Targa Resources Q4 EPS Raised by Capital One Financial

Targa Resources Corp. (NYSE:TRGP - Free Report) - Capital One Financial lifted their Q4 2024 EPS estimates for Targa Resources in a note issued to investors on Wednesday, November 6th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will post earnings per share of $1.97 for the quarter, up from their prior forecast of $1.85. The consensus estimate for Targa Resources' current full-year earnings is $5.96 per share. Capital One Financial also issued estimates for Targa Resources' FY2025 earnings at $8.35 EPS.

A number of other analysts also recently weighed in on the stock. Barclays raised their price target on shares of Targa Resources from $155.00 to $171.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Bank of America initiated coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a "buy" rating and a $182.00 target price for the company. Argus raised shares of Targa Resources to a "strong-buy" rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on Targa Resources from $153.00 to $172.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Truist Financial increased their target price on Targa Resources from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $157.21.

Targa Resources Stock Up 2.4 %

NYSE TRGP traded up $4.55 during mid-day trading on Friday, reaching $192.34. 2,372,563 shares of the company's stock traded hands, compared to its average volume of 1,655,778. The company has a fifty day simple moving average of $158.92 and a 200-day simple moving average of $138.09. Targa Resources has a 1-year low of $81.03 and a 1-year high of $192.63. The company has a market cap of $41.94 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 1.44 and a beta of 2.24. The company has a current ratio of 0.77, a quick ratio of 0.53 and a debt-to-equity ratio of 3.05.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $0.97 earnings per share.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 31st. Targa Resources's dividend payout ratio is currently 54.25%.

Insiders Place Their Bets

In related news, Director Paul W. Chung sold 5,264 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $138.03, for a total value of $726,589.92. Following the completion of the transaction, the director now owns 232,827 shares in the company, valued at $32,137,110.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Paul W. Chung sold 5,264 shares of Targa Resources stock in a transaction on Monday, August 12th. The stock was sold at an average price of $138.03, for a total transaction of $726,589.92. Following the transaction, the director now directly owns 232,827 shares in the company, valued at approximately $32,137,110.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joe Bob Perkins sold 150,000 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the sale, the director now owns 110,470 shares of the company's stock, valued at approximately $17,181,399.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,764 shares of company stock worth $24,421,590. 1.39% of the stock is owned by company insiders.

Institutional Trading of Targa Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in TRGP. Strategic Investment Solutions Inc. IL purchased a new position in Targa Resources in the 2nd quarter worth about $29,000. DT Investment Partners LLC purchased a new stake in shares of Targa Resources in the 3rd quarter valued at approximately $29,000. UMB Bank n.a. boosted its stake in Targa Resources by 2,220.0% in the 2nd quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock worth $30,000 after purchasing an additional 222 shares during the period. Prospera Private Wealth LLC purchased a new position in Targa Resources during the 3rd quarter worth approximately $35,000. Finally, Whittier Trust Co. purchased a new position in Targa Resources during the 2nd quarter worth approximately $44,000. 92.13% of the stock is currently owned by institutional investors.

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.