FY2025 EPS Forecast for Targa Resources Increased by Analyst

Targa Resources Corp. (NYSE:TRGP) – Research analysts at Capital One Financial upped their FY2025 earnings estimates for Targa Resources in a report released on Monday, January 13th. Capital One Financial analyst W. Suki now forecasts that the pipeline company will earn $8.37 per share for the year, up from their prior estimate of $8.35. The consensus estimate for Targa Resources’ current full-year earnings is $6.26 per share.

Other analysts also recently issued reports about the company. Bank of America started coverage on Targa Resources in a report on Thursday, October 17th. They set a “buy” rating and a $182.00 price target on the stock. Morgan Stanley lifted their target price on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Scotiabank began coverage on shares of Targa Resources in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $218.00 price target for the company. Truist Financial decreased their price objective on Targa Resources from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Finally, UBS Group raised their target price on Targa Resources from $182.00 to $246.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $189.21.

Targa Resources Trading Up 1.7 %

Shares of Targa Resources stock opened at $200.89 on Wednesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.77 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $190.21 and its 200-day simple moving average is $162.26. The stock has a market cap of $43.81 billion, a P/E ratio of 36.33, a P/E/G ratio of 0.73 and a beta of 2.30. Targa Resources has a 1-year low of $81.03 and a 1-year high of $209.87.

Targa Resources (NYSE:TRGP) last released its earnings results on Tuesday, November 5th. The pipeline company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.97 earnings per share.

Insiders Place Their Bets

In other news, insider D. Scott Pryor sold 30,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now directly owns 82,979 shares in the company, valued at approximately $15,793,393.07. This trade represents a 26.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Julie H. Boushka sold 3,260 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.74, for a total value of $621,812.40. Following the completion of the transaction, the chief accounting officer now directly owns 35,143 shares in the company, valued at $6,703,175.82. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 1.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Targa Resources

Several hedge funds and other institutional investors have recently bought and sold shares of TRGP. Wellington Management Group LLP grew its holdings in shares of Targa Resources by 4.4% during the third quarter. Wellington Management Group LLP now owns 15,106,591 shares of the pipeline company’s stock worth $2,235,927,000 after purchasing an additional 633,589 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Targa Resources during the second quarter worth approximately $72,345,000. Dimensional Fund Advisors LP lifted its stake in Targa Resources by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,303,522 shares of the pipeline company’s stock valued at $296,647,000 after buying an additional 271,444 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Targa Resources by 75.4% in the third quarter. National Bank of Canada FI now owns 604,112 shares of the pipeline company’s stock valued at $89,413,000 after acquiring an additional 259,776 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Targa Resources by 599.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 287,950 shares of the pipeline company’s stock worth $42,619,000 after acquiring an additional 246,762 shares during the last quarter. 92.13% of the stock is currently 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.