Galena Park Marine Terminal. These projects are expected to support long-term growth and operational efficiency.

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WS News 02-20-25

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