Erste Group Bank Estimates Targa Resources FY2026 Earnings

Key Points

• Erste Group Bank raised its FY2026 EPS estimate for Targa Resources to $11.26 from $11.19, close to the $11.29 consensus estimate, while maintaining a “Buy” rating.
• Targa Resources reported quarterly EPS of $3.54, beating expectations of $2.83, although revenue of $4.44 billion fell short of the $4.90 billion consensus estimate.
• Analyst sentiment remains broadly positive, with the stock carrying an average “Buy” rating and a consensus price target of $308.76; shares recently traded at $292.25 and pay a quarterly dividend of $1.25.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Stock analysts at Erste Group Bank increased their FY2026 earnings per share (EPS) estimates for shares of Targa Resources in a report issued on Tuesday, September 8th. Erste Group Bank analyst H. Engel now forecasts that the pipeline company will post earnings per share of $11.26 for the year, up from their prior forecast of $11.19. Erste Group Bank has a "Buy" rating on the stock. The consensus estimate for Targa Resources' current full-year earnings is $11.29 per share.

TRGP has been the topic of a number of other research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Targa Resources in a research note on Thursday, July 2nd. TD Cowen raised their price objective on shares of Targa Resources from $270.00 to $275.00 and gave the company a "hold" rating in a research note on Friday, August 7th. Wolfe Research set a $335.00 target price on shares of Targa Resources in a report on Friday, August 7th. Mizuho upped their target price on shares of Targa Resources from $260.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Finally, Truist Financial increased their price target on shares of Targa Resources from $289.00 to $312.00 and gave the company a "buy" rating in a 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 assigned a Hold rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of "Buy" and an average target price of $308.76.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $292.25 on Friday. The business has a fifty day moving average price of $279.76 and a 200-day moving average price of $261.78. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68. The company has a market capitalization of $62.67 billion, a PE ratio of 27.94, a PEG ratio of 1.38 and a beta of 0.72. Targa Resources has a 1-year low of $144.14 and a 1-year high of $307.94.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in shares of Targa Resources by 381.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company's stock worth $27,000 after purchasing an additional 80 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Targa Resources in the second quarter worth approximately $32,000. Compass Financial Management LLC bought a new stake in Targa Resources during the second quarter valued at approximately $33,000. CoreCap Advisors LLC grew its position 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 buying an additional 91 shares during the period. Finally, Virtus Advisers LLC purchased a new stake in Targa Resources during the second quarter valued at approximately $35,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Paul W. Chung sold 1,816 shares of Targa Resources stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total value of $537,735.76. Following the completion of the sale, the director owned 44,000 shares of the company's stock, valued at $13,028,840. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles R. Crisp sold 3,000 shares of the company's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total value of $870,690.00. Following the sale, the director owned 62,292 shares of the company's stock, valued at approximately $18,079,007.16. This trade represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,216 shares of company stock valued at $2,127,634. Company insiders own 1.37% of the company's stock.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $1.25 dividend. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources's dividend payout ratio (DPR) is currently 47.80%.

About Targa Resources

Targa Resources Corp. NYSE: TRGP is a midstream energy infrastructure company that gathers, processes, transports and fractionates natural gas and natural gas liquids (NGLs). Its operations connect producers with downstream markets and include natural gas gathering and processing, NGL fractionation, storage, transportation and marketing, as well as crude oil gathering and logistics.

The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and export infrastructure across the United States.

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