Targa Resources Corp (NYSE:TRGP) – Stock analysts at Capital One Financial dropped their Q2 2019 earnings per share estimates for shares of Targa Resources in a research report issued to clients and investors on Thursday, August 8th. Capital One Financial analyst K. May now forecasts that the pipeline company will post earnings per share of ($0.29) for the quarter, down from their previous estimate of ($0.22). Capital One Financial also issued estimates for Targa Resources’ Q3 2019 earnings at ($0.09) EPS, Q4 2019 earnings at ($0.03) EPS, FY2019 earnings at ($0.72) EPS, Q1 2020 earnings at ($0.02) EPS, Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.10 EPS, Q4 2020 earnings at $0.19 EPS and FY2020 earnings at $0.32 EPS.

TRGP has been the topic of several other research reports. ValuEngine upgraded shares of Targa Resources from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI restated a “hold” rating on shares of Targa Resources in a research report on Sunday. Zacks Investment Research upgraded shares of Targa Resources from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada reduced their price target on shares of Targa Resources to $51.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Barclays restated a “buy” rating and issued a $48.00 price target on shares of Targa Resources in a research report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Targa Resources presently has an average rating of “Buy” and an average price target of $53.84.

Targa Resources stock opened at $35.55 on Monday. The firm’s 50 day moving average is $38.91. Targa Resources has a 1 year low of $33.55 and a 1 year high of $59.21. The company has a market capitalization of $8.27 billion, a PE ratio of 177.75 and a beta of 1.76. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.48 and a current ratio of 0.58.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Tuesday, July 30th. Targa Resources’s payout ratio is 1,820.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new position in Targa Resources during the first quarter worth $27,000. Arlington Partners LLC purchased a new position in Targa Resources during the second quarter worth $29,000. Strategy Asset Managers LLC purchased a new position in Targa Resources during the first quarter worth $36,000. Personal Wealth Partners purchased a new position in Targa Resources during the second quarter worth $36,000. Finally, Valeo Financial Advisors LLC boosted its stake in Targa Resources by 105.3% during the second quarter. Valeo Financial Advisors LLC now owns 965 shares of the pipeline company’s stock worth $38,000 after buying an additional 495 shares during the period. 91.13% of the stock is owned by institutional investors.

Targa Resources Company Profile

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, 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; gathering, storing, terminaling, and selling crude oil; and storing, terminaling, and selling refined petroleum products.

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Earnings History and Estimates for Targa Resources (NYSE:TRGP)

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