Targa Resources Q4 EPS Boosted by Capital One Financial

Targa Resources Corp. (NYSE:TRGP) – Capital One Financial raised their Q4 2024 earnings per share (EPS) estimates for shares of Targa Resources in a research report issued to clients and investors on Thursday, October 24th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will earn $1.85 per share for the quarter, up from their prior forecast of $1.83. The consensus estimate for Targa Resources’ current full-year earnings is $5.92 per share. Capital One Financial also issued estimates for Targa Resources’ FY2025 earnings at $8.12 EPS.

Several other analysts have also issued reports on the company. Barclays upped their target price on Targa Resources from $155.00 to $171.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Scotiabank boosted their target price on shares of Targa Resources from $128.00 to $142.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Bank of America started coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $152.79.

Targa Resources Trading Down 0.8 %

Targa Resources stock opened at $164.69 on Monday. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 1.29 and a beta of 2.25. The firm has a 50-day moving average of $152.97 and a 200-day moving average of $134.18. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.65 and a quick ratio of 0.53. Targa Resources has a one year low of $81.03 and a one year high of $169.92.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.82%. Targa Resources’s dividend payout ratio (DPR) is presently 63.16%.

Insiders Place Their Bets

In related news, Director Paul W. Chung sold 916 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $136.35, for a total value of $124,896.60. Following the completion of the sale, the director now directly owns 238,591 shares in the company, valued at $32,531,882.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Targa Resources news, CAO Julie H. Boushka sold 1,213 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares in the company, valued at $6,898,969.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul W. Chung sold 916 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $136.35, for a total transaction of $124,896.60. Following the transaction, the director now directly owns 238,591 shares in the company, valued at $32,531,882.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,534 shares of company stock worth $26,815,021 over the last three months. Insiders own 1.44% of the company’s stock.

Institutional Investors Weigh In On Targa Resources

A number of large investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Targa Resources during the second quarter worth about $29,000. DT Investment Partners LLC acquired a new stake in shares of Targa Resources during the 3rd quarter worth approximately $29,000. UMB Bank n.a. boosted its position in shares of Targa Resources by 2,220.0% during the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Whittier Trust Co. bought a new position in Targa Resources in the second quarter valued at approximately $44,000. Finally, Rogco LP acquired a new position in Targa Resources during the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.