Targa Resources (TRGP) reported Q4 net income Thursday of $318.1 million, up from $280.2 million a year earlier.
Three analysts surveyed by FactSet expected $398.5 million.
Revenue for the quarter ended Dec. 31 was $4.41 billion, compared with $4.24 billion a year earlier.
Four analysts surveyed by FactSet expected $4.48 billion.
Targa plans to recommend a 33% increase in its quarterly dividend to $1 per share to its board for Q1, adding if approved, the new dividend would be payable in May.
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