Targa Resources (TRGP) Set to Announce Earnings on Thursday

Targa Resources (NYSE:TRGP) is scheduled to be releasing its earnings data before the market opens on Thursday, May 2nd. Analysts expect Targa Resources to post earnings of $1.38 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, analysts expect Targa Resources to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Targa Resources Price Performance

Shares of TRGP opened at $116.94 on Thursday. The stock’s fifty day moving average is $107.48 and its 200-day moving average is $93.51. Targa Resources has a one year low of $67.36 and a one year high of $117.61. The firm has a market capitalization of $26.02 billion, a price-to-earnings ratio of 31.86 and a beta of 2.21. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.66 and a current ratio of 0.79.

Targa Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, April 29th. This represents a $3.00 annualized dividend and a yield of 2.57%. This is a boost from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio (DPR) is currently 54.50%.

Insider Activity at Targa Resources

In related news, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Julie H. Boushka sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.66, for a total value of $244,150.00. Following the transaction, the chief accounting officer now directly owns 71,808 shares of the company’s stock, valued at approximately $7,012,769.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joe Bob Perkins sold 33,405 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $97.67, for a total value of $3,262,666.35. Following the completion of the transaction, the director now directly owns 38,440 shares in the company, valued at $3,754,434.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,966 shares of company stock valued at $7,987,215. Corporate insiders own 1.44% of the company’s stock.

Analyst Ratings Changes

TRGP has been the subject of a number of recent analyst reports. Citigroup increased their price target on Targa Resources from $104.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada increased their price target on Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Stifel Nicolaus increased their price target on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. UBS Group decreased their price target on Targa Resources from $109.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Finally, Mizuho increased their price target on Targa Resources from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.55.

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.