Analysts expect that Targa Resources Corp (NYSE:TRGP) will announce $2.36 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Targa Resources’ earnings. The highest sales estimate is $3.06 billion and the lowest is $1.99 billion. Targa Resources reported sales of $2.99 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 21.1%. The firm is scheduled to announce its next earnings results on Thursday, November 14th.

On average, analysts expect that Targa Resources will report full year sales of $9.01 billion for the current financial year, with estimates ranging from $7.47 billion to $11.17 billion. For the next fiscal year, analysts forecast that the company will report sales of $10.83 billion, with estimates ranging from $8.14 billion to $15.64 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Targa Resources.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 8th. The pipeline company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.15. Targa Resources had a negative return on equity of 0.17% and a negative net margin of 1.81%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.36 billion.

TRGP has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of Targa Resources to $51.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Evercore ISI reaffirmed a “hold” rating on shares of Targa Resources in a report on Sunday, August 11th. Bank of America set a $44.00 target price on shares of Targa Resources and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Targa Resources from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, SunTrust Banks set a $45.00 target price on Targa Resources and gave the stock a “buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Targa Resources currently has an average rating of “Buy” and a consensus price target of $51.24.

A number of institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new position in shares of Targa Resources during the first quarter valued at approximately $27,000. HM Payson & Co. purchased a new position in shares of Targa Resources during the second quarter valued at approximately $28,000. Arlington Partners LLC purchased a new position in shares of Targa Resources during the second quarter valued at approximately $29,000. Strategy Asset Managers LLC purchased a new position in shares of Targa Resources during the first quarter valued at approximately $36,000. Finally, Personal Wealth Partners purchased a new position in shares of Targa Resources during the second quarter valued at approximately $36,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of TRGP stock traded up $0.62 during trading hours on Tuesday, reaching $39.90. The stock had a trading volume of 24,570 shares, compared to its average volume of 2,515,189. The stock’s fifty day simple moving average is $36.29 and its 200 day simple moving average is $39.13. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $9.11 billion, a PE ratio of 199.10 and a beta of 1.75. Targa Resources has a 12 month low of $32.00 and a 12 month high of $59.21.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.91 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $3.64 dividend on an annualized basis and a yield of 9.12%. Targa Resources’s dividend payout ratio (DPR) is currently 1,820.00%.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Earnings History and Estimates for Targa Resources (NYSE:TRGP)

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