FY2025 EPS Estimate for Targa Resources Reduced by Analyst

Targa Resources Corp. (NYSE:TRGP) – Equities research analysts at Capital One Financial decreased their FY2025 earnings per share estimates for Targa Resources in a note issued to investors on Monday, February 24th. Capital One Financial analyst W. Suki now forecasts that the pipeline company will earn $7.76 per share for the year, down from their previous estimate of $8.37. The consensus estimate for Targa Resources’ current full-year earnings is $8.15 per share. Capital One Financial also issued estimates for Targa Resources’ FY2026 earnings at $8.92 EPS.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). Targa Resources had a net margin of 7.81% and a return on equity of 28.67%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion.

Other analysts have also recently issued reports about the company. US Capital Advisors cut Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Mizuho raised their price objective on Targa Resources from $208.00 to $226.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Royal Bank of Canada raised their price objective on Targa Resources from $172.00 to $199.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. UBS Group raised their price objective on Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group increased their target price on Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $205.43.

Targa Resources Stock Performance

TRGP opened at $198.20 on Wednesday. Targa Resources has a 12-month low of $96.64 and a 12-month high of $218.51. The stock has a market cap of $43.23 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 0.61 and a beta of 2.29. The business has a 50 day moving average of $197.00 and a 200-day moving average of $177.53. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.75 per share. The ex-dividend date was Friday, January 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. Targa Resources’s dividend payout ratio (DPR) is presently 52.26%.

Insiders Place Their Bets

In other news, CEO Matthew J. Meloy sold 48,837 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total value of $9,527,121.96. Following the transaction, the chief executive officer now owns 725,628 shares in the company, valued at approximately $141,555,510.24. This trade represents a 6.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer R. Kneale sold 29,887 shares of Targa Resources stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the transaction, the insider now owns 227,269 shares in the company, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Targa Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Snowden Capital Advisors LLC increased its stake in shares of Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 53 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Targa Resources by 0.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,685 shares of the pipeline company’s stock valued at $1,153,000 after purchasing an additional 66 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Targa Resources by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock valued at $396,000 after purchasing an additional 67 shares during the last quarter. Mather Group LLC. increased its stake in shares of Targa Resources by 2.3% in the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 68 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of Targa Resources by 0.4% during the 4th quarter. Keybank National Association OH now owns 19,440 shares of the pipeline company’s stock valued at $3,470,000 after acquiring an additional 70 shares in the last quarter. 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.