FY2025 EPS Estimate for Targa Resources Increased by Analyst

Targa Resources Corp. (NYSE:TRGP) – Investment analysts at Capital One Financial lifted their FY2025 earnings per share estimates for Targa Resources in a research note issued to investors on Monday, January 13th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will earn $8.37 per share for the year, up from their previous forecast of $8.35. The consensus estimate for Targa Resources’ current full-year earnings is $6.26 per share.

Targa Resources (NYSE:TRGP) last issued its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.17. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $4.24 billion. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. During the same quarter in the prior year, the firm earned $0.97 earnings per share.

TRGP has been the subject of several other research reports. Bank of America initiated coverage on Targa Resources in a research note on Thursday, October 17th. They issued a “buy” rating and a $182.00 target price for the company. The Goldman Sachs Group raised their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus raised their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley raised their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus target price of $189.21.

Targa Resources Stock Up 1.9 %

Shares of TRGP opened at $205.25 on Wednesday. The firm has a market cap of $44.76 billion, a P/E ratio of 37.12, a P/E/G ratio of 0.73 and a beta of 2.30. The stock has a 50 day simple moving average of $190.21 and a two-hundred day simple moving average of $162.26. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. Targa Resources has a 1 year low of $81.03 and a 1 year high of $209.87.

Insider Buying and Selling

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.33, for a total transaction of $5,709,900.00. Following the completion of the transaction, the insider now owns 82,979 shares of the company’s stock, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the transaction, the chief accounting officer now directly owns 35,143 shares of the company’s stock, valued at $6,703,175.82. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Targa Resources

Large investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of Targa Resources in the 2nd quarter worth about $29,000. DT Investment Partners LLC purchased a new position in shares of Targa Resources in the 3rd quarter worth about $29,000. Prospera Private Wealth LLC purchased a new position in shares of Targa Resources in the 3rd quarter worth about $35,000. Rosenberg Matthew Hamilton raised its position in shares of Targa Resources by 49.4% in the 4th quarter. Rosenberg Matthew Hamilton now owns 269 shares of the pipeline company’s stock worth $48,000 after purchasing an additional 89 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Targa Resources by 22.9% in the 3rd quarter. Huntington National Bank now owns 478 shares of the pipeline company’s stock worth $71,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.