secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2026-02-19T23:59:59+00:00
Accession:  0001193125-26-058040
Event type: earnings
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000119312526058040/0001193125-26-058040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000119312526058040/trgp-20260219.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-058040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer