Targa Resources, Inc. (NYSE:TRGP) Shareholders to Receive $1.25 Quarterly Dividend

Targa Resources, Inc. (NYSE:TRGP) announced a quarterly dividend on Tuesday, October 13th. Shareholders of record on Friday, October 30th will be given a dividend of $1.25 per share by the pipeline company on Tuesday, November 17th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 30th.

Targa Resources has increased its dividend payment by an average of 0.3% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Targa Resources has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Targa Resources to earn $12.33 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 40.6%.

Targa Resources Trading Up 0.8%

NYSE:TRGP opened at $292.93 on Wednesday. Targa Resources has a 52 week low of $144.14 and a 52 week high of $307.94. The firm has a 50 day moving average of $284.57 and a 200 day moving average of $269.31. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.37 and a beta of 0.80.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. As a group, sell-side analysts anticipate that Targa Resources will post 11.30 earnings per share for the current fiscal year.

Targa Resources Company Profile

Targa Resources Corp. (NYSE: TRGP) is a Houston-based midstream energy company that owns, operates and develops infrastructure for gathering, processing, transporting, storing and exporting natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products. Its operations connect producers with domestic and international markets across key U.S. energy-producing regions.

The company’s assets include natural gas gathering and processing systems, NGL pipelines, fractionation facilities, storage assets and export terminals.