Targa Resources (TRGP) Scheduled to Post Earnings on Tuesday

Targa Resources (NYSE:TRGP) will be issuing its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $1.57 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $4.33 billion. Targa Resources had a net margin of 6.60% and a return on equity of 23.98%. During the same period in the previous year, the business earned $1.44 earnings per share. On average, analysts expect Targa Resources to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Targa Resources Stock Performance

NYSE:TRGP opened at $165.27 on Friday. Targa Resources has a fifty-two week low of $81.03 and a fifty-two week high of $169.92. The stock has a fifty day moving average price of $155.23 and a 200-day moving average price of $135.82. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.53 and a current ratio of 0.65. The company has a market cap of $36.21 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 1.29 and a beta of 2.24.

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is presently 63.16%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TRGP shares. Royal Bank of Canada lifted their target price on Targa Resources from $153.00 to $172.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Scotiabank upped their price target 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. Argus raised shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America started coverage on Targa Resources in a research report on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price for the company. Finally, Wells Fargo & Company upped their price objective on shares of Targa Resources from $124.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Targa Resources has an average rating of “Buy” and a consensus price target of $152.79.

Insider Buying and Selling

In other news, CAO Julie H. Boushka sold 1,213 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total transaction of $160,140.26. Following the transaction, the chief accounting officer now owns 52,257 shares of the company’s stock, valued at $6,898,969.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Julie H. Boushka sold 1,213 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.02, for a total value of $160,140.26. Following the completion of the transaction, the chief accounting officer now directly owns 52,257 shares of the company’s stock, valued at $6,898,969.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the transaction, the director now directly owns 110,470 shares of the company’s stock, valued at $17,181,399.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,534 shares of company stock valued at $26,815,021. 1.39% of the stock is owned by insiders.

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.