UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-34991 TARGA RESOURCES CORP. (Exact name of registrant as specified in its charter) Delaware 20-3701075 (State or other jur ...

Targa Resources Corp. (NYSE:TRGP) Q2 2023 Results Conference Call August 3, 2023 11:00 AM ET Company Participants Sanjay Lad - Vice President of Finance and Investor Relations Matt Meloy - Chief Executive Officer Jen Kneale - Chief Financial Officer Pat McDonie - President, Gathering and Processing Scott Pryor - President, Logistics and Transportation Bobby Muraro - Chief Commercial Officer Conference Call Participants Theresa Chen - Barclays Jeremy Tonet - JPMorgan Securities Michael Blum - Wells Fargo Nee ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ (713) 584-1000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Tra ...

Targa Resources Corp. (NYSE:TRGP) Q1 2023 Earnings Conference Call May 4, 2023 11:00 AM ET Company Participants Sanjay Lad - Vice President-Finance and Investor Relations Matt Meloy - Chief Executive Officer Jennifer Kneale - Chief Financial Officer Pat McDonie - President-Gathering and Processing Scott Pryor - President-Logistics and Transportation Bobby Muraro - Chief Commercial Officer and General Partner Conference Call Participants Michael Blum - Wells Fargo Brian Reynolds - UBS Jeremy Tonet - JPMorgan ...

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-34991 TARGA RESOURCES CORP. (Exact name of registrant as specified in its charter) Delaware 20-3701075 (State or other jurisdi ...

Financial Data and Key Metrics Changes - Targa Resources reported a record adjusted EBITDA of $2.9 billion for 2022, representing a 41% increase over 2021, with Q4 2022 adjusted EBITDA at $840 million, a 9% sequential increase [4][15] - The consolidated leverage ratio at the end of 2022 was 3.7x, well within the long-term target range [15] - The company expects 2023 adjusted EBITDA to be between $3.5 billion and $3.7 billion, indicating a 24% year-over-year increase based on the midpoint of the range [8][18] Business Line Data and Key Metrics Changes - Record gathering and processing volumes were achieved in the Permian Basin, contributing to the overall growth in adjusted EBITDA [4][15] - The company anticipates significant increases in NGL transportation, fractionation, and export volumes in 2023, driven by higher expected gathering and processing volumes [8][20] Market Data and Key Metrics Changes - The average Permian Basin natural gas inlet volumes for 2023 are projected to increase by about 10% over the average Q4 2022 volumes [19] - The company expects record LPG export volumes in 2023, supported by the completion of projects that enhance propane loading capabilities [20] Company Strategy and Development Direction - Targa Resources aims to maintain a strong investment-grade balance sheet while pursuing organic growth opportunities to create shareholder value [9][11] - The company is focused on expanding its midstream infrastructure to connect U.S. production to domestic and global markets, particularly in cost-advantaged basins like the Permian [6][10] - Targa plans to continue increasing its common dividend, with a projected 43% year-over-year increase for 2023 [11][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum continuing through 2023, citing strong business fundamentals and the critical need for midstream infrastructure [6][8] - The management team highlighted the importance of fee-based margins and the implementation of fee floors to reduce downside exposure to commodity price fluctuations [41][50] Other Important Information - Targa completed the acquisition of the remaining 25% interest in the Grand Prix NGL pipeline for approximately $1.05 billion, enhancing operational flexibility and capital synergies [17] - The company has approximately $2.5 billion of available liquidity, providing flexibility for future investments [17] Q&A Session Summary Question: Insights on 2023 guidance and Permian volume growth - Management noted significant activity across their acreage, with expectations of outperforming average growth in the Permian Basin due to recent acquisitions and increased rig activity [25][26] Question: Capital allocation and future dividend increases - Management emphasized a strong balance sheet and the ability to grow EBITDA while increasing dividends, indicating potential for future significant dividend increases [30][31] Question: Commodity sensitivity and fee floors - Management highlighted the implementation of fee floors across gathering and processing businesses, which significantly reduces downside exposure to commodity price declines [40][41] Question: Outlook on fractionation and demand for LPGs - Management expressed confidence in the fractionation capacity and demand for LPGs, citing upcoming expansions and strong market conditions [46][48] Question: CapEx guidance and future plant needs - Management indicated that while current CapEx guidance includes announced projects, they are evaluating the need for additional plants based on market conditions and volume growth [63][64]

Targa Resources Corp. Fourth Quarter 2022 Earnings Supplement February 22, 2023 Forward Looking Statements Certain statements in this presentation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K TARGA RESOURCES CORP. (Exact name of registrant as specified in its charter) Delaware 20-3701075 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 811 Louisiana Street, Suite 2100, Houston, Texas 77002 (Address of principal executive offices) (Zip Code) (713) 584-1000 (Registrant's telephone number, including area code) Securities registered pursuant to section 12(b) of the Act ...

Targa Resources Corp. (NYSE:TRGP) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Sanjay Lad - Vice President, Finance & Investor Relations Matt Meloy - Chief Executive Officer Pat McDonie - President-Gathering & Processing Scott Pryor - President, Logistics and Transportation Jen Kneale - Chief Financial Officer Robert Muraro - Chief Commercial Officer Conference Call Participants Colton Bean - Tudor Pickering Holt & Co. Jeremy Tonet - JPMorgan Brian Reynolds - UBS Keith ...

Targa Resources Corp. Third Quarter 2022 Earnings Supplement November 3, 2022 Forward Looking Statements Certain statements in this presentation are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or ...