Targa Resources Corp (NYSE:TRGP) Expected to Announce Earnings of -$0.08 Per Share
Equities research analysts expect that Targa Resources Corp (NYSE:TRGP) will post earnings per share of ($0.08) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Targa Resources’ earnings, with estimates ranging from ($0.22) to $0.11. Targa Resources posted earnings of $0.13 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 161.5%. The company is expected to report its next quarterly earnings results on Friday, March 6th.
According to Zacks, analysts expect that Targa Resources will report full-year earnings of ($0.82) per share for the current year, with EPS estimates ranging from ($1.08) to ($0.64). For the next financial year, analysts anticipate that the company will report earnings of $0.11 per share, with EPS estimates ranging from ($0.38) to $0.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Targa Resources.
Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.12). Targa Resources had a negative net margin of 2.31% and a negative return on equity of 0.45%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $2.25 billion.
Shares of Targa Resources stock traded down $1.52 on Friday, reaching $37.51. The stock had a trading volume of 29,256 shares, compared to its average volume of 1,784,122. The company has a 50 day moving average price of $39.71 and a 200 day moving average price of $38.91. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.83. Targa Resources has a 1 year low of $32.00 and a 1 year high of $48.78. The stock has a market capitalization of $9.14 billion, a P/E ratio of 187.50 and a beta of 1.78.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 9.70%. The ex-dividend date of this dividend was Thursday, October 31st. Targa Resources’s dividend payout ratio (DPR) is currently 1,820.00%.
Several hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new stake in shares of Targa Resources during the third quarter worth about $25,000. HM Payson & Co. bought a new stake in shares of Targa Resources in the 2nd quarter valued at about $28,000. Arlington Partners LLC bought a new stake in Targa Resources during the 2nd quarter worth approximately $29,000. Personal Wealth Partners bought a new stake in Targa Resources during the 2nd quarter worth approximately $36,000. Finally, Valeo Financial Advisors LLC boosted its position in Targa Resources by 105.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 495 shares during the last quarter. 95.28% of the stock is currently owned by institutional investors and hedge funds.
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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