Targa Resources Reports Record Q3 2026 Volumes and Raises Full-Year EBITDA Guidance
Targa Resources (TRGP) delivered a strong third quarter for 2026, characterized by record NGL transportation and fractionation volumes. The company saw significant growth in the Permian Basin, with natural gas inlet volumes reaching 7.5 billion cubic feet per day, representing a 14% increase year-over-year. This operational success has allowed management to raise full-year adjusted EBITDA guidance to at least $6 billion, marking a projected 21% growth compared to 2025. Financial health remains robust with a consolidated leverage ratio of 3.4x, sitting comfortably within the company's long-term target range. Targa also demonstrated commitment to shareholder returns by increasing its common dividend by 25% year-over-year for the third quarter and providing optimistic 2027 dividend guidance. While volume growth has exceeded expectations, management noted that price-driven curtailments in the first half of the year had previously impacted performance.
Tickers: $TRGP
Topics: capital expenditures dividend announcement EBITDA guidance NGL transportation Permian Basin volumes