Targa Resources Q4 EPS Increased by Capital One Financial

Targa Resources Corp. (NYSE:TRGP - Free Report) - Equities researchers at Capital One Financial upped their Q4 2024 EPS estimates for Targa Resources in a report issued 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 estimate 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.

Several other research analysts also recently weighed in on TRGP. Morgan Stanley lifted their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Truist Financial upped their target price on shares of Targa Resources from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Scotiabank increased their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 17th. Bank of America assumed coverage on shares of Targa Resources in a research report on Thursday, October 17th. They issued a "buy" rating and a $182.00 price target on the stock. Finally, Argus raised shares of Targa Resources to a "strong-buy" rating in a research note on Tuesday, September 3rd. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $157.21.

Targa Resources Stock Performance

NYSE:TRGP traded up $3.03 during mid-day trading on Friday, hitting $190.82. The stock had a trading volume of 538,700 shares, compared to its average volume of 1,647,327. Targa Resources has a 52 week low of $81.03 and a 52 week high of $191.00. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 1.44 and a beta of 2.24. The company has a 50 day simple moving average of $158.01 and a 200-day simple moving average of $137.54. 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 announced its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $0.97 EPS.

Institutional Trading of Targa Resources

A number of large investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Targa Resources during the second quarter worth $29,000. DT Investment Partners LLC acquired a new position in shares of Targa Resources during the third quarter worth approximately $29,000. UMB Bank n.a. boosted its position in shares of Targa Resources by 2,220.0% during the second quarter. UMB Bank n.a. now owns 232 shares of the pipeline company's stock worth $30,000 after buying an additional 222 shares during the period. Whittier Trust Co. acquired a new stake in Targa Resources in the second quarter worth approximately $44,000. Finally, Rogco LP bought a new position in shares of Targa Resources in the first quarter valued at $56,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Robert Muraro sold 2,500 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total transaction of $365,500.00. Following the completion of the transaction, the insider now owns 174,451 shares in the company, valued at $25,504,736.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Targa Resources news, Director Joe Bob Perkins sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $155.53, for a total transaction 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 $17,181,399.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Muraro sold 2,500 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $146.20, for a total value of $365,500.00. Following the transaction, the insider now owns 174,451 shares of the company's stock, valued at approximately $25,504,736.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,764 shares of company stock valued at $24,421,590 in the last ninety days. Corporate insiders own 1.39% of the company's stock.

Targa Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.57%. Targa Resources's payout ratio is 54.25%.

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.