FY2025 EPS Estimate for Targa Resources Increased by Analyst

Targa Resources Corp. (NYSE:TRGP) – Capital One Financial upped their FY2025 earnings per share estimates for shares of Targa Resources in a report released on Monday, January 13th. Capital One Financial analyst W. Suki now expects that the pipeline company will post earnings per share of $8.37 for the year, up from their previous estimate of $8.35. The consensus estimate for Targa Resources’ current full-year earnings is $6.26 per share.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company boosted their price target on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America assumed coverage on Targa Resources in a research note on Thursday, October 17th. They set a “buy” rating and a $182.00 price target for the company. Scotiabank assumed coverage on Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price target for the company. Barclays boosted their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday. Finally, US Capital Advisors downgraded Targa Resources from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Price Performance

NYSE TRGP opened at $205.25 on Wednesday. Targa Resources has a one year low of $81.03 and a one year high of $209.87. The stock has a 50-day moving average of $190.21 and a 200 day moving average of $162.26. The company has a market capitalization of $44.76 billion, a price-to-earnings ratio of 37.12, a PEG ratio of 0.73 and a beta of 2.30. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the company earned $0.97 EPS.

Institutional Trading of Targa Resources

Hedge funds have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Targa Resources during the 2nd quarter worth approximately $29,000. DT Investment Partners LLC purchased a new stake in shares of Targa Resources during the 3rd quarter worth approximately $29,000. Prospera Private Wealth LLC purchased a new stake in shares of Targa Resources during the 3rd quarter worth approximately $35,000. Rosenberg Matthew Hamilton raised its holdings in shares of Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after acquiring an additional 89 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Targa Resources by 22.9% during the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after acquiring an additional 89 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider D. Scott Pryor sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the transaction, the insider now directly owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. The trade was a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the sale, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.44% of the stock is owned by insiders.

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.