secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2025-05-01T23:59:59+00:00
Accession:  0000950170-25-061423
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa posts record Q1 adjusted EBITDA of $1.18B, up 22% YoY; dividend increased 33%
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- Record Q1 adjusted EBITDA $1,178.5M vs $966.2M YoY (+22%); net income $270.5M vs $275.2M.
- Annualized dividend raised 33% to $4.00/sh; Q1 dividend $1.00/sh payable May 15, 2025.
- Repurchased $214M in common shares through April; $890.5M remaining under buyback program.
- FY2025 adjusted EBITDA guidance unchanged at $4.65B-$4.85B; net growth capex $2.6B-$2.8B.
- Issued $2.0B in senior notes (5.55% due 2035, 6.125% due 2055) to fund Badlands buyout and general purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000095017025061423/0000950170-25-061423-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000095017025061423/trgp-20250501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-061423

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