FY2025 EPS Estimates for Targa Resources Lifted by Analyst

Targa Resources Corp. (NYSE:TRGP - Free Report) - Analysts at Capital One Financial upped their FY2025 earnings per share estimates for shares of Targa Resources in a research note issued to investors on Monday, January 13th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will post earnings of $8.37 per share for the year, up from their previous estimate of $8.35. The consensus estimate for Targa Resources' current full-year earnings is $6.26 per share.

TRGP has been the subject of several other research reports. Barclays lifted their price objective on shares of Targa Resources from $171.00 to $204.00 and gave the stock an "overweight" rating in a research note on Monday. Morgan Stanley boosted their price target on Targa Resources from $173.00 to $202.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Truist Financial lowered their price objective on Targa Resources from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. Scotiabank started coverage on Targa Resources in a research report on Friday, January 10th. They set a "sector outperform" rating and a $218.00 target price for the company. Finally, US Capital Advisors lowered Targa Resources from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $189.21.

Targa Resources Stock Performance

Shares of Targa Resources stock traded up $3.87 during trading on Wednesday, reaching $205.25. The company's stock had a trading volume of 1,444,744 shares, compared to its average volume of 1,481,783. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The business's 50-day moving average price is $190.21 and its 200-day moving average price is $162.26. Targa Resources has a 52 week low of $81.03 and a 52 week high of $209.87. The firm has a market cap of $44.76 billion, a PE ratio of 37.12, a P/E/G ratio of 0.73 and a beta of 2.30.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in Targa Resources in the 2nd quarter valued at approximately $29,000. DT Investment Partners LLC acquired a new stake in Targa Resources in the third quarter valued at $29,000. Prospera Private Wealth LLC bought a new position in Targa Resources during the 3rd quarter worth $35,000. Rosenberg Matthew Hamilton lifted its holdings in Targa Resources by 49.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company's stock worth $48,000 after buying an additional 89 shares during the period. Finally, Huntington National Bank grew its position in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company's stock valued at $71,000 after buying an additional 89 shares during the last quarter. Institutional investors own 92.13% of the company's stock.

Insider Activity

In other news, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at approximately $6,703,175.82. This represents a 8.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider D. Scott Pryor sold 30,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now owns 82,979 shares in the company, valued at $15,793,393.07. This represents a 26.55 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by corporate insiders.

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.