Targa Resources reports strong Q3 results and proposes a 20% dividend increase for 2027
Targa Resources Corp. posted third‑quarter 2026 net income of $676.1 million, a 39% year‑over‑year rise, and adjusted EBITDA of $1.5 billion, up 18% YoY. Revenue reached $5.6 billion, 35% higher than a year earlier, driven by record Permian inlet volumes and higher commodity prices. The company said it now expects full‑year 2026 adjusted EBITDA to be no less than $6.0 billion and will recommend a common dividend of $6.00 per share for 2027, a 20% increase over the 2026 payout. Management also announced new processing plants, a new NGL fractionator and leadership changes.
Why it matters
The higher dividend proposal raises cash returns to shareholders and may support the stock price. The raised full‑year adjusted EBITDA outlook signals stronger operating performance, which could improve free cash flow and fund the planned capital projects.
Key facts
- 1Third‑quarter 2026 net income was $676.1 million, a 39% increase YoY. stocktitan.net
- 2Adjusted EBITDA for the quarter was $1.5 billion, up 18% YoY. stocktitan.net
- 3Quarterly revenue was $5.6 billion, 35% higher than the same quarter in 2025. investing.com
- 4The company now expects full‑year 2026 adjusted EBITDA to be at least $6.0 billion. stocktitan.net
- 5It plans to recommend a 2027 common dividend of $6.00 per share, a 20% increase over 2026. stocktitan.net
- 6New 20‑year fee‑based agreements with ExxonMobil were announced in August 2026. stocktitan.net
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.