Targa Resources (TRGP) Q4-25 earnings: Record EBITDA, $1B CapEx blitz & a 5-year tax pass

In Q4, Targa Resources hit record earnings despite negative natural gas prices, but a massive ongoing construction bill triggered an abrupt aftermarket sell-off.In ~10 minutes:• Why Adjusted EBITDA reached a record $1.34B.• The massive $1.01B quarter for growth CapEx. 🏗️• How new legislation wipes out cash taxes for five years.• Raising the baseline pipeline and plant spending to $2.5B annually.• Recommending a 25% dividend bump to pacify investors.Targa is basically building a Fortune 500 company inside its own backlog. By deliberately accelerating spending to secure long-lead supply chain items, they are prioritizing physical dominance in the Permian over immediate free cash flow generation. Targa Resources (TRGP) | Q4 FY2025AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.