secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0000950170-23-057723
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023057723/0000950170-23-057723-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017023057723/trgp-20231102.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-057723

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