{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-25-023713","form_type":"8-K","ticker":"TRGP","cik":"0001389170","company_name":"Targa Resources Corp.","filed_at":"2025-02-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.499743+00:00","generated_at":"2026-05-26T08:26:32.626546+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Targa Resources posts record Q4 adjusted EBITDA $1.12B, 2025 guidance $4.65-$4.85B; dividend raised 33%","bullets":["Q4 adjusted EBITDA $1,122M vs $960M YoY (+17%); net income $351M vs $299.6M.","Full-year 2024 adjusted EBITDA $4,142M vs $3,530M (+17%); record volumes across Permian, NGL, fractionation.","Recommends 33% dividend hike to $1.00/quarter ($4 annualized) effective Q1 2025, payable May 2025.","Announced $1.8B cash repurchase of Badlands preferred equity from Blackstone, closing Q1 2025; expects leverage near target.","2025 outlook: adjusted EBITDA $4.65-$4.85B, growth capex $2.6-$2.8B; new projects Delaware Express, Train 12, LPG export expansion."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-25-023713","json":"https://secwatch.observer/filing/0000950170-25-023713.json","markdown":"https://secwatch.observer/filing/0000950170-25-023713.md","text":"https://secwatch.observer/filing/0000950170-25-023713.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1389170/000095017025023713/0000950170-25-023713-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1389170/000095017025023713/trgp-20250220.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T08:26:32.626546+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}