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AI brief of an SEC Form 8-K · Targa Resources (TRGP)

Targa Resources reports record 2025 net income of $1.9 billion, 47% higher

Positive Impact 4 of 5 earnings Written later

Targa Resources reported record fourth-quarter and full-year 2025 results, with full-year net income attributable to the company rising to $1,923 million from $1,312 million. The company estimates 2026 adjusted EBITDA of $5.4 billion to $5.6 billion and intends to recommend a 25% increase in its common dividend to $5.00 per share annualized.

Key points

  • Full-year 2025 net income attributable to Targa was $1,923 million, up from $1,312 million in 2024; adjusted EBITDA was $4,957 million, up 20%.
  • Fourth-quarter 2025 net income attributable to Targa was $545 million, up from $351 million; adjusted EBITDA was $1,341 million, up from $1,122 million.
  • Estimates 2026 adjusted EBITDA of $5.4 billion to $5.6 billion and net growth capital expenditures of approximately $4.5 billion.
  • Intends to recommend a quarterly common dividend of $1.25 per share ($5.00 annualized) for the first quarter of 2026, payable in May 2026.

The filing

CompanyTarga Resources (TRGP)
Form8-K, current report
Filed with the SECFeb 19, 2026, 6:15 AM ET
Accession number0001193125-26-058040

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 19, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.