secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000950170-23-017422
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa Q1 adj EBITDA $941M (up 50% YoY); $1.0B buyback authorized
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- Net income $497M vs $88M YoY; adj EBITDA $940.6M vs $625.8M.
- Quarterly dividend raised to $0.50/share ($2.00 annual); paid May 15.
- Board authorized new $1.0B share repurchase program; Q1 bought $52M at $71.82.
- 2023 adj EBITDA guidance unchanged at $3.5-3.7B; growth capex raised to $2.0-2.2B.
- New Train 10 fractionator in Mont Belvieu announced; expected ops Q1 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023017422/0000950170-23-017422-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023017422/trgp-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-017422

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer