FY2027 EPS Forecast for Targa Resources Lifted by Analyst

Targa Resources, Inc. (NYSE:TRGP - Free Report) - Erste Group Bank raised their FY2027 EPS estimates for shares of Targa Resources in a note issued to investors on Thursday, October 8th. Erste Group Bank analyst H. Engel now forecasts that the pipeline company will post earnings per share of $12.31 for the year, up from their previous forecast of $12.20. Erste Group Bank has a "Buy" rating on the stock. The consensus estimate for Targa Resources' current full-year earnings is $11.30 per share.

A number of other equities analysts also recently issued reports on TRGP. Scotiabank lifted their price objective on shares of Targa Resources from $257.00 to $314.00 and gave the stock an "outperform" rating in a report on Thursday, September 10th. Wolfe Research set a $335.00 price target on shares of Targa Resources in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Targa Resources from $315.00 to $351.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Morgan Stanley upped their price objective on Targa Resources from $343.00 to $359.00 and gave the company an "overweight" rating in a research note on Wednesday, September 16th. Finally, Citigroup upped their price objective on Targa Resources from $303.00 to $325.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $318.45.

Targa Resources Price Performance

Targa Resources stock opened at $292.93 on Wednesday. The stock has a market capitalization of $62.81 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.37 and a beta of 0.80. The stock's 50 day moving average price is $284.57 and its two-hundred day moving average price is $269.31. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. Targa Resources has a 52-week low of $144.14 and a 52-week high of $307.94.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, beating 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 analysts' expectations of $4.90 billion.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ulrich Consultants & Investment Group LLC purchased a new stake in shares of Targa Resources in the third quarter worth $384,000. Krilogy Financial LLC boosted its holdings in shares of Targa Resources by 8.3% in the 3rd quarter. Krilogy Financial LLC now owns 4,369 shares of the pipeline company's stock worth $1,269,000 after purchasing an additional 336 shares in the last quarter. Sax Wealth Advisors LLC bought a new position in Targa Resources during the third quarter valued at approximately $330,000. NorthCrest Asset Manangement LLC grew its holdings in shares of Targa Resources by 2.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 23,399 shares of the pipeline company's stock valued at $6,750,000 after purchasing an additional 489 shares during the last quarter. Finally, Camelot Technology Advisors Inc. increased its holdings in shares of Targa Resources by 4.8% in the third quarter. Camelot Technology Advisors Inc. now owns 11,637 shares of the pipeline company's stock worth $3,146,000 after buying an additional 538 shares during the period. 92.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Charles R. Crisp sold 3,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total transaction of $870,690.00. Following the completion of the transaction, the director owned 62,292 shares in the company, valued at $18,079,007.16. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul W. Chung sold 1,816 shares of Targa Resources stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total transaction of $537,735.76. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,216 shares of company stock valued at $2,127,634 over the last three months. 1.37% of the stock is currently owned by insiders.

Targa Resources Announces Dividend

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

About Targa Resources

Targa Resources Corp. NYSE: TRGP is a Houston-based midstream energy company that owns, operates and develops infrastructure for gathering, processing, transporting, storing and exporting natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products. Its operations connect producers with domestic and international markets across key U.S. energy-producing regions.

The company's assets include natural gas gathering and processing systems, NGL pipelines, fractionation facilities, storage assets and export terminals.

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