Erste Group Bank Estimates Targa Resources FY2027 Earnings

Targa Resources, Inc. (NYSE:TRGP) – Analysts at Erste Group Bank upped their FY2027 EPS estimates for shares of Targa Resources in a research note issued to investors on Thursday, October 8th. Erste Group Bank analyst H. Engel now anticipates that the pipeline company will post earnings per share of $12.31 for the year, up from their prior forecast of $12.20. Erste Group Bank has a “Buy” rating on the stock. The consensus estimate for Targa Resources’ current full-year earnings is $11.30 per share.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data 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. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion.

TRGP has been the subject of a number of other reports. The Goldman Sachs Group restated a “buy” rating and set a $322.00 price objective on shares of Targa Resources in a research note on Tuesday. Royal Bank Of Canada increased their target price on Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Morgan Stanley lifted their target price on Targa Resources from $343.00 to $359.00 and gave the stock an “overweight” rating in a report on Wednesday, September 16th. Wolfe Research set a $335.00 price target on Targa Resources in a research note on Friday, August 7th. Finally, Capital One Financial boosted their price target on Targa Resources from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $318.45.

Targa Resources Price Performance

TRGP stock opened at $292.93 on Wednesday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a 50 day moving average price of $284.57 and a 200-day moving average price of $269.31. Targa Resources has a 52-week low of $144.14 and a 52-week high of $307.94. The firm has a market capitalization of $62.81 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.37 and a beta of 0.80.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, October 30th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources’s payout ratio is currently 47.80%.

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the transaction, the director directly owned 62,292 shares of the company’s stock, valued at approximately $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul W. Chung sold 1,816 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the completion of the sale, the director owned 44,000 shares in the company, valued at approximately $13,028,840. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,216 shares of company stock worth $2,127,634. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Targa Resources

A number of institutional investors and hedge funds have recently modified their holdings of TRGP. Ulrich Consultants & Investment Group LLC bought a new position in shares of Targa Resources during the 3rd quarter valued at approximately $384,000. Krilogy Financial LLC boosted its stake in shares of Targa Resources by 8.3% during the 3rd quarter. Krilogy Financial LLC now owns 4,369 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 336 shares during the period. Sax Wealth Advisors LLC purchased a new position in shares of Targa Resources during the 3rd quarter worth about $330,000. NorthCrest Asset Manangement LLC grew its holdings in Targa Resources by 2.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,399 shares of the pipeline company’s stock valued at $6,750,000 after purchasing an additional 489 shares during the last quarter. Finally, Camelot Technology Advisors Inc. grew its holdings in Targa Resources by 4.8% during the 3rd quarter. Camelot Technology Advisors Inc. now owns 11,637 shares of the pipeline company’s stock valued at $3,146,000 after purchasing an additional 538 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.