Targa Resources Corp. (NYSE:TRGP - Free Report) - Equities researchers at Seaport Res Ptn issued their FY2024 EPS estimates for shares of Targa Resources in a note issued to investors on Wednesday, February 5th. Seaport Res Ptn analyst S. Sibal forecasts that the pipeline company will earn $6.13 per share for the year. The consensus estimate for Targa Resources' current full-year earnings is $6.41 per share. Seaport Res Ptn also issued estimates for Targa Resources' Q4 2024 earnings at $1.80 EPS.
Several other brokerages have also recently weighed in on TRGP. Scotiabank assumed coverage on shares of Targa Resources in a research report on Friday, January 10th. They issued a "sector outperform" rating and a $218.00 price target on the stock. US Capital Advisors lowered shares of Targa Resources from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They issued a "buy" rating and a $182.00 price objective for the company. UBS Group boosted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Wells Fargo & Company boosted their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $189.21.
Get Our Latest Research Report on TRGP
Targa Resources Stock Performance
Shares of TRGP traded up $3.63 on Monday, reaching $204.22. The company's stock had a trading volume of 1,166,110 shares, compared to its average volume of 1,428,523. Targa Resources has a 12-month low of $87.92 and a 12-month high of $218.51. The stock has a market capitalization of $44.53 billion, a P/E ratio of 36.93, a PEG ratio of 0.59 and a beta of 2.29. The stock's 50 day simple moving average is $193.53 and its two-hundred day simple moving average is $172.65. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61.
Targa Resources Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Targa Resources's dividend payout ratio (DPR) is 54.25%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in TRGP. DT Investment Partners LLC purchased a new position in shares of Targa Resources during the 3rd quarter worth $29,000. Atala Financial Inc acquired a new stake in shares of Targa Resources during the 4th quarter worth about $31,000. Rakuten Securities Inc. increased its position in Targa Resources by 394.6% during the fourth quarter. Rakuten Securities Inc. now owns 183 shares of the pipeline company's stock worth $33,000 after buying an additional 146 shares during the period. Prospera Private Wealth LLC acquired a new position in Targa Resources during the third quarter worth approximately $35,000. Finally, Mizuho Bank Ltd. acquired a new position in Targa Resources during the fourth quarter worth approximately $36,000. 92.13% of the stock is owned by institutional investors and hedge funds.
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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