$1.22 Earnings Per Share Expected for Targa Resources Corp. (NYSE:TRGP) This Quarter

Analysts predict that Targa Resources Corp. (NYSE:TRGPGet Rating) will announce earnings per share (EPS) of $1.19 for the current quarter, Zacks reports. Three analysts have made estimates for Targa Resources’ earnings. The lowest EPS estimate is $0.57 and the highest is $2.61. Targa Resources reported earnings of $0.15 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 693.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Targa Resources will report full-year earnings of $3.80 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $5.71. For the next year, analysts forecast that the company will post earnings of $4.84 per share, with EPS estimates ranging from $3.94 to $5.68. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Targa Resources.

Targa Resources (NYSE:TRGPGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The pipeline company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.69). Targa Resources had a positive return on equity of 8.24% and a negative net margin of 0.22%. During the same period in the previous year, the business posted $0.53 EPS.

TRGP has been the subject of a number of recent analyst reports. TheStreet downgraded Targa Resources from a “b-” rating to a “c” rating in a research report on Thursday, March 3rd. Evercore ISI raised Targa Resources from an “in-line” rating to an “outperform” rating and set a $62.00 price objective for the company in a research report on Monday, February 7th. Morgan Stanley raised their price objective on Targa Resources from $74.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Barclays raised their price objective on Targa Resources from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, January 20th. Finally, Raymond James raised their price objective on Targa Resources from $80.00 to $92.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $73.25.

In other news, Director Joe Bob Perkins sold 2,150 shares of the business’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $78.01, for a total transaction of $167,721.50. Following the completion of the transaction, the director now directly owns 213,868 shares of the company’s stock, valued at $16,683,842.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Muraro sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $80.10, for a total value of $801,000.00. Following the transaction, the insider now directly owns 186,947 shares of the company’s stock, valued at $14,974,454.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,094 shares of company stock valued at $4,176,872. 1.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Herold Advisors Inc. purchased a new stake in Targa Resources during the first quarter worth approximately $29,000. Allworth Financial LP lifted its stake in Targa Resources by 403.3% during the first quarter. Allworth Financial LP now owns 453 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 363 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Targa Resources during the first quarter worth approximately $36,000. Zullo Investment Group Inc. purchased a new stake in Targa Resources during the fourth quarter worth approximately $25,000. Finally, Capital Advisors Ltd. LLC purchased a new stake in Targa Resources during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 91.93% of the company’s stock.

Shares of NYSE TRGP traded up $2.95 during trading on Friday, hitting $71.28. 2,197,112 shares of the company were exchanged, compared to its average volume of 1,773,848. Targa Resources has a 12-month low of $37.13 and a 12-month high of $81.50. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.62 and a current ratio of 0.65. The company has a fifty day moving average price of $73.52 and a 200-day moving average price of $62.57. The firm has a market capitalization of $16.25 billion, a PE ratio of -122.89 and a beta of 2.52.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 29th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.96%. Targa Resources’s dividend payout ratio is currently -241.38%.

About Targa Resources (Get Rating)

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

See Also

Get a free copy of the Zacks research report on Targa Resources (TRGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Targa Resources (NYSE:TRGP)

Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.