Targa Resources (TRGP) Set to Announce Quarterly Earnings on Thursday

Targa Resources (NYSE:TRGP) will release its earnings data before the market opens on Thursday, August 1st. Analysts expect Targa Resources to post earnings of $1.16 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, May 2nd. The pipeline company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a return on equity of 24.41% and a net margin of 6.86%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. On average, analysts expect Targa Resources to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Targa Resources Trading Up 0.8 %

TRGP opened at $134.14 on Wednesday. Targa Resources has a twelve month low of $77.97 and a twelve month high of $138.28. The company has a fifty day moving average of $126.30 and a 200-day moving average of $111.52. The stock has a market cap of $29.74 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 0.70 and a beta of 2.27. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.24%. Targa Resources’s dividend payout ratio (DPR) is currently 61.73%.

Insider Activity at Targa Resources

In other Targa Resources news, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total transaction of $304,083.00. Following the completion of the sale, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at approximately $6,466,764. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Targa Resources news, Director Ershel C. Redd, Jr. sold 3,000 shares of Targa Resources stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $113.10, for a total transaction of $339,300.00. Following the transaction, the director now owns 28,223 shares of the company’s stock, valued at approximately $3,192,021.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Julie H. Boushka sold 2,691 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total value of $304,083.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,228 shares of the company’s stock, valued at $6,466,764. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,691 shares of company stock valued at $6,197,632. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TRGP. The Goldman Sachs Group boosted their price objective on Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley increased their price target on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Scotiabank lifted their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 17th. Truist Financial increased their target price on shares of Targa Resources from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Stifel Nicolaus lifted their price target on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.15.

About Targa Resources

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.