FY2026 EPS Estimates for Targa Resources Reduced by Analyst

Targa Resources Corp. (NYSE:TRGP - Free Report) - Analysts at Seaport Res Ptn cut their FY2026 earnings per share estimates for shares of Targa Resources in a research note issued on Monday, April 28th. Seaport Res Ptn analyst S. Sibal now anticipates that the pipeline company will post earnings of $9.54 per share for the year, down from their prior estimate of $9.82. The consensus estimate for Targa Resources' current full-year earnings is $8.15 per share. Seaport Res Ptn also issued estimates for Targa Resources' FY2027 earnings at $10.92 EPS.

Other equities analysts have also issued research reports about the stock. Mizuho dropped their target price on shares of Targa Resources from $226.00 to $218.00 and set an "outperform" rating on the stock in a report on Monday. Citigroup boosted their price objective on Targa Resources from $218.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Royal Bank of Canada upped their target price on Targa Resources from $220.00 to $221.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Barclays dropped their price target on Targa Resources from $211.00 to $206.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Scotiabank reduced their price objective on shares of Targa Resources from $201.00 to $199.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Targa Resources has an average rating of "Buy" and a consensus target price of $209.29.

Targa Resources Trading Down 4.1 %

NYSE TRGP opened at $170.75 on Thursday. The firm has a market capitalization of $37.15 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The business's 50-day moving average price is $183.83 and its two-hundred day moving average price is $188.15. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05. Targa Resources has a 12 month low of $110.09 and a 12 month high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last posted its earnings results on Thursday, February 20th. The pipeline company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.46). The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.48 billion. Targa Resources had a return on equity of 28.67% and a net margin of 7.81%.

Targa Resources Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a $1.00 dividend. This represents a yield of 2.34%. The ex-dividend date is Wednesday, April 30th. Targa Resources's payout ratio is currently 69.69%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,190 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $196.26, for a total value of $429,809.40. Following the completion of the transaction, the director now owns 2,899 shares in the company, valued at $568,957.74. This represents a 43.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Meloy sold 48,837 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $195.08, for a total transaction of $9,527,121.96. Following the completion of the transaction, the chief executive officer now directly owns 725,628 shares in the company, valued at $141,555,510.24. This trade represents a 6.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,914 shares of company stock worth $22,613,288. Corporate insiders own 1.34% of the company's stock.

Institutional Investors Weigh In On Targa Resources

Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Targa Resources by 19.5% in the third quarter. Barclays PLC now owns 1,034,545 shares of the pipeline company's stock valued at $153,124,000 after buying an additional 168,602 shares during the period. Virtu Financial LLC increased its stake in shares of Targa Resources by 39.4% in the third quarter. Virtu Financial LLC now owns 8,447 shares of the pipeline company's stock worth $1,250,000 after purchasing an additional 2,388 shares in the last quarter. Fulcrum Equity Management raised its holdings in Targa Resources by 7.1% during the 3rd quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company's stock valued at $464,000 after acquiring an additional 208 shares during the period. Sfmg LLC lifted its position in shares of Targa Resources by 3.3% during the third quarter. Sfmg LLC now owns 3,131 shares of the pipeline company's stock worth $463,000 after acquiring an additional 100 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Targa Resources in the third quarter worth $145,000. Institutional investors own 92.13% of the company's stock.

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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