---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-058040"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:41:52.106635+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Targa posts record 2025 adjusted EBITDA of $4.96B, raises dividend 25% for 2026

## Summary
- Record Q4 adjusted EBITDA $1.34B vs $1.12B prior year; full year $4.96B (+20% YoY).
- Guides 2026 adjusted EBITDA $5.4-5.6B (midpoint +11%); net growth capex ~$4.5B.
- Recommended annual dividend increase to $5.00/share in 2026, up 25% from 2025.
- Completed Stakeholder Midstream acquisition for $1.25B in Jan 2026; bolt-on Permian deals $213M.
- Announces Yeti II plant (275 MMcf/d, Q4 2027) and Train 13 fractionator (150 MBbl/d, Q1 2028).

## SEC filing metadata
- accession: 0001193125-26-058040
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000119312526058040/0001193125-26-058040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000119312526058040/trgp-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-058040
- JSON: https://secwatch.observer/filing/0001193125-26-058040.json
- Plain text: https://secwatch.observer/filing/0001193125-26-058040.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.