---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-057723"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-08T23:46:24.967163+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Targa Q3 adjusted EBITDA $840M; plans 50% dividend increase to $3.00 for 2024

## Summary
- Q3 net income $220M vs $193M YoY; adjusted EBITDA $840.2M (+6% sequentially).
- Record NGL transportation volumes; completed 1M bbl/month LPG export expansion at Galena Park and 275 MMcf/d Greenwood plant.
- Repurchased $132M of common stock in Q3; $810.7M remaining under $1B program.
- 2023 adjusted EBITDA guidance $3.5B-$3.7B (trending lower); net growth capex $2.0B-$2.2B (trending higher).
- Plans to recommend 50% dividend increase to $3.00 annualized for 2024 (from $2.00).

## SEC filing metadata
- accession: 0000950170-23-057723
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017023057723/0000950170-23-057723-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017023057723/trgp-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-057723
- JSON: https://secwatch.observer/filing/0000950170-23-057723.json
- Plain text: https://secwatch.observer/filing/0000950170-23-057723.txt

## Key facts
- Earnings Releases
  Targa Resources Corp. reported third quarter 2023 results: net income $220.0 million. Guidance reaffirmed.
  - Period: third quarter 2023
  - Net income: $220.0 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Third quarter 2023 net income attributable to Targa Resources Corp. was $220.0 million compared to $193.1 million for the third quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017023057723/0000950170-23-057723-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.