Targa Resources, Inc. (TRGP) to Issue Quarterly Dividend of $1.00 on February 13th

Targa Resources, Inc. (NYSE:TRGP) declared a quarterly dividend on Thursday, January 15th. Stockholders 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) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, January 30th.

Targa Resources has decreased its dividend by an average of 0.1%per year 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% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of TRGP opened at $185.46 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91. The firm has a market cap of $39.81 billion, a PE ratio of 24.66, a P/E/G ratio of 0.88 and a beta of 0.87. Targa Resources has a 12 month low of $144.14 and a 12 month high of $218.51. The stock has a fifty day moving average price of $178.03 and a 200-day moving average price of $168.77.

Targa Resources (NYSE:TRGP) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. Equities research analysts predict that Targa Resources will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRGP has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Targa Resources from $205.00 to $207.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Weiss Ratings lowered shares of Targa Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Royal Bank Of Canada upped their target price on Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. JPMorgan Chase & Co. lifted their price target on Targa Resources from $214.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Stifel Nicolaus set a $213.00 price objective on Targa Resources in a report on Thursday, November 6th. One investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $213.14.

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.