Targa Resources (TRGP) Scheduled to Post Earnings on Thursday

Targa Resources (NYSE:TRGP) will be issuing its quarterly earnings data before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $1.16 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, May 2nd. The pipeline company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.13). Targa Resources had a net margin of 6.86% and a return on equity of 24.41%. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.28 billion. On average, analysts expect Targa Resources to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Targa Resources Stock Up 0.8 %

Shares of Targa Resources stock opened at $134.14 on Wednesday. Targa Resources has a 12 month low of $77.97 and a 12 month high of $138.28. The business has a fifty day simple moving average of $126.30 and a 200 day simple moving average of $111.52. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 2.73. The stock has a market cap of $29.74 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 0.70 and a beta of 2.27.

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.24%. Targa Resources’s payout ratio is currently 61.73%.

Analysts Set New Price Targets

TRGP has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Targa Resources from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Scotiabank upped their price objective on shares of Targa Resources from $128.00 to $142.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley lifted their target price on Targa Resources from $134.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. UBS Group increased their price target on Targa Resources from $116.00 to $147.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Stifel Nicolaus lifted their price objective on Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and an average price target of $132.15.

Insider Transactions at Targa Resources

In other news, CAO Julie H. Boushka sold 2,691 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.00, for a total value of $304,083.00. Following the sale, the chief accounting officer now owns 57,228 shares of the company’s stock, valued at $6,466,764. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Julie H. Boushka sold 2,691 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.00, for a total value of $304,083.00. Following the completion of the transaction, the chief accounting officer now owns 57,228 shares in the company, valued at approximately $6,466,764. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ershel C. Redd, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $113.10, for a total value of $339,300.00. Following the sale, the director now owns 28,223 shares in the company, valued at approximately $3,192,021.30. The disclosure for this sale can be found here. Insiders sold 52,691 shares of company stock valued at $6,197,632 in the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

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.