Targa Resources, Inc. (NYSE:TRGP) to Issue Quarterly Dividend of $1.00

Targa Resources, Inc. (NYSE:TRGP) declared a quarterly dividend on Thursday, January 15th. Shareholders of record on Friday, January 30th will be paid a dividend of 1.00 per share by the pipeline company on Friday, February 13th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, January 30th.

Targa Resources has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Targa Resources has a dividend payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Targa Resources to earn $9.72 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 41.2%.

Targa Resources Trading Down 0.5%

Shares of NYSE TRGP opened at $181.88 on Friday. The firm has a 50-day moving average of $177.76 and a 200 day moving average of $168.69. Targa Resources has a 1 year low of $144.14 and a 1 year high of $218.51. The stock has a market cap of $39.04 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.87. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.02). Targa Resources had a return on equity of 51.87% and a net margin of 9.35%.The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. As a group, sell-side analysts expect that Targa Resources will post 8.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Royal Bank Of Canada increased their price target on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Weiss Ratings downgraded Targa Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Targa Resources from $214.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. Finally, Scotiabank increased their price target on Targa Resources from $198.00 to $199.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.36.

Targa Resources Company Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.