FY2027 EPS Estimates for Targa Resources Lowered by Analyst

Targa Resources, Inc. (NYSE:TRGP) – Equities research analysts at Erste Group Bank cut their FY2027 earnings estimates for shares of Targa Resources in a research report issued to clients and investors on Friday, September 18th. Erste Group Bank analyst H. Engel now anticipates that the pipeline company will post earnings per share of $12.20 for the year, down from their prior forecast of $12.26. Erste Group Bank has a “Buy” rating on the stock. The consensus estimate for Targa Resources’ current full-year earnings is $11.32 per share.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion.

A number of other equities analysts have also recently issued reports on TRGP. US Capital Advisors cut Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Barclays raised their price target on shares of Targa Resources from $282.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Targa Resources in a research report on Thursday, July 2nd. Citigroup reaffirmed a “buy” rating on shares of Targa Resources in a research report on Wednesday, May 27th. Finally, UBS Group reissued a “buy” rating and issued a $318.00 price objective on shares of Targa Resources in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $317.24.

Targa Resources Stock Down 2.3%

Shares of NYSE TRGP opened at $282.69 on Wednesday. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a 50-day simple moving average of $282.09 and a two-hundred day simple moving average of $264.67. Targa Resources has a 1 year low of $144.14 and a 1 year high of $307.94. The company has a market cap of $60.62 billion, a P/E ratio of 27.03, a PEG ratio of 1.36 and a beta of 0.72.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $1.25 dividend. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. Targa Resources’s payout ratio is 47.80%.

Insider Transactions at Targa Resources

In related news, Director Waters S. Iv Davis sold 2,400 shares of Targa Resources stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the transaction, the director owned 1,529 shares in the company, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul W. Chung sold 1,816 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $296.11, for a total value of $537,735.76. Following the completion of the sale, the director owned 44,000 shares in the company, valued at approximately $13,028,840. This represents a 3.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 7,216 shares of company stock valued at $2,127,634. 1.37% of the stock is currently owned by company insiders.

Institutional Trading of Targa Resources

A number of large investors have recently made changes to their positions in TRGP. Norges Bank acquired a new stake in Targa Resources during the 4th quarter worth approximately $735,758,000. Bank of America Corp DE acquired a new position in shares of Targa Resources during the 2nd quarter worth $734,846,000. Legal & General Group Plc acquired a new position in Targa Resources during the second quarter worth $336,575,000. Goldman Sachs Group Inc. grew its position in shares of Targa Resources by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock valued at $607,023,000 after purchasing an additional 1,075,246 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Targa Resources during the second quarter valued at $275,702,000. 92.13% of the stock is owned by institutional investors and hedge funds.

About Targa Resources

Targa Resources Corp. (NYSE: TRGP) is a midstream energy infrastructure company that gathers, processes, transports and fractionates natural gas and natural gas liquids (NGLs). Its operations connect producers with downstream markets and include natural gas gathering and processing, NGL fractionation, storage, transportation and marketing, as well as crude oil gathering and logistics.

The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and export infrastructure across the United States.