Brokers Issue Forecasts for Targa Resources FY2025 Earnings

Targa Resources, Inc. (NYSE:TRGP) – Analysts at US Capital Advisors raised their FY2025 earnings estimates for Targa Resources in a report released on Tuesday, October 28th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn $8.96 per share for the year, up from their prior forecast of $7.13. The consensus estimate for Targa Resources’ current full-year earnings is $8.15 per share.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.92. The firm had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%.

Other analysts have also issued reports about the company. Scotiabank reaffirmed an “outperform” rating on shares of Targa Resources in a report on Thursday, August 14th. BMO Capital Markets assumed coverage on Targa Resources in a research note on Friday, September 19th. They set an “outperform” rating and a $185.00 price objective for the company. TD Securities started coverage on Targa Resources in a research note on Monday, July 7th. They set a “hold” rating for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Targa Resources in a research report on Wednesday, October 8th. Finally, Mizuho dropped their price target on Targa Resources from $212.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.50.

Targa Resources Price Performance

Shares of TRGP opened at $151.39 on Thursday. The business’s 50-day moving average is $161.55 and its two-hundred day moving average is $165.11. The company has a market capitalization of $32.58 billion, a P/E ratio of 21.41, a P/E/G ratio of 0.91 and a beta of 1.12. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69. Targa Resources has a fifty-two week low of $144.14 and a fifty-two week high of $218.51.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a $1.00 dividend. The ex-dividend date is Friday, October 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Targa Resources’s dividend payout ratio (DPR) is 56.58%.

Hedge Funds Weigh In On Targa Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. iA Global Asset Management Inc. lifted its stake in Targa Resources by 50.7% during the third quarter. iA Global Asset Management Inc. now owns 21,358 shares of the pipeline company’s stock worth $3,578,000 after purchasing an additional 7,189 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in Targa Resources by 23.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 1,818 shares of the pipeline company’s stock valued at $305,000 after acquiring an additional 346 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Targa Resources in the third quarter valued at $1,389,000. Inscription Capital LLC lifted its holdings in shares of Targa Resources by 3.1% in the 3rd quarter. Inscription Capital LLC now owns 12,001 shares of the pipeline company’s stock valued at $2,011,000 after purchasing an additional 358 shares during the last quarter. Finally, Americana Partners LLC lifted its holdings in shares of Targa Resources by 1.7% in the 3rd quarter. Americana Partners LLC now owns 74,098 shares of the pipeline company’s stock valued at $12,414,000 after purchasing an additional 1,265 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.