Targa Resources (NYSE:TRGP) Posts Quarterly Earnings Results, Misses Estimates By $0.46 EPS

Targa Resources (NYSE:TRGP) announced its quarterly earnings results on Thursday. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46), Zacks reports. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $200.89 on Friday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The company has a market cap of $43.81 billion, a PE ratio of 35.00, a P/E/G ratio of 0.61 and a beta of 2.29. The business has a 50-day simple moving average of $195.58 and a two-hundred day simple moving average of $175.41. Targa Resources has a fifty-two week low of $95.88 and a fifty-two week high of $218.51.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio is presently 52.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Targa Resources from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Barclays raised their price objective on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Stifel Nicolaus raised their price objective on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Scotiabank assumed coverage on Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective on the stock. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $203.77.

About Targa Resources

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved 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; and gathering, storing, terminaling, purchasing, and selling crude oil.