Erste Group Bank Comments on Targa Resources FY2027 Earnings

Key Points

• Erste Group Bank raised its FY2027 earnings estimate for Targa Resources to $12.25 per share from $12.22 and maintained a “Buy” rating, above the broader consensus estimate of $10.92.
• Targa Resources reported quarterly EPS of $3.54, beating the $2.83 analyst consensus by $0.71, although revenue of $4.44 billion fell short of the $4.90 billion estimate.
• Analyst sentiment remains strongly positive, with an average “Buy” rating and a $295.24 price target; the company also declared a $1.25 quarterly dividend, equal to a 1.9% yield.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Analysts at Erste Group Bank upped their FY2027 earnings estimates for shares of Targa Resources in a research note issued on Wednesday, August 5th. Erste Group Bank analyst H. Engel now forecasts that the pipeline company will post earnings of $12.25 per share for the year, up from their previous forecast of $12.22. Erste Group Bank currently has a "Buy" rating on the stock. The consensus estimate for Targa Resources' current full-year earnings is $10.92 per share.

Several other brokerages have also recently issued reports on TRGP. Weiss Ratings reissued a "buy (b)" rating on shares of Targa Resources in a report on Thursday, July 2nd. US Capital Advisors downgraded Targa Resources from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, May 29th. Citigroup reiterated a "buy" rating on shares of Targa Resources in a report on Wednesday, May 27th. UBS Group reiterated a "buy" rating and issued a $318.00 price objective on shares of Targa Resources in a research report on Thursday, July 9th. Finally, Truist Financial lifted their target price on Targa Resources from $289.00 to $312.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Targa Resources presently has an average rating of "Buy" and an average price target of $295.24.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $266.00 on Tuesday. Targa Resources has a 52 week low of $144.14 and a 52 week high of $291.04. The business's 50 day moving average price is $268.98 and its 200 day moving average price is $248.95. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The firm has a market cap of $57.09 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.29 and a beta of 0.72.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.83 by $0.71. The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%.

Hedge Funds Weigh In On Targa Resources

A number of hedge funds have recently made changes to their positions in the business. Atlantic Union Bankshares Corp bought a new stake in Targa Resources during the fourth quarter valued at $27,000. Miller Capital Partners Inc. acquired a new position in Targa Resources during the 4th quarter valued at $30,000. Leonteq Securities AG bought a new stake in shares of Targa Resources during the fourth quarter valued at approximately $31,000. CoreCap Advisors LLC boosted its holdings in Targa Resources by 245.9% during the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Targa Resources in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, July 31st. Targa Resources's dividend payout ratio is currently 47.80%.

About Targa Resources

Targa Resources Corporation NYSE: TRGP is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.

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