Quarterly ResultMay 7, 2026, 03:43 PM
Targa Resources Acquires Stakeholder Midstream for $1.25B; Q1 EPS $2.22
AI Summary
Targa Resources Corp. completed the acquisition of Stakeholder Midstream, LLC for $1.25 billion in January 2026, integrating its Permian Basin midstream assets. For the first quarter ended March 31, 2026, the company reported a significant increase in net income attributable to common shareholders to $479.6 million, up from $270.5 million in the prior year. Basic net income per common share rose to $2.22 from $0.91. Total revenues, however, decreased to $4,094.7 million from $4,561.5 million year-over-year.
Key Highlights
- Targa Resources completed the acquisition of Stakeholder Midstream for $1.25 billion in January 2026.
- Net income attributable to common shareholders for Q1 2026 increased to $479.6 million from $270.5 million in Q1 2025.
- Basic net income per common share for Q1 2026 rose to $2.22, up from $0.91 in Q1 2025.
- Total revenues for Q1 2026 decreased to $4,094.7 million from $4,561.5 million in Q1 2025.
- Property, plant and equipment, net, grew to $21,770.9 million as of March 31, 2026, from $20,534.8 million at Dec 31, 2025.
- Long-term debt increased to $18,434.9 million as of March 31, 2026, from $16,662.4 million at Dec 31, 2025.
- Dividends paid to common shareholders were $218.9 million in Q1 2026, up from $167.2 million in Q1 2025.