Erste Group Bank Estimates Targa Resources FY2026 Earnings

Key Points

• Erste Group Bank raised its FY2026 EPS estimate for Targa Resources to $11.34 from $11.26 and forecasts FY2027 EPS of $12.34. The analyst maintains a “Buy” rating, while the broader analyst consensus is also “Buy” with a $319.25 price target.
• Targa Resources shares were trading around $288.97, down 2.2%, with a market capitalization of approximately $62 billion. The company’s latest quarterly earnings of $3.54 per share exceeded expectations of $2.83, despite revenue falling below estimates.
• The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 1.7% yield. Institutional investors own 92.13% of the stock, while insiders sold 7,216 shares worth about $2.13 million over the past three months.

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Equities research analysts at Erste Group Bank increased their FY2026 earnings estimates for Targa Resources in a research report issued on Wednesday, October 21st. Erste Group Bank analyst H. Engel now anticipates that the pipeline company will post earnings of $11.34 per share for the year, up from their prior forecast of $11.26. Erste Group Bank currently has a "Buy" rating on the stock. The consensus estimate for Targa Resources' current full-year earnings is $11.41 per share. Erste Group Bank also issued estimates for Targa Resources' FY2027 earnings at $12.34 EPS.

Several other equities research analysts have also recently commented on TRGP. Barclays lifted their target price on Targa Resources from $284.00 to $294.00 and gave the company an "overweight" rating in a research note on Thursday, October 8th. Wells Fargo & Company lifted their target price on Targa Resources from $282.00 to $324.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Weiss Ratings upgraded Targa Resources from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, October 14th. Capital One Financial lifted their target price on Targa Resources from $310.00 to $335.00 and gave the stock an "overweight" rating in a report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Targa Resources from $315.00 to $351.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $319.25.

Targa Resources Trading Down 2.2%

Shares of Targa Resources stock opened at $288.97 on Friday. The company's fifty day moving average price is $288.32 and its two-hundred day moving average price is $271.46. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68. Targa Resources has a 52-week low of $150.00 and a 52-week high of $307.94. The firm has a market capitalization of $61.96 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 1.22 and a beta of 0.80.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.71. The firm 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%.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, October 30th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 30th. Targa Resources's dividend payout ratio is 47.80%.

Insider Activity at Targa Resources

In related news, Director Paul Chung sold 1,816 shares of Targa Resources stock in a transaction on Tuesday, September 1st. The shares were 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 approximately $13,028,840. This trade represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director S Davis sold 2,400 shares of Targa Resources stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the transaction, the director owned 1,529 shares of the company's stock, valued at $458,195.43. This trade represents a 61.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,216 shares of company stock valued at $2,127,634 in the last three months. Corporate insiders own 1.37% of the company's stock.

Institutional Trading of Targa Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Targa Resources by 1.4% during the 2nd quarter. BlackRock Inc. now owns 20,832,687 shares of the pipeline company's stock valued at $5,586,077,000 after purchasing an additional 291,114 shares in the last quarter. State Street Corp grew its holdings in shares of Targa Resources by 4.6% during the 2nd quarter. State Street Corp now owns 14,226,166 shares of the pipeline company's stock valued at $3,814,604,000 after purchasing an additional 626,885 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Targa Resources by 21.7% during the second quarter. Deutsche Bank AG now owns 3,025,248 shares of the pipeline company's stock valued at $811,190,000 after purchasing an additional 539,582 shares during the period. Bank of America Corp DE grew its holdings in shares of Targa Resources by 28.0% in the first quarter. Bank of America Corp DE now owns 3,151,993 shares of the pipeline company's stock worth $790,299,000 after purchasing an additional 688,598 shares during the last quarter. Finally, Amundi increased its stake in shares of Targa Resources by 10.8% during the second quarter. Amundi now owns 2,222,046 shares of the pipeline company's stock valued at $595,817,000 after buying an additional 215,915 shares during the period. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Company Profile

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company's services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.

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