TRGP · 10-Q · 2026Q3 · Full report
Capital Return Program
Targa Resources Corp. · 2026-11-05 · Importance 54 · Surprise 74 · Contradicted
Targa’s two share repurchase programs each authorize up to $1.0 billion, with $1,186.5 million remaining at September 30, 2026. The company repurchased 716,671 shares for $187.1 million in the first nine months of 2026, compared with 3,538,285 shares for $604.8 million in 2025. In April 2026, Targa increased its quarterly dividend to $1.25 per share, or $5.00 annualized; nine-month dividends declared totaled $755.0 million.
Key facts
- Targa's Board approved a $1.0 billion share repurchase program in July 2024 and a separate $1.0 billion program in August 2025; Targa is not obligated to repurchase a specific amount or number of shares and may discontinue the programs at any time. source
- Targa’s Board approved a $1.0 billion common share repurchase program in July 2024 and a new $1.0 billion program in August 2025; Targa is not obligated to repurchase a specific amount or number of shares and may discontinue either program at any time. source
- Targa declared a $1.25 per-share dividend for the quarter ended September 30, 2026, payable November 17, 2026, with total common dividends declared of $270.0 million. source
- At September 30, 2026, $1,186.5 million remained available under Targa’s share repurchase programs. source
- In April 2026, Targa declared an increase in its quarterly common dividend to $1.25 per share, or $5.00 per share annualized, effective for the first quarter of 2026. source
- In April 2026, Targa increased its common dividend to $1.25 per share, or $5.00 per share annualized, effective for the first quarter of 2026. source
- For the nine months ended September 30, 2026, Targa repurchased 716,671 common shares at a weighted average price of $261.04 per share, for a total net cost of $187.1 million; $1,186.5 million remained under the repurchase programs at September 30, 2026. source
- For the three and nine months ended September 30, 2026, Targa repurchased 180,768 and 716,671 common shares, respectively, at weighted average prices of $287.64 and $261.04 per share, for total net costs of $52.0 million and $187.1 million, respectively. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -1.7% | At September 30, 2026, $1,186.5 million remained available under Targa’s share repurchase programs. |
| cash | negative | committed | -0.8% | Targa declared a $1.25 per-share dividend for the quarter ended September 30, 2026, payable November 17, 2026, with total common dividends… |
| liability | negative | committed | -0.8% | Targa declared a $1.25 per-share dividend for the quarter ended September 30, 2026, payable November 17, 2026, with total common dividends… |
| cash | negative | realized | — | In April 2026, Targa declared an increase in its quarterly common dividend to $1.25 per share, or $5.00 per share annualized, effective… |