Earnings ·
Targa Resources reports Q3 net income of $658M and raises 2027 dividend guidance to $6.00 per share
TRGPTarga Resources Corp.
Targa Resources Corp. reported third-quarter 2026 net income attributable to the company of $658 million, up from $478 million in the prior-year period. Adjusted EBITDA reached $1,504 million, an 18% increase year-over-year, driven by record Permian inlet volumes and higher natural gas and NGL prices. The company raised its full-year 2026 adjusted EBITDA outlook to at least $6.0 billion while maintaining net growth capital expenditure estimates of approximately $5.0 billion. Additionally, management intends to recommend a 20% increase in the annual common dividend to $6.00 per share for 2027, up from the current $5.00 annualized rate. Targa Resources Corp. operates as an independent midstream energy company focused on gathering, processing, and transporting natural gas and NGLs.