secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0000950170-24-121056
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 Q3 adjusted EBITDA $1.07B; guides 2024 above top end $4.05B; plans 33% dividend increase to $4.00
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- Net income $387.4M vs $220M YoY; adjusted EBITDA $1,069.7M record.
- Expects 2024 adjusted EBITDA above $3.95-4.05B range (guidance raise).
- Plans to recommend $4.00 annual dividend for 2025, a 33% increase from $3.00.
- Completed Daytona NGL expansion; new plants in Permian; credit upgrades to BBB/Baa2.
- Repurchased $168M of stock in Q3; $1.1B remaining under buyback programs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024121056/0000950170-24-121056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017024121056/trgp-20241105.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-121056

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