Will stock surge before Earnings results? Targa Resources (NYSE:TRGP)

Earnings results for Targa Resources (NYSE:TRGP)

Targa Resources, Inc. is expected* to report earnings on 11/05/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.09. The reported EPS for the same quarter last year was $-0.34.

Targa Resources last announced its earnings data on August 6th, 2020. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.35. The company earned $1.52 billion during the quarter, compared to the consensus estimate of $1.63 billion. Targa Resources has generated ($0.81) earnings per share over the last year. Targa Resources has confirmed that its next quarterly earnings report will be published on Thursday, November 5th, 2020.

Analyst Opinion on Targa Resources (NYSE:TRGP)

19 Wall Street analysts have issued ratings and price targets for Targa Resources in the last 12 months. Their average twelve-month price target is $23.38, predicting that the stock has a possible upside of 39.80%. The high price target for TRGP is $42.00 and the low price target for TRGP is $13.00. There are currently 1 sell rating, 8 hold ratings, 9 buy ratings and 1 strong buy rating for the stock, resulting in a consensus rating of “Buy.”

Targa Resources has received a consensus rating of Buy. The company’s average rating score is 2.61, and is based on 9 buy ratings, 8 hold ratings, and no sell ratings. According to analysts’ consensus price target of $23.38, Targa Resources has a forecasted upside of 39.8% from its current price of $16.72. Targa Resources has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: Targa Resources (NYSE:TRGP)

Targa Resources pays a meaningful dividend of 2.41%, higher than the bottom 25% of all stocks that pay dividends. Targa Resources has only been increasing its dividend for 1 years. Based on EPS estimates, Targa Resources will have a dividend payout ratio of 100.00% in the coming year. This indicates that Targa Resources may not be able to sustain their current dividend.

Insiders buying/selling: Targa Resources (NYSE:TRGP)

In the past three months, Targa Resources insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $825,847.00 in company stock. Only 1.54% of the stock of Targa Resources is held by insiders. 80.94% of the stock of Targa Resources is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Targa Resources (NYSE:TRGP

Earnings for Targa Resources are expected to decrease by -69.47% in the coming year, from $1.31 to $0.40 per share. The P/E ratio of Targa Resources is -2.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. The P/E ratio of Targa Resources is -2.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings. Targa Resources has a P/B Ratio of 0.46. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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