Targa Resources Corp. (NYSE: TRGP) declared a first-quarter 2026 common dividend of $1.25 per share, representing a 25% increase from prior levels. TRGP also repurchased $55 million in common shares at an average price of $241.43 per share during Q1 2026. These capital return actions were announced alongside TRGP's Q1 2026 earnings release on 30 April 2026.

Dividends paid to TRGP common shareholders totalled $218.9 million during Q1 2026, up from $167.2 million in Q1 2025. TRGP's share repurchases of $55 million in Q1 2026 compared to $124.9 million in the same period of the prior year. Treasury stock stood at 28,516,011 shares as of 31 March 2026, valued at cost at $2.517 billion.

In March 2026, TRGP completed a $1.5 billion debt offering comprising 4.35% senior unsecured notes due 2031 and 6.05% senior unsecured notes due 2056, intended to bolster the company's liquidity position. Total liquidity stood at approximately $3.1 billion as of the end of Q1 2026, and TRGP's leverage ratio was 3.6x, within its stated long-term target range of 3.0x to 4.0x. Long-term debt as of 31 March 2026 was $18.43 billion.

Net income attributable to TRGP common shareholders for Q1 2026 was $479.6 million, compared to $200 million in Q1 2025, representing growth of 139.8%. Diluted earnings per share were $2.21 for Q1 2026, up from $0.91 in Q1 2025, an increase of 142.9%. Total revenues for TRGP in Q1 2026 were $4.09 billion, compared to $4.56 billion in Q1 2025, a decline of 10.2% largely due to lower commodity sales.

TRGP closed at $272.54 on 10 June 2026. Market capitalisation is $58.6 billion, with 215 million shares outstanding and institutional ownership at 78.6% of shares. TRGP is a constituent of the S&P 500.