Targa Resources (NYSE:TRGP) Issues Earnings Results

Targa Resources (NYSE:TRGP) issued its quarterly earnings results on Thursday. The pipeline company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.46), Zacks reports. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%.

Targa Resources Trading Down 2.6 %

TRGP traded down $5.37 during trading on Thursday, reaching $204.93. The company had a trading volume of 2,811,900 shares, compared to its average volume of 1,456,264. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The business has a 50 day simple moving average of $195.20 and a 200-day simple moving average of $175.21. The stock has a market cap of $44.69 billion, a P/E ratio of 37.06, a PEG ratio of 0.62 and a beta of 2.29. Targa Resources has a 52 week low of $95.88 and a 52 week high of $218.51.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.46%. Targa Resources’s payout ratio is presently 54.25%.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upped their price objective on Targa Resources from $171.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company lifted their target price on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price target on Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Scotiabank began coverage on shares of Targa Resources in a research report on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $196.07.

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.