secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000950170-24-088922
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa Resources posts record Q2 adjusted EBITDA of $984M, raises 2024 guidance, authorizes new $1B buyback
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- Record Q2 adjusted EBITDA $984.3M (up 25% YoY); net income $298.5M vs $329.3M.
- 2024 adjusted EBITDA guidance raised to $3.95-4.05B (+5%); growth capex increased to ~$2.7B.
- New $1.0B share repurchase program approved; Q2 repurchases $355.1M at $118.91 avg price.
- Announced two new 275 MMcf/d Permian gas plants (Bull Moose II, East Pembrook) and 17.5% stake in Blackcomb pipeline.
- Quarterly dividend $0.75/share ($3.00 annualized) payable Aug 15, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024088922/0000950170-24-088922-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024088922/trgp-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-088922

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