Analysts Anticipate Targa Resources, Inc. (TRGP) Will Announce Quarterly Sales of $2.16 Billion
Brokerages expect Targa Resources, Inc. (NYSE:TRGP) to report $2.16 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Targa Resources’ earnings. The lowest sales estimate is $1.94 billion and the highest is $2.41 billion. Targa Resources posted sales of $2.01 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The firm is scheduled to report its next quarterly earnings results on Friday, February 16th.
On average, analysts expect that Targa Resources will report full year sales of $2.16 billion for the current fiscal year, with estimates ranging from $7.59 billion to $8.66 billion. For the next financial year, analysts anticipate that the business will report sales of $8.45 billion per share, with estimates ranging from $5.95 billion to $9.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Targa Resources.
TRGP has been the topic of a number of research reports. Robert W. Baird reiterated a “buy” rating and issued a $53.00 target price on shares of Targa Resources in a report on Sunday, September 17th. BidaskClub upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a report on Saturday, September 16th. Guggenheim upgraded shares of Targa Resources from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, August 14th. Jefferies Group reiterated a “buy” rating and issued a $49.00 target price (down from $50.00) on shares of Targa Resources in a report on Friday, September 1st. Finally, Stifel Nicolaus set a $53.00 target price on shares of Targa Resources and gave the stock a “buy” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Targa Resources presently has an average rating of “Hold” and a consensus target price of $54.33.
Several hedge funds have recently bought and sold shares of TRGP. CNH Partners LLC raised its stake in shares of Targa Resources by 0.5% in the second quarter. CNH Partners LLC now owns 21,713 shares of the pipeline company’s stock worth $981,000 after purchasing an additional 100 shares during the last quarter. Nordea Investment Management AB boosted its position in Targa Resources by 2.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock valued at $248,000 after acquiring an additional 155 shares in the last quarter. Usca Ria LLC boosted its position in shares of Targa Resources by 3.7% in the 2nd quarter. Usca Ria LLC now owns 4,997 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 178 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Targa Resources by 3.6% in the 2nd quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after purchasing an additional 317 shares in the last quarter. Finally, Frontier Wealth Management LLC raised its stake in Targa Resources by 6.2% in the 2nd quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 344 shares during the last quarter. Institutional investors own 87.42% of the company’s stock.
Targa Resources (TRGP) traded up $1.67 during midday trading on Friday, hitting $43.40. 2,678,700 shares of the company were exchanged, compared to its average volume of 1,887,048. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.74. Targa Resources has a twelve month low of $39.59 and a twelve month high of $61.83.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a dividend of $0.91 per share. The ex-dividend date of this dividend was Tuesday, October 31st. This represents a $3.64 dividend on an annualized basis and a yield of 8.39%. Targa Resources’s dividend payout ratio (DPR) is -143.31%.
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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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