Financial giants have made a conspicuous bearish move on Targa Resources. Our analysis of options history for Targa Resources (NYSE:TRGP) revealed 8 unusual trades.Delving into the details, we found 0% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $82,444, and 6 were calls, valued at $828,450.What's The Price Target?Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a p ...

Record 2025 performance was driven by an 11% increase in Permian volumes and record NGL transport, fractionation, and LPG export throughput. Management attributes growth to a combination of existing customer drilling activity and significant commercial success, adding several billion cubic feet per day of gas volumes beyond legacy dedications. The company is executing an aggressive 8-plant expansion plan over two years to provide 2.2 billion cubic feet per day of incremental processing capacity to mee ...

For the quarter ended December 2025, Targa Resources, Inc. (TRGP) reported revenue of $4.06 billion, down 7.9% over the same period last year. EPS came in at $2.51, compared to $1.44 in the year-ago quarter.The reported revenue represents a surprise of -21.69% over the Zacks Consensus Estimate of $5.18 billion. With the consensus EPS estimate being $2.39, the EPS surprise was +5.15%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-34991 TARGA RESOURCES CORP. (Exact name of registrant as specified in its charter) Delaware 20-3701075 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - Targa Resources reported a record Adjusted EBITDA of $4.96 billion for 2025, which is an increase of over $800 million or 20% year-over-year [8][20][21] - The fourth quarter Adjusted EBITDA was $1.34 billion, reflecting a 5% increase from the previous quarter [19][20] - The company expects full-year Adjusted EBITDA for 2026 to be between $5.4 billion and $5.6 billion, representing an 11% increase over 2025 [22][23] Business Line Data and Key Metrics Changes - Permian volumes averaged a record 6.65 billion cubic feet per day in the fourth quarter, up 10% from the previous year [14] - NGL transportation volumes averaged a record 1.05 million barrels per day, and fractionation volumes averaged 1.14 million barrels per day [17][18] - LPG export volumes averaged 13.5 million barrels per month [18] Market Data and Key Metrics Changes - The company added approximately 350,000 dedicated acres in 2025 and completed the acquisition of Stakeholder, adding nearly 500,000 dedicated acres [15] - The outlook for natural gas prices at Waha is expected to remain volatile throughout 2026, but improved egress is seen as a long-term positive for Targa and its producers [17] Company Strategy and Development Direction - Targa plans to invest in two new projects: the Yeti Two processing plant and a thirteenth fractionator in Mont Belvieu, with additional plants planned for early 2028 [10][12] - The company aims to maintain a strong free cash flow profile post-completion of major projects like Speedway and LPG export expansion, with a focus on growing Adjusted EBITDA and dividends [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued low double-digit volume growth in the Permian for 2026 and beyond, supported by strong commercial success and existing customer relationships [9][32] - The company anticipates reaching a run rate Adjusted EBITDA of over $6 billion following the completion of Speedway, which will enable further investments in growth [12] Other Important Information - Targa's net consolidated leverage ratio was approximately 3.5 times at year-end, well within the long-term target range of 3-4 times [22] - The company repurchased $642 million of common shares in 2025 at a weighted average price of $170.45 [21] Q&A Session Summary Question: Outlook for 2026 and growth drivers - Management highlighted strong producer relationships and existing customer activity as key drivers for resilience in growth outlook for 2026 [30][31] Question: CapEx budget increase - The increase in CapEx is attributed to new plants and field capital spending to support growth, reflecting a larger base for future growth [33][34] Question: Durability of commercial success - Management indicated that strong growth is expected even without additional commercial success due to existing contracts and dedicated acreage [44][45] Question: Waha price outlook - Management expects Waha prices to remain volatile but sees long-term improvements with new pipeline capacity coming online [54][56] Question: Marketing opportunities for 2026 - Management remains conservative in forecasting marketing gains for 2026, with potential upside from market conditions [62][63] Question: Growth in the Delaware Basin - Management noted that growth in the Delaware is driven by both market share gains and overall production increases from dedicated producers [64][66] Question: Impact of technological advancements on well recovery - Management acknowledged improvements in well recovery due to technological advancements by producers, contributing positively to Targa's outlook [72][74] Question: Details on recent bolt-on acquisitions - Acquisitions were made from producers with strong relationships, aimed at enhancing Targa's asset base and operational efficiency [76]

Targa Resources (NYSE:TRGP) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Company ParticipantsBen Branstetter - Senior Vice President, Downstream CommercialBobby Muraro - Chief Commercial OfficerJean Ann Salisbury - Managing DirectorJen Kneale - PresidentMatthew Meloy - CEOScott Pryor - President, Logistics and TransportationTristan Richardson - VP of Investor Relations and FundamentalsWill Byers - CFONone - Company RepresentativeConference Call ParticipantsAJ O'Donnell - Equity Research AnalystAmit S ...

Targa Resources (NYSE:TRGP) Q4 2025 Earnings call February 19, 2026 11:00 AM ET Speaker13Good day, and thank you for standing by. Welcome to the Targa Resources fourth quarter 2025 earnings presentation. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during this session, you'll need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdr ...

Fourth Quarter 2025 Earnings Supplement February 19, 2026 | TARGA RESOURCES CORP. Forward Looking Statements + Reduction in non-controlling interests attributable to Badlands transaction and acquisition of CBF minority interest Certain statements in this presentation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, include ...

Targa Resources Corp. (TRGP) reported fourth quarter net income attributable to Targa Resources of $545 million compared to $351 million, a year ago. Adjusted EBITDA was $1.34 billion for the fourth quarter of 2025 compared to $1.12 billion, last year. Total revenues were $4.06 billion, compared to $4.41 billion, last year.For 2026, Targa estimates full year adjusted EBITDA to be between $5.4 billion and $5.6 billion. For the first quarter of 2026, the company intends to recommend to Board an increase to q ...

Core Insights - Targa Resources exceeded Wall Street estimates for fourth-quarter adjusted core profit, driven by increased demand and higher transport volumes of natural gas and natural gas liquids [1] - U.S. natural gas futures rose over 11% sequentially in the fourth quarter, ending a declining trend due to higher demand and increased pipeline volumes [1] - Midstream companies like Targa are benefiting from strong oil and gas production in the Permian Basin, rising natural gas demand from liquefied natural gas exports, and increased power generation linked to AI operations, cryptocurrency mining, and data centers [1] Financial Performance - Targa reported total quarterly natural gas sales of 2.96 billion British thermal units per day (BBtu/d), a 6.2% increase from the previous year [1] - NGL pipeline transportation volumes increased by approximately 20.3% to 1,048.7 thousand barrels per day (MBbl/d) [1] - Adjusted core profit for the quarter ended December 31 was $1.34 billion, surpassing analysts' estimates of $1.27 billion [1] Future Outlook - Targa anticipates continued growth across its Permian footprint, projecting record NGL pipeline transportation, fractionation, and liquefied petroleum gas export volumes by 2026 [1] - The company expects to bring online the Falcon II plant in the Permian Delaware region in the first quarter [1] - For the current year, Targa forecasts adjusted core earnings between $5.4 billion and $5.6 billion, aligning with analysts' average estimate of $5.5 billion [1]