Targa Resources (NYSE:TRGP) Posts Earnings Results, Misses Estimates By $0.46 EPS

Targa Resources (NYSE:TRGP) posted its quarterly earnings results on Thursday. The pipeline company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.46), Zacks reports. Targa Resources had a return on equity of 27.59% and a net margin of 7.65%.

Targa Resources Stock Down 2.6 %

NYSE TRGP traded down $5.37 during trading hours on Thursday, reaching $204.93. 2,811,903 shares of the company traded hands, compared to its average volume of 1,477,052. The company has a 50 day moving average of $195.20 and a two-hundred day moving average of $175.21. The stock has a market capitalization of $44.69 billion, a PE ratio of 37.06, a PEG ratio of 0.62 and a beta of 2.29. Targa Resources has a 12 month low of $95.88 and a 12 month high of $218.51. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 3.05.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, January 31st. Targa Resources’s dividend payout ratio (DPR) is currently 54.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Targa Resources from $185.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. US Capital Advisors lowered shares of Targa Resources from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on Targa Resources from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus upped their price objective on shares of Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley lifted their price objective on Targa Resources from $173.00 to $202.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $196.07.

Targa Resources Company Profile

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.