Form 10-Q · Quarterly report
Targa Resources 10-Q, filed Aug 6, 2026
- Filed
- CIK
- 0001389170
- Accession no.
- 0001193125-26-337729
Summary
Targa Resources reported that several Permian Basin natural gas processing plants and a Mont Belvieu fractionation train began operations in the first half of 2026, with further processing, pipeline, and export expansions scheduled through 2028. The midstream company also completed the $1.25 billion cash acquisition of Stakeholder Midstream in January 2026, increased its quarterly common dividend to $1.25 per share, and continued repurchases under its share buyback programs.
Key points
- Targa acquired all membership interests in Stakeholder Midstream, LLC for $1.25 billion in cash in January 2026, with an effective date of January 1, 2026.
- Targa's board declared an increase in the quarterly common dividend to $1.25 per share, or $5.00 annualized, effective for the first quarter of 2026.
- The Falcon II, East Pembrook, and East Driver cryogenic processing plants, each 275 MMcf/d, commenced operations in the first half of 2026.
- A certificate application for the 36-mile Forza interstate natural gas pipeline was filed with FERC on December 3, 2025, and the pipeline is expected to begin operations in mid-2028 pending regulatory approvals.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Overview Targa Resources Corp. (NYSE: TRGP) is a publicly traded Delaware corporation formed in October 2005. Targa is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary domestic infrastructure assets. Our Operations We are engaged primarily in the business of: •gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; •transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; …
An excerpt of the text as filed with the SEC, cut for length.
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