secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001193125-26-210165
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa reports record Q1 adjusted EBITDA of $1.4B, raises FY2026 guidance to $5.7-5.9B
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- Q1 net income $480M vs $271M YoY; adjusted EBITDA $1,403M (+19% YoY).
- Full-year 2026 adjusted EBITDA guidance raised to $5.7-5.9B (midpoint +17% YoY).
- Quarterly dividend increased 25% to $1.25/share ($5.00 annualized), payable May 15.
- Announced two new Permian processing plants (Roadrunner III, Copperhead II), starting Q1 2028.
- Repurchased 227,801 shares at ~$241.43 for $55M in Q1; $1.32B remaining under program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000119312526210165/0001193125-26-210165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000119312526210165/trgp-20260507.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-210165

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