Erste Group Bank Estimates Targa Resources FY2027 Earnings

Targa Resources, Inc. (NYSE:TRGP) – Stock analysts at Erste Group Bank boosted their FY2027 earnings estimates for shares of Targa Resources in a report released on Wednesday, August 5th. Erste Group Bank analyst H. Engel now forecasts that the pipeline company will post earnings of $12.25 per share for the year, up from their previous forecast of $12.22. Erste Group Bank currently has a “Buy” rating on the stock. The consensus estimate for Targa Resources’ current full-year earnings is $10.92 per share.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Targa Resources from $242.00 to $268.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $310.00 target price on shares of Targa Resources in a report on Tuesday, July 21st. Truist Financial raised their target price on Targa Resources from $289.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Targa Resources from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company boosted their price objective on Targa Resources from $270.00 to $282.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $295.24.

Targa Resources Stock Up 3.6%

TRGP opened at $266.00 on Tuesday. Targa Resources has a fifty-two week low of $144.14 and a fifty-two week high of $291.04. The stock has a fifty day moving average of $268.98 and a 200-day moving average of $248.95. The company has a market capitalization of $57.09 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.29 and a beta of 0.72. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77.

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

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, July 31st. Targa Resources’s dividend payout ratio is presently 47.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vise Technologies Inc. bought a new position in shares of Targa Resources in the second quarter worth approximately $3,146,000. E Fund Management Co. Ltd. purchased a new position in shares of Targa Resources during the second quarter worth approximately $201,000. Edmond DE Rothschild Holding S.A. bought a new stake in Targa Resources in the second quarter worth $1,008,000. Addison Advisors LLC purchased a new stake in Targa Resources during the 2nd quarter valued at about $87,000. Finally, NewEdge Wealth LLC bought a new position in shares of Targa Resources in the second quarter worth approximately $3,641,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.