Analysts Expect Targa Resources Corp (TRGP) to Post $0.11 EPS
Analysts expect Targa Resources Corp (NYSE:TRGP) to report $0.11 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Targa Resources’ earnings, with estimates ranging from ($0.04) to $0.24. Targa Resources reported earnings per share of ($0.07) during the same quarter last year, which suggests a positive year over year growth rate of 257.1%. The firm is expected to issue its next quarterly earnings report on Thursday, February 21st.
According to Zacks, analysts expect that Targa Resources will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.12 to $0.67. For the next fiscal year, analysts expect that the business will report earnings of $0.54 per share, with EPS estimates ranging from $0.32 to $0.97. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Targa Resources.
Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, November 8th. The pipeline company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Targa Resources had a net margin of 3.42% and a return on equity of 1.31%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.67 billion.
In other Targa Resources news, Director Chris Tong acquired 2,200 shares of the business’s stock in a transaction on Friday, November 16th. The shares were acquired at an average price of $47.00 per share, for a total transaction of $103,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.76% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TRGP. Aperio Group LLC raised its position in shares of Targa Resources by 20.1% in the 2nd quarter. Aperio Group LLC now owns 119,414 shares of the pipeline company’s stock valued at $5,910,000 after purchasing an additional 19,956 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Targa Resources by 16.5% in the 2nd quarter. Alps Advisors Inc. now owns 148,776 shares of the pipeline company’s stock valued at $7,204,000 after purchasing an additional 21,090 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Targa Resources by 19.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,138 shares of the pipeline company’s stock valued at $650,000 after purchasing an additional 2,151 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Targa Resources by 17.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,805 shares of the pipeline company’s stock valued at $2,613,000 after purchasing an additional 7,790 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Targa Resources by 6.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 681,271 shares of the pipeline company’s stock valued at $33,716,000 after purchasing an additional 39,643 shares in the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.
Shares of NYSE TRGP traded up $0.91 during midday trading on Friday, hitting $44.55. 3,219,677 shares of the company traded hands, compared to its average volume of 2,038,192. Targa Resources has a 12-month low of $41.75 and a 12-month high of $59.21. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.68 and a quick ratio of 0.61. The stock has a market capitalization of $10.36 billion, a P/E ratio of -103.60 and a beta of 1.91.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date was Tuesday, October 30th. Targa Resources’s dividend payout ratio (DPR) is presently -846.51%.
Targa Resources Company Profile
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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