Targa Resources (TRGP) to Release Earnings on Thursday

Targa Resources (NYSE:TRGP) is anticipated to release its earnings data before the market opens on Thursday, February 20th. Analysts expect Targa Resources to post earnings of $1.90 per share and revenue of $4.48 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Targa Resources Price Performance

TRGP stock opened at $209.29 on Wednesday. Targa Resources has a 52 week low of $95.28 and a 52 week high of $218.51. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a fifty day simple moving average of $194.24 and a two-hundred day simple moving average of $174.41. The firm has a market capitalization of $45.64 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 0.59 and a beta of 2.29.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $3.00 annualized dividend and a yield of 1.43%. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Analyst Ratings Changes

Several research firms have commented on TRGP. UBS Group increased their price objective on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Stifel Nicolaus raised their target price on shares of Targa Resources from $190.00 to $224.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of Targa Resources from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Targa Resources has an average rating of “Buy” and a consensus price target of $189.21.

Targa Resources Company Profile

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.