Targa Resources Corp.

Targa Resources Corp. announced that its subsidiary, Targa Resources Partners LP, and Targa Receivables LLC, entered into a Seventeenth Amendment to the Receivables Purchase Agreement. This amendment extends the Facility Termination Date of its accounts receivable securitization facility to July 30, 2027. Additionally, it establishes an uncommitted line of $200 million, enhancing the company's financial flexibility. As of July 1, 2026, approximately $451 million in trade receivable purchases were outstanding under the facility.

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.

Targa Resources Corp. reported strong first quarter 2026 results, with net income attributable to Targa Resources Corp. increasing 77% year-over-year to $480 million. Adjusted EBITDA reached a record $1.403 billion, up 19% from Q1 2025. The company raised its full-year 2026 adjusted EBITDA estimate to $5.7 billion to $5.9 billion and announced two new Permian Delaware processing plants. Additionally, Targa increased its quarterly cash dividend by 25% to $1.25 per common share and repurchased $55 million in shares.

Targa Resources Corp. announced a 25% increase in its quarterly cash dividend for the first quarter of 2026, raising it to $1.25 per common share, or $5.00 on an annualized basis. This dividend will be paid on May 15, 2026, to shareholders of record as of April 30, 2026. The company also scheduled its first quarter 2026 financial results release for May 7, 2026, before market open, followed by a webcast.