Targa Resources (TRGP) to Release Earnings on Thursday

Targa Resources (NYSE:TRGP) is expected to post its quarterly earnings results before the market opens on Thursday, February 20th. Analysts expect Targa Resources to post earnings of $1.90 per share and revenue of $4.48 billion for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Targa Resources Trading Up 1.9 %

NYSE:TRGP opened at $209.29 on Wednesday. Targa Resources has a one year low of $95.28 and a one year high of $218.51. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market cap of $45.64 billion, a P/E ratio of 37.85, a P/E/G ratio of 0.59 and a beta of 2.29. The firm has a 50-day simple moving average of $194.24 and a 200-day simple moving average of $174.41.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. Targa Resources’s dividend payout ratio is currently 54.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus boosted their price target on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Scotiabank assumed coverage on shares of Targa Resources in a research note on Friday, January 10th. They set a “sector outperform” rating and a $218.00 price objective for the company. UBS Group boosted their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $189.21.

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.