Targa Resources (NYSE:TRGP – Get Free Report) issued its quarterly earnings results on Thursday. The pipeline company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12, Zacks reports. Targa Resources had a net margin of 6.60% and a return on equity of 23.75%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $1.44 EPS.
Targa Resources Price Performance
NYSE TRGP opened at $130.58 on Friday. The firm has a market cap of $28.95 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 0.73 and a beta of 2.27. The stock’s 50-day moving average is $127.48 and its two-hundred day moving average is $112.18. Targa Resources has a fifty-two week low of $77.97 and a fifty-two week high of $139.35. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.70 and a quick ratio of 0.62.
Targa Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, July 31st. Targa Resources’s payout ratio is 61.73%.
Insider Transactions at Targa Resources
Analysts Set New Price Targets
A number of analysts have recently issued reports on TRGP shares. Morgan Stanley increased their target price on Targa Resources from $134.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Royal Bank of Canada raised their price objective on Targa Resources from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Wells Fargo & Company increased their price target on shares of Targa Resources from $109.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Barclays boosted their price objective on shares of Targa Resources from $123.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, July 3rd. Finally, UBS Group increased their target price on shares of Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Targa Resources has a consensus rating of “Moderate Buy” and an average price target of $134.46.
View Our Latest Report on TRGP
Targa Resources Company Profile
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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