Wall Street brokerages expect that Targa Resources Corp. (NYSE:TRGP – Get Rating) will report earnings per share of $1.22 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Targa Resources’ earnings, with the lowest EPS estimate coming in at $0.74 and the highest estimate coming in at $2.61. Targa Resources posted earnings per share of $0.15 in the same quarter last year, which suggests a positive year over year growth rate of 713.3%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Targa Resources will report full year earnings of $4.22 per share for the current year, with EPS estimates ranging from $2.75 to $5.71. For the next year, analysts expect that the business will report earnings of $4.87 per share, with EPS estimates ranging from $3.94 to $5.68. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Targa Resources.
Targa Resources (NYSE:TRGP – Get Rating) last posted its earnings results on Thursday, May 5th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.69). Targa Resources had a net margin of 0.42% and a return on equity of 9.74%. During the same period last year, the firm earned $0.53 earnings per share.
In other Targa Resources news, Director Rene R. Joyce sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $67.86, for a total value of $1,017,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Muraro sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $80.10, for a total value of $801,000.00. Following the completion of the sale, the insider now owns 186,947 shares in the company, valued at approximately $14,974,454.70. The disclosure for this sale can be found here. Insiders have sold 55,094 shares of company stock worth $4,176,872 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Targa Resources by 13.4% in the first quarter. FMR LLC now owns 1,192,808 shares of the pipeline company’s stock valued at $49,561,000 after purchasing an additional 140,814 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Targa Resources by 12.5% in the third quarter. Commonwealth Equity Services LLC now owns 7,427 shares of the pipeline company’s stock valued at $365,000 after purchasing an additional 824 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Targa Resources by 5.7% in the third quarter. Advisory Services Network LLC now owns 9,223 shares of the pipeline company’s stock valued at $454,000 after purchasing an additional 496 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Targa Resources by 2.4% in the third quarter. Russell Investments Group Ltd. now owns 654,023 shares of the pipeline company’s stock valued at $32,183,000 after purchasing an additional 15,095 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Targa Resources by 12.9% in the third quarter. Mackenzie Financial Corp now owns 846,267 shares of the pipeline company’s stock valued at $41,645,000 after purchasing an additional 96,391 shares during the last quarter. Hedge funds and other institutional investors own 91.93% of the company’s stock.
NYSE:TRGP traded up $0.77 on Friday, reaching $75.47. The company’s stock had a trading volume of 3,099,328 shares, compared to its average volume of 1,398,606. Targa Resources has a 1-year low of $36.25 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.70 and a current ratio of 0.77. The firm has a market cap of $17.24 billion, a PE ratio of -130.12 and a beta of 2.52. The business’s 50-day moving average price is $73.42 and its two-hundred day moving average price is $62.08.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 29th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.86%. Targa Resources’s payout ratio is presently -241.38%.
Targa Resources Company Profile (Get Rating)
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 Transportation. 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; and gathering, purchasing, storing, terminaling, and selling crude oil.
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