Equities research analysts expect Targa Resources Corp. (NYSE:TRGP) to report earnings of $0.21 per share for the current quarter, Zacks reports. Three analysts have made estimates for Targa Resources’ earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.30. Targa Resources posted earnings per share of $0.68 during the same quarter last year, which suggests a negative year-over-year growth rate of 69.1%. The company is scheduled to announce its next earnings results on Thursday, May 6th.
On average, analysts expect that Targa Resources will report full year earnings of $0.71 per share for the current year, with EPS estimates ranging from ($0.50) to $1.26. For the next year, analysts forecast that the firm will post earnings of $1.27 per share, with EPS estimates ranging from $0.84 to $1.74. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Targa Resources.
Several research firms recently commented on TRGP. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Targa Resources from $22.00 to $36.00 in a research note on Wednesday, January 13th. Mizuho raised their price objective on Targa Resources from $24.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, January 20th. Royal Bank of Canada raised their price objective on Targa Resources from $26.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, December 7th. Seaport Global Securities raised Targa Resources from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Monday, February 8th. Finally, Smith Barney Citigroup raised their price objective on Targa Resources from $22.00 to $36.00 in a research note on Wednesday, January 13th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $29.32.
Institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc raised its stake in shares of Targa Resources by 154.9% in the fourth quarter. NEXT Financial Group Inc now owns 956 shares of the pipeline company’s stock valued at $25,000 after buying an additional 581 shares during the period. Montag A & Associates Inc. bought a new stake in shares of Targa Resources during the 4th quarter valued at $25,000. Neo Ivy Capital Management raised its stake in shares of Targa Resources by 62.8% during the 3rd quarter. Neo Ivy Capital Management now owns 3,069 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 1,184 shares during the period. Cerebellum GP LLC raised its stake in shares of Targa Resources by 173.4% during the 3rd quarter. Cerebellum GP LLC now owns 3,778 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 2,396 shares during the period. Finally, Crescent Capital Consulting LLC bought a new stake in shares of Targa Resources during the 4th quarter valued at $121,000. Hedge funds and other institutional investors own 84.51% of the company’s stock.
NYSE TRGP traded up $0.73 during trading hours on Tuesday, hitting $31.10. 87,235 shares of the company’s stock were exchanged, compared to its average volume of 1,898,241. The stock has a 50-day simple moving average of $29.49 and a 200 day simple moving average of $22.22. Targa Resources has a 1-year low of $3.66 and a 1-year high of $38.25. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of -3.87 and a beta of 2.99. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.23.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Monday, February 1st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. Targa Resources’s dividend payout ratio (DPR) is currently -49.38%.
Targa Resources Company Profile
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company engages in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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