Targa Resources Corp (NYSE:TRGP) – Equities researchers at US Capital Advisors issued their FY2021 EPS estimates for shares of Targa Resources in a research report issued on Monday, April 22nd. US Capital Advisors analyst J. Carreker anticipates that the pipeline company will earn $0.53 per share for the year.
Targa Resources (NYSE:TRGP) last announced its earnings results on Friday, March 1st. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.71 billion. Targa Resources had a net margin of 0.02% and a return on equity of 2.32%.
Several other analysts have also issued reports on TRGP. JPMorgan Chase & Co. upgraded shares of Targa Resources from a “neutral” rating to an “overweight” rating and cut their target price for the company from $59.00 to $54.00 in a research report on Tuesday, January 8th. UBS Group cut their target price on shares of Targa Resources from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, January 8th. Credit Suisse Group upgraded shares of Targa Resources from a “neutral” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Wednesday, January 9th. Barclays set a $55.00 price target on shares of Targa Resources and gave the company a “buy” rating in a report on Wednesday, January 16th. Finally, Seaport Global Securities raised shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.45.
Shares of NYSE TRGP opened at $40.62 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.51 and a quick ratio of 0.45. The company has a market cap of $9.44 billion, a P/E ratio of 203.10 and a beta of 2.04. Targa Resources has a 12-month low of $33.55 and a 12-month high of $59.21.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Targa Resources by 11.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,276 shares of the pipeline company’s stock worth $2,243,000 after buying an additional 6,281 shares in the last quarter. Marathon Capital Management lifted its holdings in shares of Targa Resources by 16.8% in the fourth quarter. Marathon Capital Management now owns 23,315 shares of the pipeline company’s stock worth $839,000 after buying an additional 3,350 shares in the last quarter. Lavaca Capital LLC purchased a new position in shares of Targa Resources in the fourth quarter worth $36,000. Rehmann Capital Advisory Group lifted its holdings in shares of Targa Resources by 1,106.4% in the third quarter. Rehmann Capital Advisory Group now owns 6,647 shares of the pipeline company’s stock worth $118,000 after buying an additional 6,096 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Targa Resources by 3.6% in the third quarter. Legal & General Group Plc now owns 917,880 shares of the pipeline company’s stock worth $51,687,000 after buying an additional 31,496 shares in the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 8.96%. The ex-dividend date of this dividend is Tuesday, April 30th. Targa Resources’s dividend payout ratio is currently 1,820.00%.
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, 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.