Go real-time, for free

The news here runs 15 minutes behind. Sign up free and see every story the moment it is published.

Already have an account? Sign in

Raydn

delayed by 15 minutes - go real-time About API Sign in
EN
Raydn Sign in Back to the front page
Company NewsTRGP

Targa Resources raises 2026 EBITDA outlook to at least $6.0bn and plans a bigger 2027 dividend

Management intends to recommend a 2027 dividend of $6.00 a share, 20% more than in 2026, while growth spending stays at about $5.0bn.

Chart: TRGP, one-minute prices, three sessions

Targa Resources raised its 2026 earnings outlook and said it will recommend a 20% higher dividend for 2027, after third-quarter revenue of $5.60B beat the $4.85B expected.

The company now expects adjusted EBITDA, earnings before interest, tax, depreciation and amortisation, of at least $6.0bn for the year. Spending on growth has not moved. Net growth capital expenditure is still about $5.0bn, the level Targa set in August alongside its new ExxonMobil agreements. A higher profit outlook on unchanged spending suggests the earlier capital programme is starting to show up in earnings.

Shareholders benefit directly. Management intends to recommend an annual dividend of $6.00 per share for 2027, a 20% increase from 2026. The board declared a third-quarter 2026 dividend of $1.25 per share, 25% above the dividend for the third quarter of 2025.

There are limits to how far to read this. The 2027 dividend remains an intention until the board approves it. And the new Permian Delaware plants are not due in service until the first half of 2028, so the timing of any further earnings lift depends on those dates.

© Raydn · raydn.us