---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-051550"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:14:42.623232+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Targa Q1 adjusted EBITDA record $966.2M; dividend raised 50%; guides FY $3.7-3.9B

## Summary
- Net income $275.2M vs $497.0M YoY; record adj. EBITDA $966.2M (up 2.7% YoY).
- Quarterly dividend raised 50% to $0.75/share ($3.00 annualized); payable May 15.
- Repurchased $123.7M of stock in Q1 at avg $104.26/share; $646.4M remaining.
- Announced new 275 MMcf/d Permian Midland plant (Pembrook II) and 150 MBbl/d Train 11 frac.
- FY 2024 adjusted EBITDA guidance unchanged $3.7-3.9B; growth capex $2.3-2.5B.

## SEC filing metadata
- accession: 0000950170-24-051550
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000095017024051550/0000950170-24-051550-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000095017024051550/trgp-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-051550
- JSON: https://secwatch.observer/filing/0000950170-24-051550.json
- Plain text: https://secwatch.observer/filing/0000950170-24-051550.txt

## Key facts
- Earnings Releases
  Targa Resources Corp. reported first quarter 2024 results: net income $275.2 million. Guidance reaffirmed.
  - Period: first quarter 2024
  - Net income: $275.2 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: First quarter 2024 net income attributable to Targa Resources Corp. was $275.2 million compared to $497.0 million for the first quarter of 2023. The Company reported record adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items (“adjusted EBITDA”) (1) of $966.2 million for the first quarter of 2024 compared to $940.6 million for the first quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1389170/000095017024051550/0000950170-24-051550-index.htm

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