Targa Resources, Inc. (TRGP) Scheduled to Post Earnings on Tuesday
Targa Resources, Inc. (NYSE:TRGP) will release its earnings data before the market opens on Tuesday, October 31st. Analysts expect Targa Resources to post earnings of ($0.06) per share for the quarter.
Shares of Targa Resources, Inc. (NYSE TRGP) traded down 0.05% during midday trading on Tuesday, hitting $42.75. The company had a trading volume of 134,269 shares. The company’s market capitalization is $9.22 billion. Targa Resources, Inc. has a 12 month low of $40.25 and a 12 month high of $61.83. The company has a 50-day moving average of $46.65 and a 200-day moving average of $47.39.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.91 dividend. The ex-dividend date is Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a dividend yield of 8.51%. Targa Resources’s dividend payout ratio (DPR) is presently -183.84%.
In other Targa Resources news, insider Dan C. Middlebrooks sold 2,100 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.70, for a total transaction of $93,870.00. Following the transaction, the insider now directly owns 50,853 shares in the company, valued at $2,273,129.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.93% of the stock is owned by corporate insiders.
A number of research analysts recently commented on TRGP shares. Jefferies Group LLC upgraded Targa Resources from a “hold” rating to a “buy” rating and decreased their price objective for the company from $54.00 to $50.00 in a report on Wednesday, July 12th. Citigroup Inc. decreased their price objective on Targa Resources from $64.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, June 28th. Stifel Nicolaus set a $63.00 price objective on Targa Resources and gave the company a “buy” rating in a report on Monday, June 26th. Guggenheim upgraded Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Monday, August 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of Targa Resources in a report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Targa Resources presently has an average rating of “Hold” and an average price target of $54.67.
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Targa Resources Company Profile
Targa Resources Corp. is a midstream energy company in North America. It provides midstream services. Its segments include Gathering and Processing, and Logistics and Marketing (Downstream Business). It is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing and terminalling crude oil, and storing, terminalling and selling refined petroleum products.
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