---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-015593"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2024-02-15T23:59:59+00:00"
generated_at: "2026-06-06T00:58:39.976111+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Targa Reports Record 2023 Adj. EBITDA $3.53B; Guides 2024 $3.7-3.9B, Dividend to $3.00

## Summary
- Net income Q4 $299.6M (vs $318M); full year net income record $1,345.9M (vs $1,195.5M).
- Full year adj. EBITDA $3,530M (+22% YoY); Q4 adj. EBITDA $959.9M (+14% sequentially).
- Record 2023 share repurchases $373.7M; repurchase authorization remaining $770.1M.
- Recommending dividend increase to $3.00/share annualized (from $2.00), payable Q1 2024 in May.
- 2024 adj. EBITDA guidance $3.7-3.9B; 2025 net growth capex ~$1.4B, expecting significant free cash flow.

## SEC filing metadata
- accession: 0000950170-24-015593
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2024-02-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017024015593/0000950170-24-015593-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017024015593/trgp-20240215.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-015593
- JSON: https://secwatch.observer/filing/0000950170-24-015593.json
- Plain text: https://secwatch.observer/filing/0000950170-24-015593.txt

## Key facts
- Earnings Releases
  Targa Resources Corp. reported fourth quarter and full year 2023 results: net income Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for t. Guidance initiated.
  - Period: fourth quarter and full year 2023
  - Net income: Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for t
  - Guidance: initiated
  - Result: reported results
  source text: Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported fourth quarter and full year 2023 results. Fourth quarter 2023 net income attributable to Targa Resources Corp. was $299.6 million compared to $318.0 million for the fourth quarter of 2022. For full year 2023, net income attributable to Targa Resources Corp. was a record $1,345.9 million compared to $1,195.5 million for 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017024015593/0000950170-24-015593-index.htm

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