Targa Resources Posts Record Q2 EBITDA of $1.6B, Raises Full-Year Guidance
TRGP sits 83% above its 52-week low of $144.14.
Summary
Targa Resources delivered record Q2 2026 adjusted EBITDA of $1.6 billion, a 38% jump from a year ago and 14% above Q1, driven by record Permian volumes and higher marketing margins. Net income rose to $765 million from $629 million. The company raised its full-year 2026 adjusted EBITDA outlook to the top end of its $5.7–$5.9 billion range, signaling confidence in continued momentum. Operations benefited from the early startup of the East Driver plant and the Train 11 fractionator, adding capacity ahead of schedule. The 25% dividend hike to $1.25 per share and $80 million in buybacks underscore strong cash generation. This follows the Q1 10-Q showing robust earnings and the $1.25 billion Stakeholder Midstream acquisition, reinforcing a pattern of operational execution and capital returns.
At the time of this announcement, TRGP was trading at $263.51 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $55.8B. The 52-week trading range was $144.14 to $291.04. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.