(RTTNews) - Targa Resources (TRGP) reported fourth quarter net income attributable to Targa of $351.0 million compared to $299.6 million for the fourth quarter of 2023. Adjusted EBITDA increased to $1.12 billion from $959.9 million. Total revenues increased to $4.41 billion from $4.24 billion, previous year.
For 2025, Targa estimates full year adjusted EBITDA to be between $4.65 billion and $4.85 billion, with the midpoint of the range representing a 15% increase over full year 2024.
Targa also announced a definitive agreement to repurchase all of the outstanding preferred equity in Targa Badlands LLC from funds managed by Blackstone for approximately $1.8 billion in cash.
For the first quarter of 2025, Targa intends to recommend to Board an increase to quarterly common dividend to $1.00 per common share or $4.00 per common share annualized.
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