Targa Resources (NYSE:TRGP) – Stock analysts at US Capital Advisors cut their Q1 2018 earnings per share estimates for shares of Targa Resources in a research report issued to clients and investors on Tuesday, April 17th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of ($0.07) per share for the quarter, down from their prior estimate of ($0.06). US Capital Advisors also issued estimates for Targa Resources’ Q2 2018 earnings at ($0.13) EPS, Q3 2018 earnings at ($0.12) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.41) EPS, FY2019 earnings at ($0.53) EPS and FY2020 earnings at $0.13 EPS.
Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). Targa Resources had a return on equity of 3.53% and a net margin of 0.61%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.30 billion.
TRGP has been the subject of several other research reports. Royal Bank of Canada restated a “buy” rating and set a $60.00 target price on shares of Targa Resources in a research report on Tuesday, January 16th. Barclays upgraded Targa Resources from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $50.00 to $58.00 in a research report on Wednesday, January 17th. Credit Suisse Group started coverage on Targa Resources in a research report on Thursday, January 4th. They set a “neutral” rating and a $46.00 target price for the company. ValuEngine downgraded Targa Resources from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Bank of America started coverage on Targa Resources in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.71.
Shares of NYSE:TRGP opened at $48.03 on Thursday. Targa Resources has a 1-year low of $39.59 and a 1-year high of $57.78. The company has a market cap of $10,206.25, a PE ratio of -111.70 and a beta of 1.98. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 0.70.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 7.58%. Targa Resources’s payout ratio is -846.51%.
Institutional investors and hedge funds have recently modified their holdings of the business. James Hambro & Partners bought a new position in Targa Resources in the 4th quarter valued at $111,000. SeaCrest Wealth Management LLC bought a new position in Targa Resources in the 4th quarter valued at $111,000. Searle & CO. bought a new position in Targa Resources in the 4th quarter valued at $200,000. Quadrant Private Wealth Management LLC bought a new position in Targa Resources in the 4th quarter valued at $203,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in Targa Resources in the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.
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About Targa Resources
Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of midstream energy assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Marketing. The company engages in gathering, compressing, treating, processing, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.
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