Targa Resources Corp

**Record Financial Performance:** - Targa Resources reported record adjusted EBITDA of $1.07 billion for Q3 2024, a 9% increase from Q2 2024. This reflects a strong year-to-date performance, with expectations for exceeding previous guidance for adjusted EBITDA in the full year 2024 by over $250 million, forecasting more than $500 million year-over-year growth.

**Permian Growth and Capital Projects:** - The company is experiencing significant growth in the Permian Basin, with natural gas inlet volumes averaging a record 6 billion cubic feet per day in Q3 2024, an 18% increase year-over-year. This has led to an acceleration in the timing of new processing plants, with plans to advance two new plants in the Permian in response to higher anticipated growth.

**Dividend and Shareholder Returns:** - Targa plans to recommend to its board a 33% increase in the 2025 annual common dividend to $4 per share, reflecting confidence in financial performance and growth. The company has repurchased nearly $650 million of common shares year-to-date, with plans to return 40% to 50% of adjusted cash flow from operations to shareholders in 2024.