Analysts predict that Targa Resources Corp (NYSE:TRGP) will post ($0.02) earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Targa Resources’ earnings. The lowest EPS estimate is ($0.22) and the highest is $0.12. Targa Resources reported earnings per share of $0.03 during the same quarter last year, which suggests a negative year-over-year growth rate of 166.7%. The company is expected to issue its next quarterly earnings results on Friday, February 16th.
According to Zacks, analysts expect that Targa Resources will report full-year earnings of ($1.49) per share for the current year, with EPS estimates ranging from ($1.75) to ($0.97). For the next financial year, analysts forecast that the business will post earnings of ($0.08) per share, with EPS estimates ranging from ($0.65) to $0.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Targa Resources.
Targa Resources (NYSE:TRGP) last issued its earnings results on Friday, November 3rd. The pipeline company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). Targa Resources had a negative net margin of 4.68% and a negative return on equity of 0.52%.
Shares of Targa Resources (NYSE TRGP) traded up $0.04 during trading on Friday, reaching $50.73. 1,500,000 shares of the company’s stock were exchanged, compared to its average volume of 2,071,169. Targa Resources has a 1 year low of $39.59 and a 1 year high of $61.83. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.74 and a quick ratio of 0.57. The firm has a market capitalization of $10,990.00, a price-to-earnings ratio of -19.97 and a beta of 2.22.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date is Wednesday, January 31st. Targa Resources’s dividend payout ratio is currently -143.31%.
In other news, VP John Richard Klein sold 2,292 shares of Targa Resources stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.85, for a total transaction of $95,920.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.93% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. CNH Partners LLC boosted its holdings in Targa Resources by 0.5% during 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 holdings in Targa Resources by 2.9% during the second quarter. Nordea Investment Management AB now owns 5,493 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 155 shares during the last quarter. Profund Advisors LLC boosted its holdings in Targa Resources by 3.6% during the second quarter. Profund Advisors LLC now owns 9,140 shares of the pipeline company’s stock worth $413,000 after purchasing an additional 317 shares during the last quarter. Frontier Wealth Management LLC boosted its holdings in Targa Resources by 6.2% during the second quarter. Frontier Wealth Management LLC now owns 5,874 shares of the pipeline company’s stock worth $266,000 after purchasing an additional 344 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Targa Resources by 24.0% in the second quarter. Van ECK Associates Corp now owns 2,705 shares of the pipeline company’s stock valued at $122,000 after acquiring an additional 524 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://sportsperspectives.com/2018/01/22/0-02-earnings-per-share-expected-for-targa-resources-corp-trgp-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Targa Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Targa Resources and related companies with MarketBeat.com's FREE daily email newsletter.