secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0000950170-24-015593
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024015593/0000950170-24-015593-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024015593/trgp-20240215.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-015593

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