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]

Exhibit 99.1 Targa Resources Corp. Reports Record Fourth Quarter and Full Year 2025 Financial Results and Provides Outlook for Record 2026 HOUSTON – February 19, 2026 - Targa Resources Corp. (NYSE: TRGP) ("TRGP," the "Company" or "Targa") today reported fourth quarter and full year 2025 results. 811 Louisiana, Suite 2100 Houston, TX 77002 713.584.1000 Fourth quarter 2025 net income attributable to Targa Resources Corp. was $545 million compared to $351 million for the fourth quarter of 2024. For the full ye ...

HOUSTON, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported fourth quarter and full year 2025 results. Fourth quarter 2025 net income attributable to Targa Resources Corp. was $545 million compared to $351 million for the fourth quarter of 2024. For the full year 2025, net income attributable to Targa Resources Corp. was $1,923 million compared to $1,312 million for 2024. The Company reported adjusted earnings before interest, income taxes, ...

Investor Presentation February 2026 | TARGA RESOURCES CORP. Forward Looking Statements 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, included in this presentation that address activities, events or developments that the Company expects, believes or anticipates will or may occur in ...

Core Viewpoint - Targa Resources, Inc. (TRGP) is expected to report a significant increase in quarterly earnings and revenues, reflecting positive trends in the company's performance compared to the previous year [1]. Financial Performance - The anticipated earnings per share (EPS) for the upcoming quarter is $2.37, marking a 64.6% increase year-over-year [1]. - Analysts forecast revenues of $5.12 billion, which represents a 16.1% increase compared to the same period last year [1]. - Over the past 30 days, the consensus EPS estimate has been revised upward by 1.6%, indicating a positive reassessment by analysts [1]. Key Metrics Forecast - The consensus estimate for 'Gathering and Processing - NGL sales per day' is projected at 922.53 thousand barrels, up from 582.00 thousand barrels a year ago [4]. - 'Gathering and Processing - Gross NGL production - Coastal' is expected to reach 35.28 thousand barrels per day, slightly down from 36.00 thousand barrels reported last year [4]. - 'Gathering and Processing - Condensate sales per day' is estimated at 19.56 thousand barrels, compared to 19.80 thousand barrels in the same quarter last year [5]. - 'Logistics and Marketing - NGL sales' is projected to be 1,260.49 thousand barrels per day, up from 1,227.50 thousand barrels a year ago [5]. - 'Logistics and Marketing - Export volumes' are expected to be 423.88 thousand barrels per day, down from 457.10 thousand barrels last year [6]. - 'Logistics and Marketing - Fractionation volumes' is forecasted at 1,135.85 thousand barrels per day, an increase from 1,089.50 thousand barrels last year [6]. - 'Gathering and Processing - Total Gross NGL production' is expected to reach 1,581.01 thousand barrels per day, significantly up from 995.80 thousand barrels a year ago [7]. Market Performance - Over the past month, shares of Targa Resources have increased by 20.8%, contrasting with a -1.7% change in the Zacks S&P 500 composite [10]. - Currently, TRGP holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [10].

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Core Insights - Targa Resources Corp. (NYSE:TRGP) is recognized as one of the best performing stocks in the S&P 500 over the past five years [1] Analyst Updates - Targa Resources Corp. shares are trading near consensus valuation levels, with a consensus price target of $213.00 indicating a 3.60% upside as of February 6, 2026. Over 90% of analysts covering the company remain bullish, suggesting incremental revisions rather than broad re-ratings [2] - Morgan Stanley raised its price target for Targa Resources Corp. to $266 from $264 on January 28, 2026, while maintaining an 'Overweight' rating, citing a strong start to the earnings season and the energy sector's contribution to S&P 500 performance despite stable commodity prices [3] - Scotiabank increased its target for Targa Resources Corp. from $199 to $224 on January 16, 2026, while keeping its 'Outperform' rating, attributing the increase to favorable conditions from LNG exports and rising power demand, which are expected to create more opportunities and an upward bias in long-term estimates [4] Company Overview - Targa Resources Corp. is a midstream energy company that provides natural gas gathering, processing, transportation, and NGL logistics services to support U.S. production, power demand, and LNG export growth [5]

Core Viewpoint - Targa Resources Corp. (TRGP) has a market capitalization of $46.6 billion and operates a diversified portfolio of natural gas, NGL, and crude oil assets across North America, providing integrated services in energy commodities [1] Performance Summary - Over the past 52 weeks, TRGP stock has increased by 7.7%, underperforming the S&P 500 Index, which rose by 14.9%. However, on a year-to-date basis, TRGP shares are up 18.6%, significantly outperforming the S&P 500's 1.8% gain [2] - TRGP stock has also underperformed compared to the State Street Energy Select Sector SPDR ETF (XLE), which returned 19.7% over the same period [3] Financial Highlights - On November 5, 2025, Targa Resources reported a record Q3 2025 adjusted EBITDA of $1.27 billion, reflecting a 19% year-over-year increase, driven by record volumes in Permian, NGL transportation, and fractionation [5] - The company raised its full-year 2025 adjusted EBITDA outlook to the upper end of the range, estimating between $4.65 billion and $4.85 billion, and announced several growth projects, including new gas plants and pipeline expansions [5] Earnings Expectations - For the fiscal year ending December 2025, analysts project TRGP's EPS to increase by 45.8% year-over-year to $8.37. The company's earnings surprise history shows mixed results, beating consensus estimates once in the last four quarters while missing three times [6] - Among 22 analysts covering TRGP, the consensus rating is a "Strong Buy," with 18 "Strong Buy" ratings, one "Moderate Buy," and three "Holds" [6] Analyst Ratings - Morgan Stanley raised its price target for Targa Resources to $266, maintaining an "Overweight" rating. The stock is currently trading above the mean price target of $210.91, with the highest price target of $266 indicating a potential upside of 21.5% from current levels [7]