Targa Resources Corp. (NYSE:TRGP - Free Report) - Analysts at Capital One Financial lifted their Q1 2025 earnings per share (EPS) estimates for shares of Targa Resources in a report issued on Thursday, April 10th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will earn $1.93 per share for the quarter, up from their previous estimate of $1.89. The consensus estimate for Targa Resources' current full-year earnings is $8.15 per share. Capital One Financial also issued estimates for Targa Resources' Q2 2025 earnings at $1.73 EPS, Q3 2025 earnings at $1.92 EPS, Q4 2025 earnings at $2.07 EPS and FY2025 earnings at $7.65 EPS.
A number of other brokerages have also recently commented on TRGP. Barclays dropped their price target on Targa Resources from $211.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lifted their price target on Targa Resources from $202.00 to $244.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Scotiabank lowered their price objective on Targa Resources from $218.00 to $210.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Mizuho raised their price objective on shares of Targa Resources from $208.00 to $226.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Citigroup boosted their target price on shares of Targa Resources from $218.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of "Buy" and an average price target of $210.64.
View Our Latest Report on TRGP
Targa Resources Price Performance
NYSE:TRGP traded up $1.80 on Monday, hitting $174.48. The company had a trading volume of 1,975,788 shares, compared to its average volume of 1,724,324. Targa Resources has a 52 week low of $110.09 and a 52 week high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $37.97 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 0.61 and a beta of 1.75. The firm has a 50 day moving average of $188.84 and a two-hundred day moving average of $187.35.
Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, February 20th. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.46). The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.48 billion. Targa Resources had a net margin of 7.81% and a return on equity of 28.67%.
Targa Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, April 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.28%. Targa Resources's payout ratio is currently 69.69%.
Insider Buying and Selling at Targa Resources
In other news, insider Jennifer R. Kneale sold 29,887 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total transaction of $5,750,856.54. Following the transaction, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. This represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew J. Meloy sold 48,837 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $195.08, for a total value of $9,527,121.96. Following the completion of the sale, the chief executive officer now owns 725,628 shares of the company's stock, valued at approximately $141,555,510.24. This represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,914 shares of company stock valued at $22,613,288. 1.34% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Targa Resources
A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Targa Resources during the 4th quarter valued at $505,132,000. GQG Partners LLC bought a new stake in shares of Targa Resources during the fourth quarter worth about $393,335,000. Canada Pension Plan Investment Board raised its holdings in shares of Targa Resources by 981.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company's stock worth $204,223,000 after acquiring an additional 1,038,350 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Targa Resources by 22,699.0% in the first quarter. GAMMA Investing LLC now owns 928,377 shares of the pipeline company's stock valued at $186,112,000 after purchasing an additional 924,305 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Targa Resources during the 4th quarter valued at $150,372,000. 92.13% of the stock is currently owned by institutional investors.
About Targa Resources
(
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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.
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