FY2025 EPS Forecast for Targa Resources Cut by Analyst

Targa Resources Corp. (NYSE:TRGP) – Equities researchers at Capital One Financial reduced their FY2025 EPS estimates for shares of Targa Resources in a research note issued on Monday, February 24th. Capital One Financial analyst W. Suki now forecasts that the pipeline company will earn $7.76 per share for the year, down from their prior forecast of $8.37. The consensus estimate for Targa Resources’ current full-year earnings is $8.15 per share. Capital One Financial also issued estimates for Targa Resources’ FY2026 earnings at $8.92 EPS.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group boosted their price target on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup boosted their target price on shares of Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Barclays upped their price target on Targa Resources from $171.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company increased their price objective on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Targa Resources has an average rating of “Buy” and an average target price of $205.43.

Targa Resources Stock Down 1.5 %

TRGP opened at $195.51 on Wednesday. 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 capitalization of $42.64 billion, a PE ratio of 34.06, a P/E/G ratio of 0.61 and a beta of 2.29. The stock’s fifty day moving average is $197.46 and its 200-day moving average is $177.65. Targa Resources has a one year low of $96.64 and a one year high of $218.51.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%.

Institutional Trading of Targa Resources

Several large investors have recently modified their holdings of TRGP. Norges Bank acquired a new position in Targa Resources during the 4th quarter valued at $505,132,000. GQG Partners LLC acquired a new stake in Targa Resources during the fourth quarter worth $393,335,000. Canada Pension Plan Investment Board raised its stake in shares of Targa Resources by 981.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company’s stock valued at $204,223,000 after buying an additional 1,038,350 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Targa Resources in the fourth quarter worth about $150,372,000. Finally, TD Asset Management Inc. lifted its stake in Targa Resources by 568.7% during the fourth quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company’s stock worth $173,212,000 after purchasing an additional 825,267 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Activity at Targa Resources

In other Targa Resources news, CEO Matthew J. Meloy sold 48,837 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the transaction, the chief executive officer now directly owns 725,628 shares of the company’s stock, valued at $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider D. Scott Pryor sold 35,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $197.30, for a total value of $6,905,500.00. Following the completion of the sale, the insider now directly owns 82,139 shares of the company’s stock, valued at $16,206,024.70. This represents a 29.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,914 shares of company stock valued at $22,613,288. Insiders own 1.39% of the company’s stock.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

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.