Targa Resources (TRGP) Scheduled to Post Earnings on Tuesday

Targa Resources (NYSE:TRGP) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period last year, the business earned $1.44 earnings per share. On average, analysts expect Targa Resources to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Targa Resources Stock Performance

Targa Resources stock opened at $165.27 on Friday. Targa Resources has a twelve month low of $81.03 and a twelve month high of $169.92. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 2.98. The firm has a fifty day simple moving average of $155.23 and a two-hundred day simple moving average of $135.82. The company has a market capitalization of $36.21 billion, a PE ratio of 34.79, a P/E/G ratio of 1.29 and a beta of 2.24.

Targa Resources Dividend Announcement

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

Insider Activity

In other news, Director Paul W. Chung sold 916 shares of Targa Resources stock in a transaction dated 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 of the company’s stock, valued at $32,531,882.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul W. Chung sold 916 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 238,591 shares of the company’s stock, valued at $32,531,882.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total transaction of $365,500.00. Following the sale, the insider now directly owns 174,451 shares of the company’s stock, valued at approximately $25,504,736.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,534 shares of company stock valued at $26,815,021 in the last 90 days. Company insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Targa Resources from $155.00 to $171.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank boosted their target price on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada raised their price objective on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Finally, Bank of America began coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 price target for the company. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources currently has a consensus rating of “Buy” and an average target price of $152.79.

Targa Resources Company Profile

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.