Seaport Res Ptn Predicts Lower Earnings for Targa Resources

Targa Resources Corp. (NYSE:TRGP) – Research analysts at Seaport Res Ptn dropped their FY2026 earnings per share estimates for shares of Targa Resources in a report issued on Monday, April 28th. Seaport Res Ptn analyst S. Sibal now forecasts that the pipeline company will earn $9.54 per share for the year, down from their previous 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.

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

Several other equities research analysts also recently commented on the stock. US Capital Advisors upgraded shares of Targa Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Citigroup lifted their price target on Targa Resources from $218.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wells Fargo & Company increased their price objective on Targa Resources from $204.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Truist Financial lifted their target price on Targa Resources from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Finally, Barclays cut their price target on shares of Targa Resources from $211.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $209.29.

Targa Resources Stock Down 5.1 %

TRGP stock opened at $162.23 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. Targa Resources has a 52 week low of $110.09 and a 52 week high of $218.51. The stock has a market capitalization of $35.30 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The firm has a 50 day moving average of $183.11 and a 200 day moving average of $188.12.

Targa Resources Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a dividend of $1.00 per share. This represents a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, April 30th. Targa Resources’s dividend payout ratio (DPR) is presently 69.69%.

Insider Activity at Targa Resources

In related news, insider Jennifer R. Kneale sold 29,887 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $192.42, for a total value of $5,750,856.54. Following the completion of the sale, the insider now owns 227,269 shares of the company’s stock, valued at approximately $43,731,100.98. The trade was a 11.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Waters S. Iv Davis sold 2,190 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $196.26, for a total transaction of $429,809.40. Following the transaction, the director now directly owns 2,899 shares in the company, valued at approximately $568,957.74. The trade was a 43.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,914 shares of company stock worth $22,613,288 in the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Institutional Trading of Targa Resources

A number of institutional investors have recently made changes to their positions in TRGP. Snowden Capital Advisors LLC lifted its holdings in Targa Resources by 2.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,652 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 53 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Targa Resources by 1.3% in the first quarter. Ritholtz Wealth Management now owns 4,942 shares of the pipeline company’s stock valued at $991,000 after buying an additional 62 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Targa Resources by 3.6% in the first quarter. Stratos Wealth Advisors LLC now owns 1,776 shares of the pipeline company’s stock worth $356,000 after buying an additional 62 shares in the last quarter. Fisher Asset Management LLC boosted its position in Targa Resources by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 2,217 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 67 shares during the last quarter. Finally, Mather Group LLC. grew its stake in Targa Resources by 2.3% during the 4th quarter. Mather Group LLC. now owns 3,026 shares of the pipeline company’s stock valued at $540,000 after acquiring an additional 68 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

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.