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Form 8-K · Current Report · Filed 2025-11-05

Targa Resources Reports Record Third Quarter 2025 Results and Announces Dividend Increase

Targa Resources Corp. reported record third quarter 2025 financial results with adjusted EBITDA of $1.3 billion, a 19% increase year-over-year. The company repurchased $156 million of its common stock in Q3 2025 and expects to maintain its share repurchase programs. Additionally, Targa announced plans to increase its 2026 common dividend to $5.00 per share, a 25% increase from 2025. Management also updated guidance for 2025 and provided operational updates for its gathering and processing as well as logistics and transportation segments.

Filer
Targa Resources Corp. TRGP · NYSE
Filed
Accession
0001193125-25-265621
CIK
0001389170
Signal
Medium impactEnergy

Items reported

Item 2.02

Results of Operations and Financial Condition

Earnings Beat General Statement
Item 7.01

Regulation FD Disclosure

Regulation FD Disclosure

Market reaction

Close before filing

$154.57

Next session

+9.9%

Since filing

+74.9%

Latest close

$270.37

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from TRGP reporting the same item, with the next session's move:

About Targa Resources Corp.

Targa Resources Corp. is a prominent midstream energy company focused on the processing, storage, transportation, and marketing of natural gas and natural gas liquids (NGLs). It plays a vital role in the energy sector by facilitating the efficient flow of these critical resources from production sites to end users. Targa Resources Corp. provides a variety of essential services including gathering and processing, which involves collecting natural gas from wells, separating impurities, and preparing it for transport. Additionally, the company is involved in fractionation, which divides mixed NGLs into individual hydrocarbons such as propane, butane, and ethane. Targa's operations are key to energy infrastructure, supporting industries that rely on natural gas and NGLs for power generation, manufacturing, and heating. With a significant presence in major U.S. shale basins, Targa Resources Corp. contributes to the country's energy supply chain stability and efficiency, making it a strategic player in the integration and distribution of energy resources across multiple markets.

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