Targa Resources (TRGP) Scheduled to Post Quarterly Earnings on Thursday

Targa Resources (NYSE:TRGP) will be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.38 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.26). The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. On average, analysts expect Targa Resources to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Targa Resources Trading Down 2.7 %

TRGP opened at $114.04 on Wednesday. The firm has a market capitalization of $25.38 billion, a P/E ratio of 31.07 and a beta of 2.21. The firm’s 50 day moving average is $109.12 and its 200-day moving average is $94.45. Targa Resources has a 52-week low of $67.36 and a 52-week high of $117.87. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68.

Targa Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Targa Resources’s previous quarterly dividend of $0.50. Targa Resources’s dividend payout ratio (DPR) is currently 54.50%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TRGP. Royal Bank of Canada lifted their price objective on shares of Targa Resources from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Stifel Nicolaus lifted their price objective on shares of Targa Resources from $111.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Targa Resources from $105.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Citigroup lifted their price objective on shares of Targa Resources from $104.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.55.

Insiders Place Their Bets

In other Targa Resources news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $97.31, for a total value of $973,100.00. Following the completion of the transaction, the insider now owns 219,451 shares of the company’s stock, valued at $21,354,776.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Targa Resources news, insider Robert Muraro sold 10,000 shares of Targa Resources stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $97.31, for a total value of $973,100.00. Following the completion of the transaction, the insider now owns 219,451 shares of the company’s stock, valued at $21,354,776.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joe Bob Perkins sold 33,405 shares of Targa Resources stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the completion of the transaction, the director now directly owns 38,440 shares of the company’s stock, valued at approximately $3,754,434.80. The disclosure for this sale can be found here. Insiders sold a total of 81,966 shares of company stock valued at $7,987,215 over the last 90 days. 1.44% of the stock is owned by company insiders.

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.