secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000950170-23-037533
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa Q2 2023 adj EBITDA $789.1M up 18% YoY; net income $329.3M; repurchased $149M in shares
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- Adjusted EBITDA $789.1M vs $666.4M YoY (+18%); net income $329.3M vs $596.4M YoY (includes $435.9M gain in 2022).
- Record Permian natural gas inlet, NGL pipeline transportation and fractionation volumes in Q2.
- Repurchased $149M of common stock in Q2 at weighted avg $71.37; $942.7M remains under $1B program.
- Declared Q2 dividend $0.50/share ($2.00 annualized); paid Aug 15, 2023.
- Maintained 2023 adj EBITDA guidance $3.5B-$3.7B and capex $2.0B-$2.2B; announced two new Permian gas plants (Greenwood II, Bull Moose) for 2024-2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023037533/0000950170-23-037533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023037533/trgp-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-037533

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