Overview
- TPL’s board increased the quarterly cash dividend to $0.60 per share, payable March 16 to shareholders of record on March 2.
- Shares surged 50.5% in February, according to S&P Global Market Intelligence, with gains tied to higher oil prices and growing enthusiasm for an AI and power build-out narrative.
- Management detailed rights from its December investment in Bolt, including a proposed 10 GW data-center build on TPL land, the option to acquire additional Bolt equity, and first refusal to supply water.
- KeyBanc raised its price target to $639 and kept an Overweight rating, citing strong water fundamentals and viewing Permian power and data-center projects as a timing question within a 30+ GW outlook.
- 2026 capital spending is guided to $65–$75 million focused on water management, desalination, and groundwork for multi‑gigawatt energy campuses.