Targa Resources FY2025 EPS Cut by Capital One Financial

Targa Resources Corp. (NYSE:TRGP) – Research analysts at Capital One Financial reduced their FY2025 earnings per share estimates for shares of Targa Resources in a report released on Monday, February 24th. Capital One Financial analyst W. Suki now anticipates that the pipeline company will post earnings of $7.76 per share for the year, down from their previous forecast of $8.37. The consensus estimate for Targa Resources’ current full-year earnings is $8.15 per share. Capital One Financial also issued estimates for Targa Resources’ FY2026 earnings at $8.92 EPS.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.46). The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%.

A number of other equities research analysts have also recently weighed in on the company. Truist Financial dropped their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Scotiabank began coverage on Targa Resources in a research report on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 target price for the company. Mizuho boosted their price target on shares of Targa Resources from $208.00 to $226.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Stifel Nicolaus raised their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Citigroup upped their target price on shares of Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $205.43.

Targa Resources Trading Down 1.9 %

NYSE TRGP opened at $194.76 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a market capitalization of $42.47 billion, a P/E ratio of 33.93, a PEG ratio of 0.61 and a beta of 2.29. The firm’s 50-day moving average is $196.48 and its two-hundred day moving average is $177.38. Targa Resources has a 12 month low of $95.88 and a 12 month high of $218.51.

Institutional Trading of Targa Resources

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Targa Resources during the 4th quarter worth $505,132,000. GQG Partners LLC purchased a new position in Targa Resources during the fourth quarter worth $393,335,000. Canada Pension Plan Investment Board raised its holdings in shares of Targa Resources by 981.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,144,109 shares of the pipeline company’s stock worth $204,223,000 after acquiring an additional 1,038,350 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Targa Resources in the fourth quarter valued at $150,372,000. Finally, TD Asset Management Inc. boosted its stake in shares of Targa Resources by 568.7% during the fourth quarter. TD Asset Management Inc. now owns 970,373 shares of the pipeline company’s stock valued at $173,212,000 after acquiring an additional 825,267 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is 52.26%.

About Targa Resources

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.