Targa Resources, Inc. (NYSE:TRGP) Plans Quarterly Dividend of $1.00

Key Points

• Targa Resources, Inc. declared a quarterly dividend of $1.00, payable on November 17th to stockholders of record as of October 31st, representing an annualized total of $4.00 and a yield of 2.7%.
• The company's payout ratio stands at 43.0%, indicating that the dividend is well-covered by earnings, with expectations to maintain a future payout ratio of 41.2%.
• Targa Resources' recent earnings report showed an impressive $2.87 earnings per share, exceeding estimates by $0.92, despite revenue falling short of expectations at $4.26 billion.

Targa Resources, Inc. (NYSE:TRGP - Get Free Report) declared a quarterly dividend on Thursday, October 16th. Stockholders of record on Friday, October 31st will be paid a dividend of 1.00 per share by the pipeline company on Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 31st.

Targa Resources has a payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Targa Resources to earn $9.72 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 41.2%.

Targa Resources Price Performance

Shares of TRGP stock opened at $146.30 on Friday. Targa Resources has a 1 year low of $145.86 and a 1 year high of $218.51. The firm's 50 day moving average is $163.87 and its 200-day moving average is $166.61. The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.90 and a beta of 1.12. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 5.93.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The pipeline company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.92. Targa Resources had a net margin of 8.99% and a return on equity of 43.35%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.82 billion. Sell-side analysts forecast that Targa Resources will post 8.15 EPS for the current fiscal year.

Targa Resources Company Profile

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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