secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2025-02-20T23:59:59+00:00
Accession:  0000950170-25-023713
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa Resources posts record Q4 adjusted EBITDA $1.12B, 2025 guidance $4.65-$4.85B; dividend raised 33%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017025023713/0000950170-25-023713-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017025023713/trgp-20250220.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-023713

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