Analysts Set Expectations for Targa Resources FY2025 Earnings

Key Points

• Capital One Financial forecasts Targa Resources will achieve earnings of $8.39 per share for FY2025, slightly above the current consensus estimate of $8.15 per share.
• Analysts generally maintain a positive outlook, with one rating Targa as a Strong Buy, fourteen rates it as Buy, and three as Hold, reflecting strong support in the market.
• Targa Resources is set to announce a $1.00 per share quarterly dividend on November 17th, contributing to an annualized dividend yield of 2.6%.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Capital One Financial issued their FY2025 EPS estimates for shares of Targa Resources in a research note issued on Wednesday, October 22nd. Capital One Financial analyst W. Suki forecasts that the pipeline company will post earnings of $8.39 per share for the year. The consensus estimate for Targa Resources' current full-year earnings is $8.15 per share.

TRGP has been the topic of several other research reports. Mizuho lowered their price objective on shares of Targa Resources from $212.00 to $207.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Wall Street Zen raised shares of Targa Resources from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. Cfra Research upgraded shares of Targa Resources to a "hold" rating in a research note on Friday, August 8th. Wells Fargo & Company reissued an "overweight" rating and set a $205.00 price objective (up previously from $198.00) on shares of Targa Resources in a research report on Friday, August 8th. Finally, BMO Capital Markets began coverage on Targa Resources in a research note on Friday, September 19th. They issued an "outperform" rating and a $185.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $209.50.

Targa Resources Trading Up 1.5%

Shares of NYSE:TRGP opened at $156.82 on Friday. The stock's 50-day simple moving average is $162.49 and its two-hundred day simple moving average is $165.56. The stock has a market capitalization of $33.75 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 0.99 and a beta of 1.12. Targa Resources has a 52-week low of $144.14 and a 52-week high of $218.51. The company has a debt-to-equity ratio of 5.93, a quick ratio of 0.56 and a current ratio of 0.69.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The pipeline company reported $2.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.92. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.82 billion. Targa Resources had a return on equity of 43.35% and a net margin of 8.99%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TRGP. Cornerstone Planning Group LLC raised its holdings in Targa Resources by 578.9% during the first quarter. Cornerstone Planning Group LLC now owns 129 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 110 shares during the period. Disciplina Capital Management LLC purchased a new stake in shares of Targa Resources during the first quarter worth about $46,000. Olde Wealth Management LLC bought a new stake in Targa Resources during the 1st quarter valued at approximately $52,000. Elevation Point Wealth Partners LLC purchased a new position in Targa Resources in the 2nd quarter worth approximately $53,000. Finally, Carolina Wealth Advisors LLC bought a new position in Targa Resources in the 3rd quarter worth approximately $58,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, October 31st. Targa Resources's dividend payout ratio (DPR) is presently 56.58%.

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.

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